By Neil Stone, Experian UK social support team
Before I even contacted my bank, I checked my credit report to make sure that all of my accounts that I expected to be showing were on the report. The more information a lender can see the better picture they will have of my credit history. If you have well run accounts then you want to be sure the lender can see them!
There are times though, when information that you might be expecting to show on your report doesn’t appear.
Here I’m going to run through a few reasons why this might be, and what can be done to make sure that the information does show.
– Does the lender share the information with Experian?
Not all lenders will share information with Experian. Some will only share with specific agencies and not all of them. Check with your lender to see if they do share information with Experian.
– Does the lender have consent to share the information?
If your account was opened a number of years ago, then the company may not have obtained your permission to share the information with Credit Reference Agencies. This is particularly the case with accounts opened before 1998 when the Data Protection Act came in. Ask your lender to provide a consent form so the information can be shared.
– Have your previous addresses been added to your report?
Your report will show information in your name at the addresses supplied in the application. Old accounts may be recorded at a previous address so make sure you provide at least six years of address history on your report application.
– Is your current address up to date?
If you have a CreditExpert membership and have moved house, you will need to make sure that you update the address in your profile as this won’t change automatically. Once updated, you will be able to see all the information in your name at the address.
– Are there variations of your address?
Lenders may record information under different versions of your address than you normally use, particularly if you have both flat and house numbers. Check to see if the format of address your lender is using is the same as you would normally use.
– Is it under a different name?
If you have used more than one name, you will need to make sure an alias is recorded on your report to link information under the different names together, and to ensure that you can see them on the report. You can download a form to add an alias here.
Once I was happy that my report had everything on that it should I knew I was ready to speak to the bank about that home improvement loan!