Is my credit report what lenders see?

Dear James,

Does an Experian credit report show all a person’s creditors and do companies who give credit only see the same as the Experian report?

Dane, Ibstock

Dear Dane,

You’ve posed two questions there so let me take them one at a time. Firstly, your Experian credit report will show you details of all the credit agreements that the lenders we work with have shared with us over the past six years. While we work with most of the major lenders, there are a small number that don’t provide data to Experian. There are also some credit agreements that the companies we do work with don’t send to us. These are usually old agreements that can’t legally be shared because, when they were opened, the customers weren’t informed that data would be shared in this way. Having said that, our records are very comprehensive, which means that for many people their Experian credit report is fairly complete borrowing record. Moving on to your second question, there are two sides to this. The credit report you see is more comprehensive than the one lenders look at (with your permission of course) because only you see the actual names of your current and past lenders. You also see a record of all the searches of your report, regardless of the reason, whereas lenders usually only see searches carried out for credit-granting purposes. However, if you are financially linked to someone else – and your report will tell you this – then any lender checking your report may be able to view the other person’s credit history as well. (April 2012)

James
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