Experian credit reports

[tinkerbelle93]

Are these at all accurate? I signed up for the free trial to see what my credit is like because I was concerned but according to it I have an excellent credit score although it listed 5 positives and 3 negatives to do with my credit but says that lenders would view me highly.

I'm not 100% sure about this as I have paid quite a few things late this past year. I've paid my rent a few days late on several occasions, a store card payment a few days late and also my water bill a few days late once which I thought would affect credit? It doesn't seem to know about this so I'm wondering whether it's a proper credit report? Any experience with these?

 

[Jaysmummy]

I had one a month or two ago and it was accurate.

Things like late payments don't always show especially rent etc as it's upto the company to report it as far as I am aware.

 

[Mummy May]

Late payments to store cards would usually show but yeah a lot of companies use Experian xx

 

[catty]

Its not accurate always as it said mine was 99% and the man on the phone said thats almost impossible unless iv never had a credit card or anything before.
If you check in each individual card it will tell you how many defaults you have and explain what they mean.
I had a financial connection on mine (who I didnt even no) that had terrible debt and it was affecting mine even though I had done nothing wrong. Took a year to sort
But I highly doubt rent would show, but the store cards probably will.

 

[tinkerbelle93]

It is housing association rent, would that not be available information for them maybe? And I had a water payment late but that's not showing either.

I only had one store card 2 years ago and it does show on my financial history but doesn't seem to have picked up the fact i paid the one payment i ever had on it late? Ooh well not complaining.

I also did my OH's and his is all good although it shows that he has made his monthly credit card payments late maybe 4 or 5 times over the past 4 years of his card but still rating him excellent?

 

[Vesta]

In my experience the score Experian gives you is utter nonsense! I've declined people for loans because I can see defaults on their credit file. And they don't understand why I would reject them, because Experian is telling them their credit is 'good' or 'average'.

 

[Mummy May]

In my experience the score Experian gives you is utter nonsense! I've declined people for loans because I can see defaults on their credit file. And they don't understand why I would reject them, because Experian is telling them their credit is 'good' or 'average'.

Who would you reccommend using then? I've used Experian and Equifax and both seem to show me the correct info xx

 

[Mummy Bean]

we use it at work for personal and business reports. It not 100% accurate but we do use it as part of an overall assessment .so you can have a excellent credit rating but with late payments.

i know mine is missing a couple of loans i have/had.

 

[Yo_Yo]

Not all places use the same credit reference agency when doing searches or adding info to your report. There's a list somewhere on Money Saver Expert showing which companies use which agency when performing checks.
It's best you check the two top ones mentioned above for an over all view of your score.
I also have used noddle. I check mine every few months.

 

[BellaBoo0512]

I used this last year and it gave me an inaccurate report, it said I had an excellent credit rating and I know this isn't the case. I rang them up and it's because I'm married so everything on my credit report went off my married name and I had some little mobile phone and catalogue debts in my maiden name from years ago. I had to send them my marriage certificate to prove I've changed my name and then they updated my report.

 

[lhancock90]

I found ours fairly accurate.

x

 

[tinkerbelle93]

is a default the same thing as a late payment??

 

[Vesta]

In my experience the score Experian gives you is utter nonsense! I've declined people for loans because I can see defaults on their credit file. And they don't understand why I would reject them, because Experian is telling them their credit is 'good' or 'average'.

Who would you reccommend using then? I've used Experian and Equifax and both seem to show me the correct info xx

I would recommend Experian but just looking at your payment history. As when you apply for credit that's what they're looking at. And it's pretty accurate. But ignore any 'score' or 'rating' generated by Experian. As Experian seemed to create those out of thin air. And that information isn't available to lenders anyway. They will create their own score based on your credit history.

 

[Vesta]

is a default the same thing as a late payment??

No. They show up differently on your credit file. Late payments will show how many months overdue it is, or was. A default is down the line, when you haven't paid for months. It's basically a last resort, and is considered much more serious.