Over the years I have heard the following so many times, I wish I had a £1 for each and every time.
- I am on the blacklist.
- I have been blacklisted.
- I have poor credit and was told I blacklisted.
- What is the blacklist?
- How can I remove my name from the bank’s blacklist?
The first thing to establish is that there is no blacklist.
No such thing, no credit blacklist.
You cannot be blacklisted.
But missed payments, being in arrears with an account, or having defaulted on an account, can be shown on your credit history.
No Blacklist, But There are Credit Reports
If you have ever been credit active, had a loan, car on finance, a credit card, eve had some catalogues, then you have a credit file, or credit report.
Your credit report has to be an accurate picture of how you have paid your accounts that are reported to the credit bureaus, who compile credit reports.
Your credit report will show the accounts you have and have had in the past, and how they were paid. The report will also have some details about yourself, such as your name and address, and it will also show any public records, such as if you were ever bankrupt, or had a CCJ/County Court Judgment.
So if you were to have poor or bad credit due to not paying an account as agreed, it would show on your credit report, not a blacklist.
If you were to apply for new credit, that bank or lender as a part of their application process, would review your credit file. If your credit score does not fall into what they require to grant credit, your application would be denied.
This is based on your credit history and credit score, no secret blacklist.