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Credit reports Q&A 1

What is credit scoring?

The information on your credit report and the information you provide on an application form to a shop or lender can be used to build a credit score. This is a rating that can be used to identify the risk in offering you credit. Credit scores do not take account of gender, religion, race or ethnic origin. There is no single credit score—different lenders take different factors into consideration when building their score, and those scores may differ between a lender's products.

Can I find out my credit score?

Nobody can tell you exactly how an individual credit application is scored, because lenders take different information into account in their credit scoring and may even have different scores for different products. And they won't tell you exactly how they do their calculations, as it is confidential and commercially sensitive. But if you are refused credit, they should give you a basic explanation of how scoring works, tell you the main reason for their decision and say whether this decision was because of information on your credit report.

What is available is your National Credit Score. This is based entirely on your Experian credit report and is available for a small fee to members of CreditExpert (Experian's online credit monitoring and alert service). Although lenders' scores are also likely to be based on information we don't hold (such as details of your job and wages), your National Credit Score is the best available guide to how your credit report will affect a lending decision.

Do other people who have lived at my address affect my credit rating?

Your credit report will only contain information about you. It will also show the name of anyone you share a financial connection with. Lenders will see the financial information in these other names and may use this when making a lending decision. If you believe that information in another name has caused a lender to refuse you credit, you may wish to ask the other person to request their credit report but they do not have to nor do they have to show you their credit report.

Why does my report contain information about other people?

Your credit report only includes financial information about you. If your report contains information from CIFAS - the UK's Fraud Prevention Service, it is possible that other names are shown here. For more information about CIFAS, Click here to visit the CIFAS web site at www.cifas.org.uk

Lenders may see the names of other people who are registered to vote at your addresses and financial information about other people who share a financial connection with you. They may use this to help them decide whether to give you credit. If you are financially linked to someone else, the name of this person will appear on your credit report under the Association section. If you believe that somebody else's credit report has caused a lender to refuse you credit, you may wish to ask that other person to get a copy of their own credit report. However, they do not have to do so nor do they have to show you their credit report.

If your credit report shows a financial connection that is no longer correct, you can ask us to remove it.

What are aliases and how are they created?

An alias is any other name you have been known by. As a result any financial information in these names appears on your report. We create aliases from the information you give to lenders, information you give to us, or from the public records. Your report will also show you how we know about the other name.

What is an association and how are they created?

An association shows that you have a financial connection with someone else. This is created by joint judgments, joint accounts, joint credit applications, or from information you gave to us or to lenders. Associations are not created for business partners. The name of the person you have a financial connection with will appear on your credit report, but the financial information about them will not. Your credit report will only show information about you.

Lenders can see financial information about anyone you are financially connected to and may take account of this when you apply for credit. If you believe that somebody else's credit report caused a lender to refuse you credit, you may wish to ask that other person to request a copy of their own credit report. However, they do not have to do so nor do they have to show you their credit report.

If your credit report shows a financial connection that is no longer correct, you can ask us to remove it.

Can I get other people's financial information removed from my credit report?

If you are not financially connected to other people shown on your report you can ask us to remove their information from your report. This is called a financial disassociation. We cannot do this if you still live at the same address and share a financial link e.g. joint account. If your credit report shows a financial connection that is no longer correct, you can ask us to remove it

What does a financial disassociation do?

Once a disassociation has been created, lenders requesting your report no longer see details of the disassociated family member or members. We will also notify the other agencies of the disassociation.

What should I do if I never had a financial connection with a person on my report?

Let us know and we may be able to remove their information. You need to tell us the full name of the other person, their date of birth and current address and you relationship to them.

I'm separated from my partner. Can our finances be separated?

We may be able to remove their information from your credit report, providing you have been living apart for six months or more.

I'm divorcing my partner. How will this affect my credit report?

We produce a series of leaflets to help you cope with the difficulties that may arise when you reach a "credit crossroads" in your life.

Can I get my former partner's details removed from my report if we share a joint account?

Unfortunately not. As you have a current financial connection, the details relating to your partner remain on your report until all joint financial commitments have ended. You can, however, add a short explanatory statement to your report (explaining the details or circumstances around the connection). This is called a 'Notice of Correction'.

If the only financial connection you have is a joint mortgage, we can create a disassociation between you and your ex-partner, providing you no longer live together.

Why aren't the other people at my address shown on the electoral roll?

Your credit report only shows information about you. If other people are recorded on the electoral roll at your address, we will hold this information and lenders will be able to see this if it is relevant to a credit application they receive.

Do other people who have lived at my address affect my credit rating?

Information reproduced with thanks to Experian
www.experian.co.uk