Experian

Who is Experian?

Experian is one of the four main UK Credit Reference Agencies.

Experian collects information about you from several sources including judgment and insolvency information from Registry Trust, Electoral Roll information from over 400 Local Authorities in the UK, and credit payment history supplied to it by over 250 banks, building societies, motor finance providers, telecoms companies and other credit providers. Experian puts this information together into Credit Reports and sells them to lenders and telecoms companies to help them to make more informed (and more socially responsible) decisions about you. It also supplies Credit Reports directly and indirectly to consumers.

Formerly an internal department of Great Universal Stores plc, (GUS), this credit assessment function was incorporated to form Commercial Credit (Nottingham) Ltd in 1980. This was renamed as CCN Group Limited and traded as a credit reference agency, serving many UK lenders.

In 1996 GUS purchased TRW Information Systems and Services Inc, (TRW), one of the leading US credit reference agencies, for £1.7bn. Both TRW and CCN were renamed Experian, which created Experian’s global brand as we know it today.

Experian went public in 2006 to create Experian plc. It is listed on the London Stock Exchange (EXPN) and has its corporate headquarters in Dublin, Ireland.

Experian’s contact information is as follows:

Experian plc

The Sir John Peace Building

Experian Way

NG2 Business Park

Nottingham

NG80 1ZZ

Tel: +44 (0) 115 941 0888


Q: Why is my Experian Credit Score different to other scores?

A: Each Credit Reference Agency (CRA) uses its own and very different method of calculating your Credit Score. The calculation is often called a ‘scorecard’. The range of scorecards differ between CRAs. Experian’s scores provided to consumers range between 0-1000 (bad to good), very similar to checkmyfile’s Credit Score.

Experian Credit Scores cannot be compared directly to checkmyfile’s Credit Score because the distribution of scores within the two ranges are different, and even the average Credit Scores are different. The Credit Scores that Experian supplies to consumers are not the same as those it provides to lenders, which depend on whether the underlying scorecard has been developed specifically for the lender, or for more general usage and also upon the extent of information that the lender is allowed to use within the scorecard, which can differ substantially.

Q: What’s the difference between the information held about me at Experian compared to that held at the other agencies?

A: A Credit Report is made up of three types of information:

The first is public information which includes the Electoral Roll, the Register of Judgments and Insolvency Information, such as that relating to bankruptcy and Individual Voluntary Arrangements. This is much the same whichever CRA reports the data.

The second type of information is provided by lenders each month about how you are keeping up with repayments. Most of the larger lenders, such as Barclaycard, GE, Santander, RBS, NatWest, Lloyds, HSBC and Capital One, provide your payment history to all three CRAs. Some smaller lenders provide information only to one CRA. So each CRA has a different set of lenders supplying it with your monthly credit history. So if you have defaulted with one lender, provided that lender is relatively small and doesn’t report to all three CRAs, the default may only appear on one agency and not the other two. This will mean that your Credit Scores and Credit Ratings will vary significantly depending on which CRA is searched by a prospective lender.

The third type of information is search and enquiry information. This is information owned by the CRAs which relates entirely to the history of others searching your Credit Report. This can be used to determine how ‘credit active’ you are.

Q: How can I see information from Experian?

A: You can compare public Credit Report information supplied by Experian, alongside that supplied by the three other Credit Reference Agencies on your checkmyfile Multi-Agency credit report.

If you haven't already, you can try checkmyfile FREE for 30 days and then for just £14.99 a month which you can cancel online anytime.

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