How long does information stay on my credit report?
A general rule of thumb is that credit report data lasts for 6 years. Debt
collection searches however are removed after 24 months and credit application searches are removed after 12 months. Linked addresses and Electoral Roll data are never deleted. Financial associations are only deleted upon request.
When will my Electoral Roll details be updated?
On average it takes 4 – 6 weeks for your local authority to update the Electoral Register and then an additional 3 weeks for Equifax to notify us. We update your credit file the instant we receive this information.
What is a Notice of Correction?
This is a statement of up to 200 words that explains any information on your credit file that isn’t necessarily wrong, but you believe could give lenders a misleading impression regarding your creditworthiness. For example, you might want to explain a period of bad debt that was due to circumstances such as a relationship break-up, unemployment or ill health. Please be aware that we won’t add your notice of correction if it’s incorrect, negatively affects someone else’s reputation, frivolous or scandalous, or in any way unsuitable for publication.
How can I improve and manage my credit score?
Lenders do not use the credit scores provided by credit reference agencies. So, we put a lot of blood, sweat and tears in to developing a better system for consumers. Credibble’s clever technology takes the guesswork out of building creditworthiness. Simply look at your Credibble Score Booster and you will find helpful and harmful tips to controlling your creditworthiness. These actionable insights are personalised to your circumstances and are based on the criteria lenders use to determine creditworthiness. With regular updates, our technology will also take account of changes in Lender’s criteria, so you can always feel confident that your tips are valued by lenders currently providing credit.
What is the Credit Reference Agency Information Notice (CRAIN)?
This document describes how the three main UK credit reference agencies each use and share personal data that they receive about you and/or your business that is part of or derived from or used in credit activity.
What is the General Data Protection Regulation (GDPR)?
It’s the European data protection regulation that came into effect on 25 May 2018. Under new GDPR rules, credit reference agencies in the UK like Equifax will be required to follow guidelines on how to handle data that they receive about consumers and businesses.
Why can’t I access the Credibble website?
To remain secure, and compliant with the latest regulations, from time-to-time we carry out essential site maintenance. We also like to ensure that Credibble is accessible on all web browsers and sometimes browser updates mean we need to perform upgrades to our site. So you can enjoy Credibble, any downtime that results will be kept to a minimum.
How do I make a data Subject Access Request to Equifax?
Please select the product “Subject Access Request & and category “I would like to make a Data Subject Access Request Application“. Please fill out the form and send this to us at: Credibble Limited, Plexal, 14 East Bay Lane, London, E15 2GW.
How can I cancel my account?
We would love you to stay, but If you are sure you’d like to close your account, please login to your account and under your profile information, select ‘Delete Account’.
How can I dispute information on my Equifax credit file?
Your credit file is provided to us by Equifax. They compile your file based on information from banks, lenders, mobile phone companies, utility companies and any other organisations that appear on your file. This file is updated once a month, and so your file may lag 4-6 weeks behind any changes. If you think your credit file contains incorrect information that is greater than this period, you’ll need to contact the lender involved, as only they can make this change and authorise Equifax to update your file. Errors may include but are not limited to, incorrectly recorded late payments, arrears or defaults or not being recorded on the Electoral Roll at your current address. If the lender agrees that the information is inaccurate, they can make the necessary amendment and then instruct Equifax to update your file. If there is information on your file which is correct, it won’t be removed until the entry has expired.
If you think your credit file contains incorrect information that is greater than this period, you’ll need to contact the lender involved, as only they can make this change and authorise Equifax to update your file. Errors may include but are not limited to, incorrectly recorded late payments, arrears or defaults or not being recorded on the Electoral Roll at your current address. If the lender agrees that the information is inaccurate, they can make the necessary amendment and then instruct Equifax to update your file. If there is information on your file which is correct, it won’t be removed until the entry has expired.
When will my Electoral Roll details be updated?
Electoral Roll registrations are mostly accepted by local authorities at any time, but each local authority will operate a monthly cut-off for supplying these updates to us. If you register before your local authority’s cut-off date it will typically take four to eight weeks for your registration to appear on your credit file. If you register after your local authority’s cut-off point, your registration details will not be supplied to us until the following month. This is likely to take around six to eight weeks to appear on your credit file. We do not retain information about local authority cut-off dates as they are subject to change.
Linked addresses are all the addresses where you or any of your financial
associates have lived, and where you have applied for, or taken out, a credit agreement together. Past and present addresses become linked when you have provided a company your current and previous addresses and they perform a credit search against both addresses. It will occur if you inform a lender that you’ve moved – the next time they update your account information they will link your current and your previous addresses. Linked address information remains on your credit file indefinitely.
What is a financial associate?
A financial associate is someone who is financially linked to you, usually through a joint agreement such as a bank account, loan or mortgage. An association can also be created if you make a credit application with someone else or if you act as a guarantor for another person.
Who are CIFAS?
Credibble is a member of CIFAS, which is a national fraud prevention service. CIFAS can place Protective Registration and Victim of Impersonation warnings on your credit file. These highlight that the lender should take extra precautions before opening a new account, to ensure that the applicant and application are genuine.
Who are Action Fraud?
Action Fraud is the UK’s national reporting centre for fraud and internet crime where you should report fraud, attempted fraud or cybercrime. To submit a report, visit www.actionfraud.police.uk.
What information is in the Credit Agreement section?
When you open a credit account (for example, a credit card or mortgage), you agree to your information being shared with credit reference agencies. For each credit agreement, credit reference agencies record information such as your credit limit and repayment history. Lenders submit this information monthly. Credit reference agencies cannot delete or change credit agreement information without the written permission of the respective lender. Active credit agreements stay on your report indefinitely, showing the last four years of payment history. Once an agreement is closed, the information stays on your credit file for six years.
What are searches?
When you search for credit such as credit cards, loans and mortgages on most websites, different lenders may view your credit file to check if you’re eligible for their product or products. This is called a ‘soft search’ (or quotation search) and does affect your Lender Score. When you go ahead and apply for credit (such as a credit card, loan or mortgage), your chosen lender will often perform a full credit search on your credit file to come to a decision to lend to you. This is called a hard search (or application search) and will affect your Lender Score. Other types of searches may be performed too, such as for identity verification or debt collection purposes.
Can people who have previously lived at my address affect my Equifax Credit Score?
Previous occupants of your home, or people who are currently sharing your
address, will not affect your Equifax credit score unless you are financially
associated. A financial associate is someone with whom you’ve applied for a credit application, like a joint credit account or mortgage. Their Equifax credit file may be taken into account by lenders when you apply for new finance.
What is a Credit Score?
A credit score is a measure of an individual’s creditworthiness which is calculated by a credit reference agency, such as Experian, Transunion or Equifax.
How can I protect my identity?
Check for any new accounts and credit searches on your homepage under the Fraud Watch tab. If this displays a new account on your credit file in past month, but you believe it was not opened by you, this can be a strong sign that someone has committed fraud in your name. You should contact the relevant lender immediately and inform them that you may be a victim of fraud. This will allow the lender to cease the account and investigate.
Equally, the presence of unrecognisable credit searches may indicate someone trying to take finance under your name. You should contact and notify the relevant lender who will stop any credit applications and will also investigate this further. Regular checks of your Credibble account can help prevent fraudulent use of your personal details. If you are a victim, you will be well placed to act as soon as possible to limit its negative effects.
Why is my bankruptcy still showing on my Equifax credit file?
Most bankruptcy records remain on your credit file for six years from the date of bankruptcy, even if you’ve been discharged before this time. In order to have a bankruptcy accounts marked as settled, please contact each of the lenders with a copy of your Certificate of Discharge. Once they update their records, they will notify the credit bureaus and this information will be passed on through a credit reference agency or agencies and updated on your credit file.
Who can view my credit information?
With your permission, anyone with a valid business reason can look at your credit information, although they may only have access to limited types of information. People and organisations may include, although this is not limited to: potential lenders, landlords, insurance companies, employers and potential employers, companies you allow to monitor your accounts for signs of identity theft or changes in your credit file.
Why was I refused credit?
Giving an answer which is 100% accurate is almost impossible, as every lender uses different cut-off levels in their Lender Analysis and does not share this information with us. Credibble, however, solves this to some degree, as we are the first company to perform a detailed analysis which shows exactly how you are scored (in your Lender Analysis). Areas where you have scored poorly and are graded relatively low (e.g D or E) are likely to be areas that concerned a lender sufficiently to result in a decline.
Will I be penalised for shopping around for the best rate?
No, searching loans by eligibility won’t affect your score at all. Credibble uses Silent Search technology so window shopping doesn’t appear on your credit file. However, making a formal application for a loan will affect your Lender Score; so only apply once you’re confident about your decision.
Can a lender see my Equifax Credit Score?
No – Lenders cannot see your Equifax Credit Score. Lenders generate their own unique Lender Score, which is based upon your credit file. Credibble has been painstakingly designed to utilise the multitude of factors that go in to a lender’s true assessment of your credit file. We are proud of what we have created and believe it finally unlocks the lending scoring system for the benefit of consumers.
Can a lender see my Credibble Lender Score?
No – Lenders cannot see your Credibble Lender Score. Lenders generate their own unique Lender Score, which is based upon your credit file (as shown in your Lender Factors). Your Credibble Score works in a similar fashion and is designed to give you a true likeness of your credit file from a lender’s perspective. It’s the closest you can get to a credit check and we believe your Score Booster makes it infinitely better. Your Score Booster provides you with personalised tips on how you can improve your creditworthiness and harmful actions to avoid.
What is a credit report?
A credit report is the viewable format that a company generates from a user’s credit file. This provides information on your personal credit agreements and payment histories. It also shows electoral roll, court judgments and other information. We developed the Credibble lenders factors to be the most insightful and actionable report that is available anywhere.
How do I stop getting messages from marketing companies?
Credibble does not share or sell any personalised user data – so this cannot have come via us!
How is Credibble regulated?
Credibble is authorised and regulated by the Financial Conduct Authority (FCA) and Information Commissioner’s Office (ICO). The Information Commissioner’s Office provides Credibble with a Data Protection Licence and regulates the company; ensuring we strictly manage your information to comply with the Data Protection Act.
What’s the Credibble complaints procedure?
We work hard to give you the best possible service and for free. Sometimes,
though, we don’t get things right. If you’re not happy with the service you’re receiving, please tell us so that we can put things right as soon as possible. We try to make it as easy as possible for you to share your concerns with us, and we want you to be happy with how we handle them.
You can send us your complaint through our website by going to the contact us button or by send us an email at: firstname.lastname@example.org