Equifax or Experian?

[teenymunchkins]

I posted a few days back about credit ratings and bank accounts etc.

Somebody suggested that I find out which credit company that businesses use when checking credit ratings.

Well, yesterday I walked into the Orange shop to see about mobile broadband with a laptop deal.  They did a credit check and I PASSED!! Absolutely delighted and they used Equifax.  So, hopefully, keeping my account in good order (as I will do) will help push my credit rating to an upwards level.

Was dead chuffed and at this minute am setting up my lovely new laptop :-)

Alison

[scotserve]

The ratings between the two are hugely different

Although I have no credit problems my rating on experian was below average yet my rating on equifax was excellent, when re-mortgaging it made the world of difference in finding out which one they scored on - well worth the effort as i got a cracking rate, I keep an eye on both scores but I have heard of people who get the opposite and have a better experian score - so if your looking to finance it is well worth obtaining both scores and play the best one.

[jack240302]

I used to assess personal loans for a major high street bank.  It is true that your score can be different between the 2 agencies & this will affect who you can borrow from.  Obviously this is due to the information held by each agency on you.  For example if someone applied for quite a lot of credit & the companies used the same agency then this would affect your score with the agency.  The same goes if your payment history is poor.  You could be turned down by one bank for a loan but be accepted by another only because they use a different credit reference search.

If someone hasn't had a lot of "debt" then this can also give you a low score & cause you to be turned down for credit.  My friend had to take on a credit card & show making a few payment before she could get a mortgage.

I always think of Little Britain when thinking about how credit is obtained now............................computer says no.