Credit File

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ansettrule

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Hello everyone,I have a question for you all.
I have got a copy of my credit report form Veda and on it there is 2 occasions where Citibank have requested to view my credit file within 2 weeks in june/july this year. I have not applied for anything extra from Citibank in the last 4 years and nothing this year at all not even for credit limit increases.
On the report it says this part of the report is for my viewing only but citibank have looked twice without my consent.
Does anyone know why they would do this and do they have to ask for my permission or do you give them consent to even after 4 years of not applying.
What are the time frames???
Confused.
Thanks everyone
:confused: :confused: :confused: :confused: :confused: :confused:
 

vilemerchant

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ansettrule said:
Hello everyone,I have a question for you all.
I have got a copy of my credit report form Veda and on it there is 2 occasions where Citibank have requested to view my credit file within 2 weeks in june/july this year. I have not applied for anything extra from Citibank in the last 4 years and nothing this year at all not even for credit limit increases.
On the report it says this part of the report is for my viewing only but citibank have looked twice without my consent.
Does anyone know why they would do this and do they have to ask for my permission or do you give them consent to even after 4 years of not applying.
What are the time frames???
Confused.
Thanks everyone
:confused: :confused: :confused: :confused: :confused: :confused:

Do you know anyone dodgy who might be trying to apply for credit using your name?
 

ansettrule

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NO and when I rang them they said they can't give out that information and then I said that's not good enough and they said they would look into it and advise me by letter what's happening.

I will not let this go i think it is too important,I asked if somebody else may have applied for something and they said they can advise me of that and they don't have that information.

Not happy Jan.
 

vilemerchant

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ansettrule said:
NO and when I rang them they said they can't give out that information and then I said that's not good enough and they said they would look into it and advise me by letter what's happening.

I will not let this go i think it is too important,I asked if somebody else may have applied for something and they said they can advise me of that and they don't have that information.

Not happy Jan.

It could just be a case of someone else who has a very similar name applying for credit and it going on the wrong report. I would contact Veda and see if you can lodge some kind of dispute for the enquiries.
 

blankman

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Hi Ansettrule,

I have a citibank credit card too and noticed the same thing on my credit file earlier this year.

I have not applied for a limit increase and have held the card for 5 years but it still happened. As it says it is for my viewing only I haven't worried about it too much- after all it makes no mention of any further application of credit or any mention of outstanding payements etc. I thought they were maybe looking on the sly to assess my suitability before being offered a limit increase.

It is my understanding that during the application process there is that clause about consenting to access and exchange of information with credit reporting agencies. By initially agreeing to this and continuing to hold this line of credit you agree to this occuring at any time.

Not by any stretch saying citibank is doing the right thing by its customers but I don't think too much can be done. Would be glad to hear otherwise.
 

Dave Noble

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ansettrule said:
Hello everyone,I have a question for you all.
I have got a copy of my credit report form Veda and on it there is 2 occasions where Citibank have requested to view my credit file within 2 weeks in june/july this year. I have not applied for anything extra from Citibank in the last 4 years and nothing this year at all not even for credit limit increases.
On the report it says this part of the report is for my viewing only but citibank have looked twice without my consent.
Does anyone know why they would do this and do they have to ask for my permission or do you give them consent to even after 4 years of not applying.
What are the time frames???
Confused.
Thanks everyone

If you have a Citibank card then on the application, you have given them permission for them to be able to access your file since it is part of the terms of the application.

They may have just been doing occasional checks to see whether there is anything that could affect their desire to continue to provide a revolving credit facility and the fact that you have since heard nothing from Citibank that all is ok. mayhaps if you Veda record was showing defaults et al , Citibank may have ended your credit facility

Citibank has not looked at the part which is listed "for your information only" , just that their access to the record has logged a new access entry which is what you are seeing.

if you object to the credit card companies having access to the records, then you will have to close the account with them to terminate their right to do so and when applying for a credit card cross out the T&Cs that give them permission to access the records; there is however a v good chance that if you refuse them access to your credit records, that they will decline your application

Dave
 

Reggie

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Dave Noble said:
if you object to the credit card companies having access to the records, then you will have to close the account with them to terminate their right to do so and when applying for a credit card cross out the T&Cs that give them permission to access the records; there is however a v good chance that if you refuse them access to your credit records, that they will decline your application.

Dave, is this the conservative in you?
 

Dave Noble

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Reggie said:
Dave, is this the conservative in you?

mebe :)... I think that the chance of them offering the credit would be v low if they are refused access to the credit record, though there may have been cases where an application without check has been offered

Dave
 

Reggie

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Dave Noble said:
though there may have been cases where an application without check has been offered

Dave

With surnames like Packer, Murdoch etc possibly, but not likely for the masses I suspect.
 

ansettrule

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I have only got a credit card with citibank and no other lines of credit or home loans.
I have had this card for 11 years and the veda report says all information stays on for 5 years then comes off.
So i think that for the previous 4 and a half years they did nothing then all of a sudden twice in 2 weeks they accessed my credit file and that what's worries me the fact that it was so close together.
They have not offered anything else to me over the last few years and am wondering why they accessed my file.
I don't have any issues of any credit provider accessing my file as it is clean and always has been but now i am a little more careful who i will be giving out personal information to includine credit providers.:?: :?: :?:
 

Dave Noble

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Reggie said:
With surnames like Packer, Murdoch etc possibly, but not likely for the masses I suspect.

Well, I have been offered in the past pre-approved debt cards where there was no credit check required so they do exist, but indeed, it is not that common and possibly less common these days

As far as the OP goes, I wouldn't get too paranoid about it if there is no indication of a new credit check for new credit and that it is from a current provider of credit

Dave
 

beardoc

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I too noticed two accesses by Citibank of my credit file, in my case one in May 2007 and one in June 2007. I have not made any changes to my credit account with Citibank since I opened in in September 2006.

If you are concerned that someone is making an application on your behalf, don't be - if someone was applying for credit in your name, then there are places this would be picked up - for example, the list of known addresses on the first page of your credit file might have addresses which are unfamiliar to you (as people use your name, but have the credit application sent to another address), and an entry in your "personal credit applications" would show an application. In these cases, it's just that Citibank is having a peek at your file to see what's on there - perhaps they are wanting to get up to date addresses or see if you're applying for more credit with other providers (including maybe a home loan or a commercial loan).

That said, I have written to Citibank and asked them to explain why they accessed my account. I mentioned I am aware that they can, but I would like to have them explain their rationale for peeking at my credit file for seemingly no reason.

It will be interesting to see how they reply!
 

one9

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Disclaimer: I don't know much about what I talk about below, but because no one else has mentioned it, I will post.

I believe Baycorp has recently introduced a new service for credit providers where they can sign up to the individuals credit files that they provide credit to, and are alerted each time there is a change to an individuals credit file.

I believe you will find a new page in your credit file which lists the credit providers that utilise this new service. From the four banks that I have credit cards with it seems that Citibank is the only bank using this service on my credit file.
 

JohnK

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Please do not pay any notice to Baycorp or Veda. It really does not have much influence in credit card decision making unless you have a bad credit rating.

My situation is the perfect example if you wanted a real life experience. I have lost track of the number of credit cards I have applied for in the last 2 years, I get regular letters of credit limit increases and I take them up on the offer but I pay interest on the credit cards and always make the monthly repayments.

I couldn't care what has been added to my credit file since I last looked in July 2006. I have a very high credit rating and that is all that is important.
 

hedge

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There is actually no credit rating system in australia, so you can't really have a really high one or low one. (sorry if I misunderstood you)
 

beardoc

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sikeveo said:
There is actually no credit rating system in australia, so you can't really have a really high one or low one. (sorry if I misunderstood you)

You're right - Australia only has a "negative rating" system, where black marks are recorded against you, but not whether you have been a good credit risk. There is no "credit score" like in the USA.
 

MelUser

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Pardon my ignorance but who is "VEDA" and how would one go about viewing one's credit report or getting knowledge of its existence?
 

serfty

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MelUser said:
Pardon my ignorance but who is "VEDA" and how would one go about viewing one's credit report or getting knowledge of its existence?
Years ago this entitity was referred to as "CRA", then it became "Baycorp" - it's now known as Veda" .
 

beardoc

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Following my message via Citibank's Internet Banking service, I got a call back from a person at Citibank. I explained the situation, and that I was aware that others also had their credit files accessed more than once by Citibank back in May-July 2007.

He is going to get back to me on Wednesday with an explanation.
 
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