Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: cleggy on 15 May 2014, 09:53:20
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I got a credit report from Experian and the amount of information they have on you is frightening :( I though banks were supposed to be confidential, how wrong was I. >:(
It lists your electoral roll information, current account:- monthly balance information, loan information:- monthly payments made and balances, credit card details:- limit, outstanding balance, monthly amount paid and any cash advances, Virgin Media:- monthly payments, all searches you have made for insurance of any kind, other bank accounts etc. and finally any other addresses you are associated with ( which in my case was wrong). The details go back years.
I personally was surprised and disgusted that this information is available to anyone wanting to pay for it and those who put details up there. What the freak has Virgin Media got to disclose my monthly payments, what freakin' right have the comparison sites got to disclose what I was looking for and with which company. What right has my bank got to disclose my financial dealing. All very big brother to me and it shouldn't be allowed >:( >:( >:(
I accept that a credit check is required before getting credit, like the Electoral Roll to confirm where you live, Lord Chancellors and County Court Judgements against the individual or the property and proof of salary. The rest is a disgrace >:( >:(
I recommend you get your Credit Report and check it, you will be amazed at the information they have. Whatever happened to the data protection act ???
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Been looking at mine online for years. It's good that you can check, in one place, that everything is in order and that no one has been trying to open credit accounts in your name.
You've just got to accept that it's all out there and there's nowt you can do about it. The data protection act is used much the same as health and safety. It's just words that officials can spout when they don't want to tell you anything.
The local council can also access your bank account details in certain circumstances, so best keep up with your council tax payments. ;D
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How much do you pay for these reports?
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How much do you pay for these reports?
A one-off from any of the three big agencies (Experian, Eqifax or Call Credit), I believe is £2. I pay £9.99 a month to Experian. I can check my report anytime, along with a credit score and email alerts for any changes to my report (new accounts, searches etc.) I believe that has increased to £14.99 a month for new customers.
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Yes it's very Big Brother, I agree.
It's a bit scary really.
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Yes it's very Big Brother, I agree.
It's a bit scary really.
Yes I'm too big a chicken to look at mine! ::) ;D
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How much do you pay for these reports?
A one-off from any of the three big agencies (Experian, Eqifax or Call Credit), I believe is £2. I pay £9.99 a month to Experian. I can check my report anytime, along with a credit score and email alerts for any changes to my report (new accounts, searches etc.) I believe that has increased to £14.99 a month for new customers.
Ditto............. :y :y It's amazing how many insurance companies run a check when you are on / have been on a comparison website, personally I don't think they should unless you are buying on their pay monthly scheme, but hey ho............. ::) ::)
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How much do you pay for these reports?
A one-off from any of the three big agencies (Experian, Eqifax or Call Credit), I believe is £2. I pay £9.99 a month to Experian. I can check my report anytime, along with a credit score and email alerts for any changes to my report (new accounts, searches etc.) I believe that has increased to £14.99 a month for new customers.
Ditto............. :y :y It's amazing how many insurance companies run a check when you are on / have been on a comparison website, personally I don't think they should unless you are buying on their pay monthly scheme, but hey ho............. ::) ::)
But thats not credit as such is it, you stop paying...they stop insuring! it's a service not a tangible asset so why credit check??
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How much do you pay for these reports?
A one-off from any of the three big agencies (Experian, Eqifax or Call Credit), I believe is £2. I pay £9.99 a month to Experian. I can check my report anytime, along with a credit score and email alerts for any changes to my report (new accounts, searches etc.) I believe that has increased to £14.99 a month for new customers.
Ditto............. :y :y It's amazing how many insurance companies run a check when you are on / have been on a comparison website, personally I don't think they should unless you are buying on their pay monthly scheme, but hey ho............. ::) ::)
But thats not credit as such is it, you stop paying...they stop insuring! it's a service not a tangible asset so why credit check??
If you pay your insurance by monthly installments, it is a credit agreement covered by the consumer credit act of 1974. You should receive a statement at the end of the year showing payments and dates so, yes, it is treated as credit. Same with your mobile phone, which also appears on your credit report.
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How much do you pay for these reports?
A one-off from any of the three big agencies (Experian, Eqifax or Call Credit), I believe is £2. I pay £9.99 a month to Experian. I can check my report anytime, along with a credit score and email alerts for any changes to my report (new accounts, searches etc.) I believe that has increased to £14.99 a month for new customers.
Ditto............. :y :y It's amazing how many insurance companies run a check when you are on / have been on a comparison website, personally I don't think they should unless you are buying on their pay monthly scheme, but hey ho............. ::) ::)
But thats not credit as such is it, you stop paying...they stop insuring! it's a service not a tangible asset so why credit check??
If you pay your insurance by monthly installments, it is a credit agreement covered by the consumer credit act of 1974. You should receive a statement at the end of the year showing payments and dates so, yes, it is treated as credit. Same with your mobile phone, which also appears on your credit report.
And, thinking about it further, while on the site searching, they do no know how you are going to pay, and many offer the option to pay by installment............. :-\ :-\.
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I don't know how much companies pay to look at potential customers reports, but I'll bet it's not much. They like to know who they are dealing with.
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I've never done a credit check :-\
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I've never done a credit check :-\
£2......online......you know you want to.......
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I've never done a credit check :-\
£2......online......you know you want to.......
Bet you can't get higher than mine.............. :D :D
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I've never done a credit check :-\
£2......online......you know you want to.......
Bet you can't get higher than mine.............. :D :D
In what respect? ??? Get more credit or more marks against you? :-\ I do look through comparison sites when car insurance is due, but have returned to my current insurer & paid in one go over the passed few years. I owe a few quid to Tesco for two of the cars outside but other than that everything else is either paid for or is paid month by month eg general monthly bills. Years ago it wasn't uncommon for there to be month left at the end of the money .... but not now. ;) Unless someone has oppsed up, I doubt I have much to worry about. :y
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I've never done a credit check :-\
£2......online......you know you want to.......
Bet you can't get higher than mine.............. :D :D
In what respect? ??? Get more credit or more marks against you? :-\ I do look through comparison sites when car insurance is due, but have returned to my current insurer & paid in one go over the passed few years. I owe a few quid to Tesco for two of the cars outside but other than that everything else is either paid for or is paid month by month eg general monthly bills. Years ago it wasn't uncommon for there to be month left at the end of the money .... but not now. ;) Unless someone has oppsed up, I doubt I have much to worry about. :y
That sounds familiar......... ;) ;) Go on rub it in, you don't have a mortgage now, I bought late in life...... ::) ::)
No, I mean your Score............... :y :y
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, you don't have a mortgage now, ....
Did I mention it? ............. ::) ::)
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No, I mean your Score............... :y :y
So ..... what ups the score exactly :-\
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Having lots of credit and not missing payments...
One of the ironies of modern society ::)
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Having lots of credit and not missing payments...
One of the ironies of modern society ::)
If you mean the potential to have lots of credit eg on cards ........... then yes, I suppose I'll have a high score. ;) ;)
Not long back my daughter (25 in a few weeks) was discussing credit ratings, and part of her plan was to open a credit card account, use it to pay for her fuel but pay it off in full each month via DD, which she now does. :y
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Having lots of credit and not missing payments...
One of the ironies of modern society ::)
If you mean the potential to have lots of credit eg on cards ........... then yes, I suppose I'll have a high score. ;) ;)
Not long back my daughter (25 in a few weeks) was discussing credit ratings, and part of her plan was to open a credit card account, use it to pay for her fuel but pay it off in full each month via DD, which she now does. :y
A very good move, and a good way to build your score, the trick is to pay them off each month therefore saving a shed load of interest charges........ :y :y
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... therefore saving a shed load of interest charges........ :y :y
that's where she takes after her Dad in being 'careful' with her money ::) ::) ::) I just wish I'd been as careful as she is when I was in my early 20s ;D ;D
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Vital this is in order for Mortgages and indeed, loans of any sort. Very wise to know what info financial institutions are basing their lending decisions on.
It takes time, but you can influence the info shown, once the basics are understood. Use it to your advantage. Its a useful tool, as said.
If you have teenage kids, get theirs sorted as well. They'll need all the help they can get in the big wide world these days.
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The point is that every company you deal with or enquire with will post that for all to see..... NOT ON. >:( >:(
My Broadband service and what it costs is private so what FREAKIN right do Virgin Media have to make it public, I don't remember giving that consent, perhaps it's in the small print. >:( >:( >:(
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Noddle its free and what debt management companys recommend. :y
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A very good move, and a good way to build your score, the trick is to pay them off each month therefore saving a shed load of interest charges........ :y :y
That isn't the way to build up your score, you need to leave a little bit each month, let it build up then pay it off.
If you pay it off in full each month then you haven't actually 'borrowed' anything and the score won't increase.
This I know for a fact as in the mid 90's my family had been running their own business for years and it worked on an overdraft facility of up to £80k, the bank decided they needed security and were going to remove the overdraft facility. So my parents had to take out a mortgage on their house, which would become a directors loan to the company and keep Barclays happy. My parents were lucky, thanks to the family building business they built their house without the need for any borrowing, also being given the land as a wedding present helped.
They wanted to borrow £80k on a house valued at over £350k (it was two houses 'joined' together thet could be split and sold individually which made it slightly more complicated), they went to couple of companies with personal bank statements for years that showed they were never overdrawn and both Barclaycards were paid off in full every month.
They were given a zero credit rating as they had never 'borrowed' anything.
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A very good move, and a good way to build your score, the trick is to pay them off each month therefore saving a shed load of interest charges........ :y :y
That isn't the way to build up your score, you need to leave a little bit each month, let it build up then pay it off.
If you pay it off in full each month then you haven't actually 'borrowed' anything and the score won't increase.
This I know for a fact as in the mid 90's my family had been running their own business for years and it worked on an overdraft facility of up to £80k, the bank decided they needed security and were going to remove the overdraft facility. So my parents had to take out a mortgage on their house, which would become a directors loan to the company and keep Barclays happy. My parents were lucky, thanks to the family building business they built their house without the need for any borrowing, also being given the land as a wedding present helped.
They wanted to borrow £80k on a house valued at over £350k (it was two houses 'joined' together thet could be split and sold individually which made it slightly more complicated), they went to couple of companies with personal bank statements for years that showed they were never overdrawn and both Barclaycards were paid off in full every month.
They were given a zero credit rating as they had never 'borrowed' anything.
Spot on that :y
No point me doing a credit check after my bankruptcy ::)
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If you have a good relationship with your bank, as I do, credit reference agencies don't really come into it. On my banking app, it shows the amount of loan I have been pre-approved for. If I apply and sign online, it's in my account in three minutes.
Computers and internet....great...... :D
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If you have a good relationship with your bank, as I do, credit reference agencies don't really come into it. On my banking app, it shows the amount of loan I have been pre-approved for. If I apply and sign online, it's in my account in three minutes.
Computers and internet....great...... :D
Yup
Missus is the same with Lloyds
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Not necessarily the best interest rate, however .. although last time I looked it was offering me quite a competitive one (also a Lloyds customer)
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My wife works for a big Leasing company, think she said it cost them around 20p :o
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I got a credit report from Experian and the amount of information they have on you is frightening :( I though banks were supposed to be confidential, how wrong was I. >:(
It lists your electoral roll information, current account:- monthly balance information, loan information:- monthly payments made and balances, credit card details:- limit, outstanding balance, monthly amount paid and any cash advances, Virgin Media:- monthly payments, all searches you have made for insurance of any kind, other bank accounts etc. and finally any other addresses you are associated with ( which in my case was wrong). The details go back years.
I personally was surprised and disgusted that this information is available to anyone wanting to pay for it and those who put details up there. What the freak has Virgin Media got to disclose my monthly payments, what freakin' right have the comparison sites got to disclose what I was looking for and with which company. What right has my bank got to disclose my financial dealing. All very big brother to me and it shouldn't be allowed >:( >:( >:(
I accept that a credit check is required before getting credit, like the Electoral Roll to confirm where you live, Lord Chancellors and County Court Judgements against the individual or the property and proof of salary. The rest is a disgrace >:( >:(
I recommend you get your Credit Report and check it, you will be amazed at the information they have. Whatever happened to the data protection act ???
The information you have in front of you is for your Eyes only as its your Credit Report File, when A N Other does a Credit Check on you they dont see all the information that you have, they just things like, Credit Rating, defaults, up to date payments, late payment, Electoral Role, Credit Card and Bank Accounts etc, they dont get to see amounts or other Personal Information. ;)
One of the best checks is 'Check My File', they give you all 3 Reprts, from Experian, Equifax and Credit Call, last time I did it as 14.99 per Quarter for all 3 Reports and was updated monthly. :y
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I got a credit report from Experian and the amount of information they have on you is frightening :( I though banks were supposed to be confidential, how wrong was I. >:(
It lists your electoral roll information, current account:- monthly balance information, loan information:- monthly payments made and balances, credit card details:- limit, outstanding balance, monthly amount paid and any cash advances, Virgin Media:- monthly payments, all searches you have made for insurance of any kind, other bank accounts etc. and finally any other addresses you are associated with ( which in my case was wrong). The details go back years.
I personally was surprised and disgusted that this information is available to anyone wanting to pay for it and those who put details up there. What the freak has Virgin Media got to disclose my monthly payments, what freakin' right have the comparison sites got to disclose what I was looking for and with which company. What right has my bank got to disclose my financial dealing. All very big brother to me and it shouldn't be allowed >:( >:( >:(
I accept that a credit check is required before getting credit, like the Electoral Roll to confirm where you live, Lord Chancellors and County Court Judgements against the individual or the property and proof of salary. The rest is a disgrace >:( >:(
I recommend you get your Credit Report and check it, you will be amazed at the information they have. Whatever happened to the data protection act ???
The information you have in front of you is for your Eyes only as its your Credit Report File, when A N Other does a Credit Check on you they dont see all the information that you have, they just things like, Credit Rating, defaults, up to date payments, late payment, Electoral Role, Credit Card and Bank Accounts etc, they dont get to see amounts or other Personal Information. ;)
One of the best checks is 'Check My File', they give you all 3 Reprts, from Experian, Equifax and Credit Call, last time I did it as 14.99 per Quarter for all 3 Reports and was updated monthly. :y
OK that's a bit better, but the fact that they have that detail of information is disturbing
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I got a credit report from Experian and the amount of information they have on you is frightening :( I though banks were supposed to be confidential, how wrong was I. >:(
It lists your electoral roll information, current account:- monthly balance information, loan information:- monthly payments made and balances, credit card details:- limit, outstanding balance, monthly amount paid and any cash advances, Virgin Media:- monthly payments, all searches you have made for insurance of any kind, other bank accounts etc. and finally any other addresses you are associated with ( which in my case was wrong). The details go back years.
I personally was surprised and disgusted that this information is available to anyone wanting to pay for it and those who put details up there. What the freak has Virgin Media got to disclose my monthly payments, what freakin' right have the comparison sites got to disclose what I was looking for and with which company. What right has my bank got to disclose my financial dealing. All very big brother to me and it shouldn't be allowed >:( >:( >:(
I accept that a credit check is required before getting credit, like the Electoral Roll to confirm where you live, Lord Chancellors and County Court Judgements against the individual or the property and proof of salary. The rest is a disgrace >:( >:(
I recommend you get your Credit Report and check it, you will be amazed at the information they have. Whatever happened to the data protection act ???
The information you have in front of you is for your Eyes only as its your Credit Report File, when A N Other does a Credit Check on you they dont see all the information that you have, they just things like, Credit Rating, defaults, up to date payments, late payment, Electoral Role, Credit Card and Bank Accounts etc, they dont get to see amounts or other Personal Information. ;)
One of the best checks is 'Check My File', they give you all 3 Reprts, from Experian, Equifax and Credit Call, last time I did it as 14.99 per Quarter for all 3 Reports and was updated monthly. :y
OK that's a bit better, but the fact that they have that detail of information is disturbing
Well, it's probably best too look at it from a lenders point of view. If I asked you as a lender ,say, if I could borrow £480,000 for a loan on a house. You'd want to know if I was going to repay the loan right?
You'd want to know I was;
A real person not a created identity.
In full time employment with a wage capable of meeting the repayments.
Had a good history of paying back loans.
Had national insurance so that, if I became ill, I could get better and continue to re pay the loan.
Or, if I was terminally ill, and could not pay back the loan.
You'd want to know that the house I was buying existed.
Was worth the amount against the loan.
Was in the uk.
Not about go fall off a cliff and disappear into the sea.
Was insured against gas explosions ::)
Etc etc....
Its a report on your suitability for credit. It's not made public. Far from it. Only certain institutions , and you, are able to see it. In theory. ;)
....as I understand it anyway. :)