Author's product rating: 
| Advantages: |
email service |
| Disadvantages: |
too many to mention |
| Recommend to potential buyers: |
no |
**Credit Expert**
-Summary-
Credit Expert is an online information company that collects credit history from individual financial business lenders . Credit Expert is part of Experian they hold vital information regarding your credit worthiness, and that is your credit score.
-www.creditexpert.co.uk-
I have written a review already about Experian and have touched on my experiences and findings. I have had some good feedbacks that was helpful. I appreciate the responses and have created an update for www.creditexpert.co.uk. Since being interested in how this powerful credit machine works it has been a big learning curve for me.
-Credit Scoring-
This is what determines what kind of lendership you are able to have, that is mortgages, loans, and bank accounts, credit cards, mobile phone contracts, in fact any monetry valued based credit. The system is in place as to protect you and your spending habits. The initial credit scoring methods were to enable an individual payment capping method; all to protect the adult public from overspending. It is not the case today as now scoring is determined on a few more added agendas that not all individuals know about. A credit score lowers depending on the number of credit searches are done within a certain time. It can be a sorry state of affairs when an individual is doing a lot of financial housework at the same time... for example if your moving house or having just got married or just simply switching to different dealership accounts for better deals.
What is unfair, is by having once a bad credit rating; you are labelled for 2 years as a bad creditor, regardless of change of financial circumstances. This is a mandatory time period that is subjected for everyone who has been labelled in this way. Many people do not know that they have been labelled. No notice of reason is sent via post, or communicated to you.
-Credit Rating-
The credit rating is a number that is directly connected to you. In trying to understand how it is compiled no-one so far has explained it to me.
In the past I have even asked for the reason for being rejected from having a business account; with £1000's in the bank. It was pointless. No reasons were being told to me and I got a letter from Experian; via CreditExpert (not explaining why I was not accepted) The bank lender said that it was subject to credit rating. . That same morning I had a 'very good' credit rating; due to asking the bank lender to constantly check the rating. The time spent putting everything in order was wasted. Obviously the rating got lower and lower. I am in favour of the credit system. It works and yet I still feel that I'm not being told the whole story. I can't help thinking that credit scoring has not needlessly complex and does discriminates many financially able people from using certain facilities.
-Credit Expert online services-
The online service has been well advertised on the net and also on Radio 4 this last weekend. In my last Experian review I did say that I was misinformed by an online advert. I stand next to my views. I was amazed to hear on Radio 4 that their services were £2.00 for a credit report viewing and that it was vital that everyone viewed their report even to check that it is correct. To put it bluntly, you have to pay a fee to view your own report, and then report back to them to tell them all is okay/or not as it were. Why isn't it right in the first place?
For £2.00 you can view your report once and only once. It is certainly better than what I paid. The membership is still £5.99 per month. This is due to the fact that Credit Expert have to pay for the rights of the information, 'your information'. I did wonder whether it could be possible to bypass Credit Expert and pay a more minimal fee. Now that could be questionable, even if it is your own credit report information.
You probably know that I now do not use the Credit Expert membership anymore due to the being caught thinking that it really was FREE. The saga continues as I still feel let down badly by the false advertising that reeled me and my bank account details into the clutches of Experian's spin. I have in return used the Credit Expert email system for my own uses. This is the good thing about the email service, even though I'm a non-member; Credit Expert still have to answer my account queries and by law have to answer them within 72 hours. How this is achieved again rather cleverly is by sending an automated email to you saying the email has been received. 14 days later you may get an answer. In the world of finance, it all moves very slowly.. It only quickens up if you OWE any monies. Credit Expert at least have answered the email and I credit them for that. What actually happens there after is another question entirely. Due to many problems with false names and accounts on my report last year. I do know now a few matters have been resolved, yet I still feel that Credit Expert mis-trust my own credibility. I know the checks have to be made by Credit Expert to verify any disputes I may have; if there is any conflict of interests via myself or the lender, I can guess that Credit Expert would side with the lender. At the moment, my disputed claim continues... slowly.
-Lenders and their hard sale tactics-
I've had a bad experience with a mobile phone provider who claimed I opted for a contractual agreement with them that has effectively blighted my Credit, which I claimed I did not want. By fraudulent sales tactics, bank details were obtained by the provider, by asking me to pay for postage of £1.92 for a contractual package, which I asked for, however, did not exist; I saw that a DD mandate had illegally been put on the account which I cancelled. The case goes on. In many cases lenders are truthful but due to hard sale tactics the lenders feel they can get away with anything.
I hasten to add that Credit Expert require to re-address certain policies so that the system becomes more fairer. I do have reservations though; even though I'm pleased I've been given a service which Credit Expert provides an EMR reference number to all disputes made, that appears to be well organised. Then realism hits you with the result slowness and the fact it takes a whole 2 weeks to correct simple data problems. I find it is questionable whether Credit Expert is run like a governing body with all this personal information, with no powers. Surprising really when the information they provide banks and lenders can make such a change to your financial life direction.
-What your credit score does not include-
We all live in a fast internet related work environment where fast transations are needed to survive to secure the best prices online. Monies are exchanged at a click of a mouse, the days are numbered for actually waiting for a week to have your balanced cleared ready for business. This is why more and more people are using online banking merchants. For years I thought that the financial information is stored and would somehow be included in your credit score. I was amazed that it wasn't, not a dime.
I've also found out that 75% of UK Bank managers do not know this is the case; yet banks use this credit scoring service to determine peoples futures; not just a little but 100%. I know that each bank has a different lender policy and all that but isn't it important that the information that Credit Expert provides is vetted/or correct at least.
-The Credit Expert site system-
What I do believe is that by individuals taking a more active role of their own credit rating, this inhand will at least give choices and a sense of responsibility especially with the increasing problems of UK debt. The whole credit system is in place so that you cannot view your own information at whim. I still feel that the Credit Scoring can work though, lack of information (from an information company...makes sense) is the problem.
-What you are actually getting with Credit Expert-
The site is www.creditexpert.co.uk, don't be fooled by the FREE credit advert. Credit Expert's business ethic is hardly truthful. Beware of the snake in the grass. Don't sign anything and you are entitled to come out of any membership at anytime, if you have got a Credit Expert membership. The 30 day trial does not exist. It has also been well documented that Credit Expert has not understood the Freedom of information act. You have a right to contest any fees that have been paid by yourself to Credit Expert, due to the false online advertising.
-Overal verdict-
Only use this service if you accept the payment terms. Read the small print. I hope you found this review informative. I'm happy to help with any questions.
| More Reviews |
 There is no substitute for "Experians"
Review of www.creditexpert.co.uk by
sue.51
Advantages: More accurate than Equifax, only £49.99 for unlimited reports, weekly alerts, substantial help files
Disadvantages: Need to print or generate a new report each time you want to refer back to something
...said.
I stumbled across www.creditexpert.co.uk through a website advert and decided to mosey on over and have a look. For those of you that have never heard of this website or company, they are managed by Experian, one of the two major UK credit reference agencies. Like Equifax, until recently, the only way to find out what was going on with your file was to send off your cheque for £2 with your name and address details for the last 6 years to:
...
...use Experian’s new on-line service, www.creditexpert.co.uk HOW DOES IT WORK?
Their home-page is packed full of information telling you what a wonderful service creditexpert is, and how it can help you manage your credit. They provide sample reports so you get an outline of what information you might discover. It also had a piece on why you should take control of your credit and an overview of the ‘explosion’ of identifies fraud.
The best bit is ...
Read review
Ciao members have rated this review on average very helpful |
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very helpful
31.05.2004
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 Who are you?
Review of www.creditexpert.co.uk by
Snorelax63
Advantages: You can get a good idea why your credit rating is in the shape it's in.
Disadvantages: I honestly can't think of any
After being turned down for yet another credit card, I decided I was going to find out exactly what companies didn't like about me. I visited the Credit Expert website and decided to enrol for the free 30 day trial. (If you want to find your Credit Score too, it costs a extra £4.99 a time. You can view that Credit Score for 30 days.)
Signing up was easy, you are asked to fill in answers to basic questions including where else you've been living ...
...six years or more. Even though the trial is free, you still need to give credit card details and after the 30 day trial (if you choose not to cancel) you pay £49.99 for the year.
After choosing your username and password, you are then told that a PIN will be sent to you through the post and that you would only need to use it the first time you log in. After that it's just straight username, password (and two letters out of your secret word) to get ...
Read review
Ciao members have rated this review on average very helpful |
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very helpful
28.07.2005
(19.11.2005)
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Experian your credit file online with CreditExpert
Review of www.creditexpert.co.uk by
nicolemorgan
Advantages: Quick and easy access to your credit report
Disadvantages: Can be expensive if you subscribe for a long period
Creditexpert.co.uk is a website run by Experian, one of the major credit reference agencies in the UK. If you want to see a copy of your credit file for any reason, then you will need to contact either Experian, Equifax or Call Credit. Each of these credit reference companies collects and maintains details of your credit history from individual finance companies. They have vital details about who you owe money to, how much you owe, and your past ...
...copy of your credit file through any of these agencies by writing and including a £2 cheque or postal order. But it is now quicker and easier to access your Experian credit file through creditexpert.co.uk.
Firstly, you are able to sign up to a free 30 day trial. So there is financial outlay for the first 30 days, enabling you to view and print your credit file as many times as you want within the first month without paying a penny. Now if you're ...
Read review
Ciao members have rated this review on average very helpful |
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very helpful
01.09.2008
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 Poor Service - Fraud
Review of www.creditexpert.co.uk by
kenhammond
Advantages: None
Disadvantages: Many
Fraudulent use of my details tro obtain a credit report about me.
In short a credit report had been obtained from credit expert in my name without my knowledge. It would appear that someone using my CC details and address were able to do this by quoting my details. The email address given was not mine so I can only assume that Credit Expert sent a report of my credit status to that address.
Worrying this is it not?
This came to my attention by ...
...on receipt I contacted both Credit Expert and Experian who were both either unable or unwilling to help. I aked for details of any report that had been sent to enable me to advise any relevant contacts of this fraud. They refused and said that the best they could do was pass the information on the their fraud department. Well its been over a week now and still no contact from either party. I even sent emails to the CEO and other directors. No response ...
Read review
Ciao members have rated this review on average helpful |
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helpful
17.10.2008
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 Beware late updates!
Review of www.creditexpert.co.uk by
pulsecom
Advantages: Interesting insight into credit profile
Disadvantages: Late updating of information leads to inaccurate report.
Whilst the product gives an interesting and useful insight as to your credit worthiness, I have found that there can be significant delays in Experian's ability to update information and so your report might not be accurate when viewed by a querying institution.
For example, I brought one of my credit card accounts up to date in the second week in August 2008 and monitored my report to see when the 'satisfactory' status would be reflected. After ...
...been forthcoming so I assumed that the financial institution concerned would provide an end of month update file to Experian. At the end of the first week of September 2008 there was still no update so I contacted Experian who told me that they were reliant on the financial institutions providing them with the information and that once received, they checked it for accuracy then applied the update. I suggested that they receive the information at ...
Read review
Ciao members have rated this review on average helpful |
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helpful
16.09.2008
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28.09.2005
