Information to help you deal with your CRF's

Moderators: TalbotWoods, JaneClack

Byoakserver
#160389 Hello,

I came across the following from the experian web site:

"We keep a record of all searches for 12 months. This allows lenders to take account of previous credit searches when you apply for credit. Your report does not show whether or not an application was successful. Keeping searches also means that we can tell companies who have searched a report in the past six months if we make any changes to it"


I was concerned to read that they tell companies who have searched your report in the past 6 months if any changes are made to the report.

Does anybody know a bit more detail about what changes are notified to previous searchers of my file. For example, if I apply for a current account and it was set agreed, does this mean that my existing bank would be notified of the details that I had applied for a new account, if they had searched my file in the previous 6 months for other reasons?
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ByYogi Bear
#160410
oakserver wrote:I was concerned to read that they tell companies who have searched your report in the past 6 months if any changes are made to the report.

Does anybody know a bit more detail about what changes are notified to previous searchers of my file. For example, if I apply for a current account and it was set agreed, does this mean that my existing bank would be notified of the details that I had applied for a new account, if they had searched my file in the previous 6 months for other reasons?

If you'd lodged a dispute with the agency over incorrect data on the file, as a result of which a default had been removed or a Notice of Correction added, then the agency would notify any previous searchers. I can't think that they would bother if the alterations to the file were just routine updates, or if a brand new account was added.

In the bank account scenario you've outlined, I think it's unlikely - there wouldn't really be much point in it. You could ask the agency specifically about it, though.
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ByTalbotWoods
#160415 This normally occurs when have applied for something (such as credit) and have been refused because of something on your CRF.

You then get the CRF corrected, and then the CRA notifies those that did the search that it has been amened so they can re-score.

It does not meant that ALL those who searched are notified, only those who carried out a score search, address search, etc.

In reality as the system uses computers to credit score very few are notified, normally only mortgage applications, and those who do a higher level search for higher risk finance.

Searchers ARE NOT informed if you open another account, as at present they cannot see your other transactions!!

Tim
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