Credit Checks

[freak_unique]

Hey i am currently going for a rented house and have to have a credit check. I was wondering what factors do they check? do they base it on if anyone at ur current or previous household had bad credit or is it just based on yourself? cheers

[Buenchico]

Credit reference agencies are not permitted to base their checks solely upon addresses. (Otherwise, for example, you might be given a poor credit rating simply because you moved into a house previously occupied by someone with financial problems). They are, however, entitled to link you to another person with whom they believe you may have had a financial association.

For example, if Fred Bloggs moves into a house after Ada Smith leaves, their credit records can't be linked. However, if Fred Bloggs and Ada Smith cohabit at the same address, the credit reference agency have the right (in the absence of contradictory evidence) to assume that their finances are linked. If you believe that a credit reference agency has unfairly linked your credit status to that of another person (or if they did so fairly but there are now no longer any financial ties between you and the other person), you can file a 'notice of disassociation' with one of the main credit reference agencies. (This information is automatically passed on to the other agencies).

To do this, go here:
http://www.experian.co.uk/consumer/index.html
Click 'Questions', then 'About Your Credit Report', then 'Other People', then choose the appropriate link for the online or postal method of filing the notice.

Chris

[freak_unique]

cheers for that buenchoco

[freak_unique]

in a pickle - thats ace is that like 100% correct they only check with your bank? i have no bank charges or anything like that but was worried as ive applied for credit cards in the past and been declined but just been accepted for a capital one card so i cant be that bad heh! And i heard being declined worsens your credit history?