Is there a universal credit ratings blacklist?
Posted - 08/05/12
The universal credit ratings blacklist is simple a myth: instead,
each lender - ie banks - evaluates each application via their own
stipulated requirements and criteria. However, there are a number
of resources available to lenders, which can indicate your credit
worthiness. The three main resources that lenders check are the
1. Lenders can check if you have a CCJ: which is a county
court judgment that shows you have failed to pay money that is owed.
2. Lenders can check the electoral roll: which will provide
them with your address and date of birth. If you are not registered
on the electoral roll at your current address, this may be viewed
3. Lenders can check your CIFAS file - CIFAS is a Fraud
Prevention Service which checks if any known fraud has occurred
in your name or residence.
Credit rating, and fraud rating agencies - such as Equifax - are
usually employed by lenders to compile the above data, and will
have a saved credit file/report about you.
The things lenders cannot check are numerous; firstly, they cannot
check if you have been declined by other lenders, although they
can view your previous applications.
While CCJs are available to lenders, your other criminal convictions
are not. Your employment salary, medical files, child support details
and driving bans/fines are likewise not included on your credit