The two main agencies in the UK are:
Experian Ltd PO Box 8000 Nottingham NG1 5GX tel 0115 934
4050 & Equifax Europe Dept 1E PO Box 3001 Glasgow
G81 2DT tel 0990 783783.
No-one has a right to credit. Before giving you credit,
lenders - such as banks, loan companies and shops - want
to check whether you are an acceptable risk. To help them
do this, they may check with firms called credit reference
agencies to get some details about you and your credit record.
The main credit reference agencies keep information on their
computers about almost every adult in the UK. These agencies
do not keep blacklists or give any opinion about whether
or not you should be given credit. They simply provide information
about your credit record.
The credit reference agency will not be able to tell you
why you were refused credit. It is the lender who decides
whether you are an acceptable risk. Your rights If you are
refused credit you have certain rights. In particular you
have the right: to know the name and address of the credit
reference agency that the lender contacted for details about
you; to see any information held about you by that agency;
to correct any inaccurate information.
The Office of the Data Protection Commissioner has responsibility
for credit reference agencies and produces a leaflet No
Credit? on how to consult your credit record and correct
any mistakes.
You can order copies of it by phoning 0870 44 21 211. Credit
scoring Many lenders use credit scoring systems which allocate
points to various pieces of information given on your application
form, such as your age, your occupation and whether you
own your home.
These points are added together to produce your credit score.
This helps the lender predict whether you are an acceptable
risk.
Different lenders have different systems and pass marks,
so you can be turned down by one but accepted by another.
Your credit score is not part of the file kept on you by
the credit reference agencies. Lenders do not have to tell
you exactly why they have turned you down, but they should
give an indication of the reason.
(Source
http://www.oft.gov.uk)
