Credit Record - Querying banks marks?

[maangov]

Hey all,

 

Checking my credit record shows 3 recent late payment marks on my current account. I dont believe any of these to be correct. Are there any letter templates to query this information with HSBC?

 

They probably relate to payments made to a managed loan, which bounced from my account. Strange that they reflect this against the current account, and not the loan itself. In any case, there were probably 3 late payments, however they were not consecutive. probably spread over 7 months, with on time payments in between. Therefore they should be individual '1's' not recorded as 3 in a row.

 

Any advice/letter help much appreciated.

 

MA

[Stornoway]

I may be wrong but i think some of the banks report a late payment mark if you have gone over limit in the month or they have bounced a dd.

[patrickq1]

im being ignorant here what is a payment mark is it like a points type of system kept for internal records or do experium and the likes have access to this mmm i wonder if they do would be really intrested to find out

[Stornoway]

For each credit account reported to equifax or experian there is a monthly payment mark covering the last 6 years. If you pay the account when due then you get a "0" if you are a month late then you get a "1" if you are two months late you get a "2" and so on. Therefore for each account it may have a history something like 000000000000001100000001230000000000000000001000100000010 etc

 

When you are credit scored the system will take into account the above history and various other factors.

[patrickq1]

well my credit score must be worth a couple of mil lol what about experiun and the likes do they have this info as well

[Stornoway]

there are 3 main credit reference agencies in UK; experian, equifax and call credit. All 3 will have this info.

[patrickq1]

so that means without words spoken you could be on hundreds of points indicating a bad or troublesome payer etc:

surely experium and the like cannot have access to any of this whilst you have not ever bounced or missed any type of payment ...