Address the issue

By THIS IS MONEY
Updated:

 

WE recently had a request for a credit card refused, even though our details with credit reference agency Equifax appear to be in order. We moved into our home two years ago, and it appears that a number of credit card and business accounts still have our address as the contact details for the previous owner. Could this be affecting our credit rating and what can we do about it? SJ, Holywell, Flintshire.

Jill Stevens from credit reference agency Experian says: Unless the man who lived at your address before you has the same name as you, then his financial details will have no bearing on yours.

Lenders check information in your surname only at your address when you apply for credit - and this is with your consent. The credit reference simply provides some of the information that the lender will use when making the decision whether or not to grant you credit, which is why you cannot find out why you were refused from your credit file - especially if all your details look okay.

You will have to write to the credit card company to find out why you were refused. Under an industry code called The Guide to Credit Scoring they should give you the 'principal reason'.

It is worth checking that your Equifax file shows that you are on the Electoral Roll as lenders check your name and address against that register. There have been problems with the register this year, so if your record is not up to date, contact Equifax (write to Dept 1E, PO Box 3001, Glasgow GS1 2DT, 08705 143 700) to find out how to put matters right.

If you want to do the same check with Experian contact Consumer help Service, Experian, PO Box 8000 NG1 5GX.

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