Bank accounts dropped off credit history

camelise · 15 October 2019 at 9:56PM

Evening all,

I just checked both my experian and clearscore (equifax) credit reports and the 'score' (which I know is non-existent after reading multiple posts on this forum) has taken a drop and says that my HSBC current account and credit card account have been removed from my report and therefore history (on these sites).

I believe this may be due to moving address recently and updating my bank account address details. I have removed myself from my previous council electoral roll but haven't yet added myself to my new council electoral roll.

If I get on the electoral roll, will these credit bureaus recognise my bank accounts again? I don't want them to reappear as 'new' accounts but rather existing accounts, and don't want to lose my long history with these accounts and use of my credit account. Will the accounts just reappear in the history shown on these websites?

Thanks in advance

[Deleted User] · 15 October 2019 at 10:15PM

Yes.
You just need to wait for everywhere to update with your new address and report as such.

Could take a few months in some cases.

boo_star · 15 October 2019 at 10:25PM

You being on the electoral roll at your new address won't cause the accounts to reappear.

Clearscore in particular seem to have developed a habit of removing accounts from previous addresses and taking their sweet time (a couple of months) to readd them.

FWIW the statutory reports seem to be updated correctly so you shouldn't worry about having no credit history.

RG2015 · 15 October 2019 at 10:33PM

I found Experian very quick at updating my records at about 4 weeks. Credit Karma was about the same.

Equifax though was dreadful and after 2 months I had to contact them to get my address updated and my accounts to re-appear.

Clearscore should have automatically updated but 2 Clearscore updates later and there was no change. It the end MSE user Gary Dexter suggested closing and then reopening my Clearscore account which worked.

I am not sure though that this would have worked had I not already got Equifax to update my details.

camelise · 15 October 2019 at 10:37PM

boo_star wrote: »

You being on the electoral roll at your new address won't cause the accounts to reappear.

Clearscore in particular seem to have developed a habit of removing accounts from previous addresses and taking their sweet time (a couple of months) to readd them.

FWIW the statutory reports seem to be updated correctly so you shouldn't worry about having no credit history.

Unfortunately Experian are displaying a negative factor as having my average account age as 2 months (rather than 10 years as it was previously before my main HSBC accounts were removed). Hopefully once the accounts reappear it will bounce back up.

As a student/young professional it is almost impossible to remain in a fixed address for a long period of time. So I might just revert to putting all my addresses and electoral roll location as my family home address, so as to retain a consistent address and prevent these constant hiccups on my credit history. I'm also hoping the consistent credit card repayments I have on the account that has dropped off will outweigh the negative impacts brought about by changing addresses on an annual basis.

boo_star · 15 October 2019 at 10:45PM

camelise wrote: »

Unfortunately Experian are displaying a negative factor as having my average account age as 2 months (rather than 10 years as it was previously before my main HSBC accounts were removed). Hopefully once the accounts reappear it will bounce back up.

As a student/young professional it is almost impossible to remain in a fixed address for a long period of time. So I might just revert to putting all my addresses and electoral roll location as my family home address, so as to retain a consistent address and prevent these constant hiccups on my credit history. I'm also hoping the consistent credit card repayments I have on the account that has dropped off will outweigh the negative impacts brought about by changing addresses on an annual basis.

It only seems to have been a recent thing that they dump all your accounts and add them a month or two later.

I moved late last year and the "switch" was seamless. 6 months later it's not.

RG2015 · 15 October 2019 at 10:46PM

camelise wrote: »

Unfortunately Experian are displaying a negative factor as having my average account age as 2 months (rather than 10 years as it was previously before my main HSBC accounts were removed). Hopefully once the accounts reappear it will bounce back up.

As a student/young professional it is almost impossible to remain in a fixed address for a long period of time. So I might just revert to putting all my addresses and electoral roll location as my family home address, so as to retain a consistent address and prevent these constant hiccups on my credit history. I'm also hoping the consistent credit card repayments I have on the account that has dropped off will outweigh the negative impacts brought about by changing addresses on an annual basis.

I think it would be unwise not to put your correct address in all of your financial (and other) records.

A CRA's negative view and score may be "poor" but that it not really a problem. However, not giving your actual address could really scupper your chances of obtaining credit as giving an incorrect address may be viewed as fraud.

Bank accounts dropped off credit history

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