Clever consumers check their credit reports, says Experian
June 10, 2008 by admin
Filed under News, News-Loans
With attractive loan deals becoming increasingly difficult to come by, Experian has offered consumers advice on how to make sure that their applications stand the best chance of being accepted.
According to James Jones, the consumer education manager at Experian, people should take a look at their credit reports before making a loan application to ensure that all the information on them is correct.
“Lenders are using credit histories not only to decide whether to say yes or no to people but also to decide what rates to charge.
“So, clever consumers are checking their credit reports,” Mr Jones concluded.
Research from CreditExpert.co.uk has revealed that many people do not feel confident that they will be successful when making a loan application.
The company’s study found that 23 per cent of those polled believe they will be refused a loan of £1,000 and 42 per cent think they would not be able to secure a loan of £10,000.
Being added to electoral roll boosts credit rating, expert says
August 7, 2007 by admin
Filed under News, News-Credit-Cards
Performing simple tasks such as registering to vote for elections can boost customers’ credit scores, a financial expert said today.
Financial services advisors Experian recommended that customers add themselves to electoral rolls, so that companies can more easily verify their identity.
Consumer affairs manager James Jones said that being added to the roll particularly when you move is important, because “lenders use [the information] to check your name and address”.
“It will affect your credit score if you’re not on there,” he claimed.
Mr Jones offered more general advice to prospective credit card holders saying that “it’s a good idea, for a start, to actually look at your credit score and make sure it’s accurate and up to date and that you’re happy with it.
“Just use credit wisely”, he counselled. “Make at least the minimum repayments on your credits every month so that you don’t have any arrears recorded on your credit report.”
According to statistics from Checkmyfile, 1.6 million Britons are not currently registered on electoral rolls.
