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There's more than just 3 credit agencies, it's just that those three are the most reliable of them for credit reports. Given all the complications people have

There's more than just 3 credit agencies, it's just that those three are the most reliable of them for credit reports. Given all the complications people have with even those three, it really doesn't say much for the rest of the industry. The odd thing is, I never had to worry about this stuff in the UK. There's no notion of a credit score or centralised credit agencies that I needed to worry about. Most loan etc interactions take place with your existing financial institutions who already have your information on record.

nimish 9y ago
Uhh there totally is a credit score and reports in the UK. In fact Equifax and experian are two of the major agencies in the UK. So you aren't in the clear.
traitormonkey 9y ago
> There's no notion of a credit score or centralised credit agencies that I needed to worry about. Are you joking? Experian?
amyboyd 9y ago
There definitely are credit ratings in the UK! Try taking out a new credit card or loan or even getting a phone on contract -- they will almost always run a credit report check. Just Google "UK free credit report" -- there are websites like Noddle that will show you your report for free.
smsm42 9y ago
So what if you want to interact with an institution you never worked before - what happens? I.e., you move in to a new city and want to get a credit card?
ionised 9y ago
The odd thing is, I never had to worry about this stuff in the UK. There's no notion of a credit score or centralised credit agencies that I needed to worry about. This the opposite of how things are here in the UK. I'm wondering how you've not encountered Equifax, Experian, Noddle and the other credit reference agencies in the UK before. Even an application for a mobile phone contract in the UK will definitely end up going through these agencies at some point, and your bank most certainly will consult them when applying for a loan.

nimish 9y ago

Uhh there totally is a credit score and reports in the UK. In fact Equifax and experian are two of the major agencies in the UK. So you aren't in the clear.

traitormonkey 9y ago

> There's no notion of a credit score or centralised credit agencies that I needed to worry about. Are you joking? Experian?

amyboyd 9y ago

There definitely are credit ratings in the UK! Try taking out a new credit card or loan or even getting a phone on contract -- they will almost always run a credit report check. Just Google "UK free credit report" -- there are websites like Noddle that will show you your report for free.

smsm42 9y ago

So what if you want to interact with an institution you never worked before - what happens? I.e., you move in to a new city and want to get a credit card?

ionised 9y ago

The odd thing is, I never had to worry about this stuff in the UK. There's no notion of a credit score or centralised credit agencies that I needed to worry about. This the opposite of how things are here in the UK. I'm wondering how you've not encountered Equifax, Experian, Noddle and the other credit reference agencies in the UK before. Even an application for a mobile phone contract in the UK will definitely end up going through these agencies at some point, and your bank most certainly will consult them when applying for a loan.