Experian Credit Report - 2 Strikes And Out???

Credit reference agency Experian has launched a new credit service for lenders. This new service will alert lenders when customers are showing early signs of struggling to make payments.

This could allow lenders to call in debts quicker and prevent any further borrowing. The service will trigger a message when customers miss a second payment or exceed credit limits and the likes.

Experian will also be watching for triggers such as high number of credit applications, which could not only indicate financial difficulties, but also identity fraud.

Experian will provide daily alerts based on 20 different factors it is monitoring. Lenders are expected to react by calling the customer to ask if they are in difficulty to reducing credit limits or asking for earlier repayments.

This service should help consumers by flagging potential identity theft cases and preventing them running up excessive debt over a number of lenders.

Worried about what data Experian hold on you? Ask for a free Experian Credit Report.