Credit reference agency informed of CURRENT account

In message , johnboy writes

Hmm, this is very interesting. Can you tell us which bank it is?

Also are you sure there isnt a credit facility somewhere with them that you arent using? i.e. a credit card you threw away, or an 'in case of need' overdraft facility?

Do their terms & conditions TELL you they are going to do this?

AIUI most UK banks do this - i.e. report your current account conduct to one or more credit reference agencies - usually it's included somewhere in the T&C's that information about your account would be reported to a credit reference agency or something along those lines.

An alternative would be something like a Basic Bank Account or a Halifax Cardcash account where AIUI no credit referency checks are made to open the account (but identity checks are so be prepared to produce the usual passport or driving licence along with utility bill etc). However I am not sure whether credit reference agencies are informed of the conduct on the account - someone could perhaps answer this?

Regards, Far

In message , Far writes

Not so. Most 'clearing' banks dont, which is why I asked who the bank in question was.

As a result of a similar question in this group, within the last few months I asked for my credit file from the 2 main providers to see what the outcome was. None of my bank current accounts were listed, despite them having authorised overdraft facilities which had been used.

I agree that this is often the case, but not on all.

Apologies for posting wrong information - I always swore my bank (HSBC) did this but I shall have to get my credit reference reports to assure myself - not had a look at mine since late 1999.

Regards, Far

My HSBC bank account doesn't appear on my credit report. I opened it ages ago, so they may have changed their policy. It is a "Graduate account".

cd

Thanks for all the replies so far

No

Well there's always the facility to report to a reference agency in the T&Cs. I just thought it was for bad behaviour, as it were.

I knew they would credit check me, I have no problem with this and it disappears after two years but reporting the account itself stays there until six years aftewr the account is closed.

Perhaps someone who works in a bank or an agency can tell me how easy it is to credit check someone, anyone, even if they haven't made an application. This is what I really don't like.

I should say the service I have got from Citibank over the last few years has been excellent, this is the first thing they have done which has surprised/worried me.

Yes. HSBC, Lloyds TSB, Natwest, Intelligent Finance (Halifax), and Nationwide (not a bank, but close enough).

I'm sure I've read somewhere that at least some of them will report to the credit agencies if you go over your overdraft limit, or leave the account overdrawn for more than one month without paying money into it.

That is normal.

Having it on your credit file will not do you any harm, and could actually be a good thing if you are looking for credit in the future. Credit includes things like mobile phone contracts as well as borrowing money.

In message , Far writes

One of my accounts is HSBC and it didnt appear.

In message , johnboy writes

No there isnt.

I would say that this is just a particular practice by Citibank, it isnt general practice for the other 'clearing' banks. Take a walk down the high street and pick somebody else.

Citibank isn't exactly 'High Street Bank', they are loan company with current account to tempt potential borrowers.

In message , Take a Walk writes

Yes, which is why they operate the c/a as though it were a credit line I suppose.