Making sure the data on your credit report is accurate

Data accuracy is at the heart of what we do

Data accuracy is at the heart of what we do

Your credit report is a personal history of your borrowing behaviour – the credit you’ve had, and the repayments you’ve made. So it’s crucial that you want the data and information it contains to be 100% accurate.

In 2013, Experian provided credit reports to around 2 million people, and answered more than 3.5 million calls and requests for help and support. Any discrepancies in credit reports are looked into immediately– in fact, many of the queries received via our award-winning call centre are sent to the lender within one hour of receiving them, raising disputes for people while they are on the phone.

When lenders send us information, we then carry out over 350 validation checks on all information before it is added to Experian credit reports. The information they send is regularly audited to ensure it is accurate and up to date.

Let us know if you find something
On the rare occasion you should find inaccurate information on your credit report you can contact Experian, and we will contact the lender in question. Any lender that shares credit account information through a credit reference agency is responsible for making sure the information is accurate and kept up to date.

We can raise a ‘data dispute’ with the lender on your behalf, and add a flag to say it has been disputed by the data subject. This means that care should be taken by any lender looking at your report while the dispute is ongoing, if using the disputed information in a lending decision.

Once the organisation replies to us, we’ll be in touch to let you know whether they have said it can be updated, deleted or confirmed that it’s correct. It takes eight working days on average for us to receive a response, and we’ll let you know as soon as we hear from them.

What lenders do
Lenders have their own criteria for awarding credit, and will use different credit reference agencies.  Your credit report is only one part of your application, as lenders also use the information provided on your application form, their own policy rules, and information that they already hold on you (for example, if you’re already a customer of theirs).

Review your credit report
We recommend that you review your credit report on a regular basis and to make sure everything is up to date & accurately reflects your circumstances, and to query anything that doesn’t look right.

It’s also worth checking out which financial links to other people are on your credit report, and ask for any outdated links to be broken – for example an ex-partner you shared accounts with, or even your son whose loan you guaranteed. If you don’t do this you could find that any credit applications you make in the future may be affected by your ex-partner’s financial situation.

7 thoughts on “Making sure the data on your credit report is accurate

  1. David

    Your blog seems to be slanted towards discussing people who are dragged down by having wrong information included in their report which shouldn’t be there. You say you check things before adding them, and that you will contact the lender, but it only helps one way. What about people who have correct information missing from their credit report and then their score is lower than it should be? You don’t have my address registered on the electoral roll, even though I voted in the last election a few months ago. You don’t have my credit card listed which was taken out months ago and which I use to pay my subscription fee to your service. Considering the power you have over peoples lives, this is really disappointing and unacceptable.

    Reply
    1. CreditExpert Neil

      Hi David,
      Thanks for your comments. I understand that having missing information can have an impact. We work hard to ensure that as much information as possible appears on your report, so that lenders can get the best possible view of your credit history.
      There can be a number of reasons why information may not show.
      Not all lenders will share information with credit reference agencies, and some will only share with specific agencies and not all of them. With older accounts lenders may not have consent to share the information, and this can stop it appearing on a report.
      If an account or electoral roll information has been recorded information under a different variation of address to that in your CreditExpert profile, then this can also prevent the information from appearing on your report.
      If you find that there is information missing that you would expect to be recorded on your report, please contact us with the details and we will be able to investigate it for you.
      Kind regards
      Neil

      Reply
  2. Ross

    What happens when the customer (the one paying) contacts you stating that there is a discrepancy. you then contact the company in question which they in turn agree with the error, only for Experian to not update the record and say that its “fine”

    This leads me to think that Experian are only interested in taking the customer (the one paying, not the companies) money and not actually doing anything about information that is factually incorrect.

    Almost considering contacting the FCA / FOS to raise concerns.

    Regards

    Ross

    Reply
    1. CreditExpert Neil

      Hi Ross, thanks for your question, the accuracy of information is very important to us.
      The account information that we hold comes from the lender, if we are told that the information is wrong we will contact the lender to query the accuracy.
      Should the company agree that the information is wrong then they will either update the information themselves, or instruct us to amend it.
      If they do ask that we amend the information then we always aim to do this as quickly as possible. I’m sorry if you have found that this has not been the case in this instance. If you email your details to us at uksocialsupport@experian.com we will be happy to get this checked for you.
      Kind regards
      CreditExpert Neil

      Reply
  3. Matiullah Ghani

    Hi,
    I have to moved to USA for almost a year and I had house contract for almost a year same as phone bills, wate, electricity and insurance on time…1 question:are all those count a part of my credit?
    2 question: how can I make sure that my personal information is accurate, the reason I ask is I can’t get my credit history.

    Thanks
    Matti

    Reply
  4. Stephen

    Our dispute over mis-selling of inappropriate lending product led to a referral to the Ombudsman. As our case was effectively sub judice, both payments and charges are supposedly frozen until a verdict is reached. However the lender appears to have advised Experian that arrears have built up (deliberately confusing default with dispute) but have NOT provided complete data, specifically that the account is in dispute. What onus is there on the lender to provide a complete and accurate picture as opposed to a misleading and selective one?

    Reply
    1. CreditExpert Neil

      Hi Stephen, thanks for your question.
      All of our clients sign up to strict terms and conditions stipulating that they must only provide us with information that is compliant with the Data Protection Act 1998.
      Companies are also aware that if they do not comply with the relevant legislation this could threaten their licence to trade so it is not in their best interests to supply data to us that is inaccurate.
      If a company has recorded information on your report that you believe is incorrect then we will always query this for you, and will mark the information as disputed while we do so. You can find out more about this here.
      Kind regards
      CreditExpert Neil

      Reply

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