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  • FIRST POST
    • tenchy
    • By tenchy 6th Mar 18, 11:32 AM
    • 360Posts
    • 112Thanks
    tenchy
    Credit reporting in the olden days
    • #1
    • 6th Mar 18, 11:32 AM
    Credit reporting in the olden days 6th Mar 18 at 11:32 AM
    I've just been clearing out some documents from over 20 years ago and I came across a credit report from Experian. Alongside this was a brochure from Experian called "Helping you to understand your credit file" (circa 1996). It has a laughable 'happy family' photo on the front - as if credit reporting is the key to a fulfilled family life ).


    You credit score deniers will love what I found inside the brochure.


    In the Q&A section we have "Q. Can I find out my credit score?" A. "No. You do not have a single credit score. Lending policies vary greatly, even from day to day. You will score differently with different lenders".


    So there we have it. Of course, this document was produced in the days when credit bureaus were quite happy that the vast majority of people didn't know they existed.
Page 1
    • John-K
    • By John-K 6th Mar 18, 6:52 PM
    • 654 Posts
    • 999 Thanks
    John-K
    • #2
    • 6th Mar 18, 6:52 PM
    • #2
    • 6th Mar 18, 6:52 PM
    Of course it can and does lead to a happy family life. My credit file shows cards paid off in full each month, no CCJs, and a string of green marks next to my mortgage payments.

    As a result, banks who may once have hesitated to lend a young man nearly a million pounds to buy a flat in Docklands were instead happy to lend to me at just over one percent.

    One of the reasons that they were happy to lend to me is that the sort of people who were not going to pay back what they borrowed had their cards marked, so they got no credit, and the bank had more money to place with people who made damned sure that debt payments came ahead of Sky television, a new mobile phone, or money spent down the pub.
    • tenchy
    • By tenchy 6th Mar 18, 8:01 PM
    • 360 Posts
    • 112 Thanks
    tenchy
    • #3
    • 6th Mar 18, 8:01 PM
    • #3
    • 6th Mar 18, 8:01 PM
    Of course it can and does lead to a happy family life. My credit file shows cards paid off in full each month, no CCJs, and a string of green marks next to my mortgage payments.

    As a result, banks who may once have hesitated to lend a young man nearly a million pounds to buy a flat in Docklands were instead happy to lend to me at just over one percent.

    One of the reasons that they were happy to lend to me is that the sort of people who were not going to pay back what they borrowed had their cards marked, so they got no credit, and the bank had more money to place with people who made damned sure that debt payments came ahead of Sky television, a new mobile phone, or money spent down the pub.
    Originally posted by John-K

    Well done you.
    • John-K
    • By John-K 6th Mar 18, 9:28 PM
    • 654 Posts
    • 999 Thanks
    John-K
    • #4
    • 6th Mar 18, 9:28 PM
    • #4
    • 6th Mar 18, 9:28 PM
    Well done you.
    Originally posted by tenchy
    Thanks.

    You, I assume have taken advantage of their services, too? Religiously fulfilled your obligations, shown how trustworthy you are, and now reaping the rewards of your decisions?
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