Credit Reference Agencies - Who Really Uses Who? II
Comments
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paulmcerlean wrote: »Egg will use Experian.
When I applied last year for the Egg Money card they only searched Equifax.
UNDERGROUND
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I have had lots of credit in the past which all showed up, all paid etc on time. I do have a credit card - possibly 2 !!! I did have an O2 contract until November until I cancelled and went to Orange -BUT my 18 year old managed to get the phone in his name ( it was actually for him) and he's a student and only has a maestro card account not credit cards or anything !!! strange !!!Opt out means they won't have taken into account the details of information belonging to a financial associate like, a husband, when assessing your eligibility for their mobile contract.
O2 are rather strict though so you may find having never been debt and / or having no active credit accounts is what actually caused O2 to decline you.
The reason they do a credit check is to see how you perform with credit accounts elsewhere. If there's little or no data on your credit file pertaining to how you've handled credit elsewhere - you're an unknown to them - so a high risk - so they mightn't be interested in taking the "risk" of opening a contract phone account for you.
I found it harder as an 18 year old to get a mobile phone contract - due to no credit history - than I do now, as a discharged bankrupt.
Because despite having been bankrupt several years ago, I have three years of recent history demonstrating exemplary conduct on a variety of credit accounts - something I didn't have at age 18.
I didnt want to do the o2 transaction on the phone because he got £60 cashback on Quidco....which had to be done wholly online0 -
I did register for the equifax and you can search your account but you cant get your credit score for free.....you have to pay £5.95...tigerlily44 wrote: »Both Equifax and Experian do a free 30 day trial
tiger0 -
niceday999 wrote: »I have had lots of credit in the past which all showed up, all paid etc on time. I do have a credit card - possibly 2 !!! I did have an O2 contract until November until I cancelled and went to Orange -BUT my 18 year old managed to get the phone in his name ( it was actually for him) and he's a student and only has a maestro card account not credit cards or anything !!! strange !!!
I didnt want to do the o2 transaction on the phone because he got £60 cashback on Quidco....which had to be done wholly online
That's quite odd then...
Have you had a lot of credit searches in the last six months or so? Have you opened any new accounts recently (i.e. in last year)? Have you checked your credit file for CIFAS markers?
It might just be that O2 have a very weird credit scoring system that neither you nor I can make sense of; you've made sure there's no adverse information on your credit file like defaults / CCJs / arrears? Even if they're incorrect?Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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sorry what are CIFAS markers ?That's quite odd then...
Have you had a lot of credit searches in the last six months or so? Have you opened any new accounts recently (i.e. in last year)? Have you checked your credit file for CIFAS markers?
It might just be that O2 have a very weird credit scoring system that neither you nor I can make sense of; you've made sure there's no adverse information on your credit file like defaults / CCJs / arrears? Even if they're incorrect?
I have not taken out any credit in the last year and no credit searches in the last year......I was thinking maybe o2 had barred me for several months as I was a recent customer...all payments on any credit agreements were showing as paid on time...only thingts i had really were like 9 months interest free with DFS (twice) tv bought same way. I dont buy anything on credit unless its interest free credit.....just wondering if there would be anything different on another credit report ..I only applied for the equifax (30 day free) one and then cancelled it ....0 -
Hi There.
Applied for a mortgage a few days ago there with HBOS through a mortgage broker.
The broker put all my details on the system and past them onto HBOS and within seconds it had come back as accepted.
I asked the broker who they searched and he replied they subscribe to Experian and only do a soft search, never mentioned anything about Equifax.
Anybody have a different experience?0 -
HBOS do primarily use Experian, yes. If the broker has only done a soft search, HBOS are still due to do their own full search on Experian before they finalize their decision
Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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HBOS do primarily use Experian, yes. If the broker has only done a soft search, HBOS are still due to do their own full search on Experian before they finalize their decision
Just checked equifax no searches from HBOS. Experian has 2 searches from HBOS, unrecorded enquiry and first mortgage search.0 -
Hi All,
I am looking to finance a new car and was wondering if anyone has experience with Ford or BMW and their finance?
Which CRA do they use?
Regards,
uniplan0 -
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