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    credit file searches etc how does it work?

    not for me this one but a friend who has a bad credit file rating.

    She has tried for credit in several shops and been refused on the spot,i thought that each time you tried to obtain credit and were refused it shows up on your credit file,she doesnt seem to think so.

    Can someone please clear it up for me?!

    11 Comments

    Banned

    every time a search is performed it goes on your file.

    Experian offer a 30 day free access, get her to check asap, my mate did this last night and there were a lot of errors which she is now clearing up

    Original Poster

    dimebars;3259455

    every time a search is performed it goes on your file.

    but is it a bad thing? i mean does it put a so called black mark against your file?

    Mardyass;3259478

    but is it a bad thing? i mean does it put a so called black mark against … but is it a bad thing? i mean does it put a so called black mark against your file?



    It will keep going against your friend, as retailers will wonder why they keep pursuing credit, better for your mate to check what is on their credit file

    Original Poster

    choc1969;3259537

    It will keep going against your friend, as retailers will wonder why they … It will keep going against your friend, as retailers will wonder why they keep pursuing credit, better for your mate to check what is on their credit file

    good idea thanks for the info:thumbsup:

    Banned

    Mardyass;3259478

    but is it a bad thing? i mean does it put a so called black mark against … but is it a bad thing? i mean does it put a so called black mark against your file?



    lots of searches looks bad on your file and makes it harder to obtain credit.

    Quidco used to offer £6? cashback for getting a copy of your credit file from Experian.

    You need to make sure that the subscription is immediately cancelled.

    Original Poster

    thesaint;3259636

    Quidco used to offer £6? cashback for getting a copy of your credit file … Quidco used to offer £6? cashback for getting a copy of your credit file from Experian.You need to make sure that the subscription is immediately cancelled.

    tis £6.50 now,havent used quidco in ages will it work as its my friends details and not mine?

    Make sure you cancel the free trial in time!
    I made the mistake of forgetting and its a nightmare to cancel later :x

    Mardyass;3259666

    tis £6.50 now,havent used quidco in ages will it work as its my friends … tis £6.50 now,havent used quidco in ages will it work as its my friends details and not mine?



    Don't know the inner workings of Quidco.
    Maybe ask on this thread ]HERE

    I would expect that it isn't possible.


    jonauk;3259716

    Make sure you cancel the free trial in time!I made the mistake of … Make sure you cancel the free trial in time!I made the mistake of forgetting and its a nightmare to cancel later :x



    Took me one phone call, they didn't even try and persuade me to stay.
    In any case, just contact your bank, they will do it.

    hi. Theres no such thing as a 'Black' mark or 'Blacklisted' with regards to your credit file. your credit file holds data relating to many aspects of you as an individual. For example, the latest electoral information is held on your file, your registered name, address details.

    If you have had any credit at all it will hold information on how well the credit account was maintained on a monthly basis. This included catalogue accounts, credit cards, bank loans, car loans, anything credit related.

    It also holds information whenever the person applies for credit. It doesnt say whether the person has been refused or accepted, just a record of your details being searched by the company that you have applied for credit from.

    It also holds details of any CCJs against the individual.

    All of the above is entirely different from being refused credit. Companys each have their own credit scoring system in order to evaluate the risk when someone is applying for credit with them. They often use the credit file details when calculating the score. There is no fixed credit scoring system, each company makes up their own and can change it depending on the current environment (i.e like now theres a recession many companies may raise their score required before granting credit to someone).

    Insignificant details can affect your credit score for a company, for example, if your living with your parent as opposed to living on your own or with a partner. Living with your parents is often viewed as having a lower score as it can be perceived as being more dependent on your parents rather than someone living on their own which could show they are less dependent. So the person living with their parents would often get scored lower on this aspect.

    It should also be noted that whenever someone applies for credit, the search is kept on their credit file for a period of 6 months then cleared from it.

    If your friend is finding it difficult to obtain credit then you can send away for a copy of your credit file and find out if there is anything on it that may be preventing the credit applications being successful. I think it costs a couple of pounds and can be done online. There are 2 major credit file companys, Experian and Equifax.

    You can find out more about Experian here ]http//ww…uk/ and about Equifax here ]http//ww…uk/

    Cheers.
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