There are many things on our credit report, the accounts we have, how we have paid them, civil judgments against us, and all of of it has to be true; an accurate picture or portrayal of how we have paid our debts and obligations.
But you may be surprised at what is not included in our credit files.
Information Not Included on Your Credit File
Let’s just go with the list, and then discuss it:
- Marital Status
- Medical Information
- Buying History
- Criminal History
- Credit Score
What no credit score on your credit report??
Yes, that is a separate report.
As you can see from the list above, there are may things that are not on your credit file, but could impact you receiving a loan or some form of credit.
Your income is a huge factor, however, most lenders ask this question when you apply for a loan. But suppose you inflate your income????
Obviously your medical history should not be a factor in getting a loan…..but what if you are terminally ill, take a 3 year loan with a life expectancy of 12 months?
Savings can be a big factor. You have £10,000 in savings, but do not want to use it to buy a car, you take out a loan or HP, to buy the car. The fact you have the cash to buy the car could possibly influence the lender to grant the loan.
Possibly, but it is not a part of your credit report.
You get the picture here, there can be other areas that lenders need to look at in order to grant a loan.
The future….Social Credit Reports.