experian and equifax

[razorc]

does experian and equifax use the same sources to check your credit history ?

as if i do the 2 of them there will be the same info on them

 

 

thanks

[callumsgran]

No, because different companies use different agencies i.e barclays may use experian and not equifax or may use both! hope this helps?

[razorc]

my experian check looks good , but the last equifax i done in 2004 had a few things on it that are not on experian ,

 

strange a thought they would both be identical

[Sc00ps]

I have just subscribed to checkmyfile.com the site compares 3 agencies and I just had to laugh. I had settled a TSB credit card balance sometime ago and had I not checked I would have a default against me forever.

A notice of correction has been filed with the credit refrence agency a few days ago and will take 28 days tobe investigated so I am told.

 

The Experian file is based on public infomation only - so will reflect the type of result that most companies, landlords and employers can see when they search you.

 

Callcredit and Equifax files are more representive of what only the top 200 or so lenders can see when they search you. In addition to public file infomation these also contain your search and account performance history.

 

Incidently my callcredit file is 4 stars whilst my Equifax file is not so healthy. Funny that, don't you think.

[Movingon]

I have just subscribed to checkmyfile.com the site compares 3 agencies and I just had to laugh. I had settled a TSB credit card balance sometime ago and had I not checked I would have a default against me forever.

A notice of correction has been filed with the credit refrence agency a few days ago and will take 28 days tobe investigated so I am told.

1. Defaults are on your account 6 years, not forever.

 

2. Even if it was settled, if the default was entered before settlement it will remain on your account for six years.

 

3. Defaults can be removed if you can prove that your default was there purely because of unlawful charges which placed you in a default position; or some other mitigating factor. Otherwise, once defaulted, that's IT for six years, whether you settle or not.

[Eduin]

2. Even if it was settled, if the default was entered before settlement it will remain on your account for six years.

 

Actually when a default is settled it is marked as such and the default disappeares. Technically there is a difference between Settled and Satisfied (paid on time, closed account without issue) but the markers in at least Experian use the "S" symbol for both Settled and Satisfied so paying off a defaulted debt makes a huge difference.

 

Funny story. Well not really but interesting. A few years ago working for one of the big credit card lenders, i was collecting an account. This person had issues which meant her family had to keep sorting out her debts. They chose to pay them off each time she was defaulted. Of course the way that the "S" works this meant she was a prime target for new credit which due to the same issues she happily took out. And so the cycle continued, each time with higher total debts.

 

Regards,

Eduin

[Sc00ps]

Actually when a default is settled it is marked as such and the default disappeares. Technically there is a difference between Settled and Satisfied (paid on time, closed account without issue) but the markers in at least Experian use the "S" symbol for both Settled and Satisfied so paying off a defaulted debt makes a huge difference.

 

It is the same with Equifax a green "S" for settled/satisfied where as Experian favour a serene blue "S"

 

I have also been informed that registering a personal notice of correction on one's credit file is as good as a default in the eyes of some searcher's:eek:

So now I know that the issue is now being investigated I have requested that the notice of correction is to be removed post haste. And informed the other agency of my dispute of which is also being investigated.

 

In my recent dealings with credit refrence agencies I have found them to be very helpful in telephone conversations, and it would appear to me that they are in the dark until ordinary Joe off the street has to look at his file, and then dispute's.

The fact there is more than one agency baffles me, financial institutions that supply a service imho should state in terms before supply, with which credit refrence agency/s they will be recording entries with and whom they share your personal infomation with.

[whataboutyeah]

Can you ask before you apply for credit 'Which credit reference agency do you use?'

[Sc00ps]

Can you ask before you apply for credit 'Which credit reference agency do you use?'

I have not myself asked before a search...but consider that a search on a CRA file leaves a footprint and that too many footprints can be detrimental to the overall credit score on the file that has been searched.

 

In reply to your question... I would have to say it would be down to personal choice, however, me being me I would contact the customer service dept of the organisation that I would be considering first.

 

The money saving expert Martin Lewis's site has an interesting page as a rule of thumb 'who uses who', tho Im not sure if it is up to date or not.

 

Credit Reference Agencies - Who uses who? | UK's only money saving expert,

 

If this helps don't click the scale's, just donate:)

[Sc00ps]

Another frustrating factor is when one has to repair the damage when innacurate data has been recorded or has not been updated on a CRA' file by an institution and then have to contact every CRA's yourself to repair it (should charge me thinks to the incompetent institution concerned) .

[jo5ephedward5]

I have not myself asked before a search...but consider that a search on a CRA file leaves a footprint and that too many footprints can be detrimental to the overall credit score on the file that has been searched.

 

In reply to your question... I would have to say it would be down to personal choice, however, me being me I would contact the customer service dept of the organisation that I would be considering first.

 

The money saving expert Martin Lewis's site has an interesting page as a rule of thumb 'who uses who', tho Im not sure if it is up to date or not.

 

Credit Reference Agencies - Who uses who? | UK's only money saving expert,

 

If this helps don't click the scale's, just donate:)

 

 

I'm not convinced this is right as my Call credit report is great - even get a "checkmyfile" score of 5 out of 5 etc, but american express wont touch me and they only use them according to this lol...it would be great if you could find out this info before applying and being refused.

[Sc00ps]

I'm not convinced this is right as my Call credit report is great - even get a "checkmyfile" score of 5 out of 5 etc, but american express wont touch me and they only use them according to this lol...it would be great if you could find out this info before applying and being refused.

 

I did mension that I was not sure if it was upto date or not, however the chat forum link on there has a few posts regarding who uses who and the other link I found quite infomative.