Credit scores in usa vs uk

It is a myth that a previous occupier of your address can affect your credit rating.  Credit search is based on name, DOB, address and previous addresses.  Unless a previous tenant of your address had the same name and DOB as you, then it has absolutely no bearing on your credit score.

It is true that it can be problematic if your new address does not show up on the postcode databse yet.  If you have this problem, get in contact with the Post Office ASAP and first of all, make sure you have the correct postcode for your address, and secondly, make sure your newly built address is added to the database.  Most banks will ask for additional proof of address if they cannot verify your address on the postcode database.

One caveat I would add to my first statement, one of the banks I used to work for would automatically reject credit requests from a certain postcode in the UK.  This was a very special case.  There had basically been thousands of credit card and loan applications from this "address", some had been approved, all were fraudulent.  It turns out the street which the postcode referred to wasn't a residential street, and there was systematic and organised fraud being perpetrated by a criminal gang from this area (it was in Birmingham).  That was truly a unique case, where any application for credit from that postcode was automatically refused.  I could forsee problems if at some point in the future, there was a bona fide residential address at that postcode.

It is a myth that a previous occupier of your address can affect your credit rating.  Credit search is based on name, DOB, address and previous addresses.  Unless a previous tenant of your address had the same name and DOB as you, then it has absolutely no bearing on your credit score.

It's not a myth!
I agree that it shouldn't happen, but I worked in the banking/mortgage business in the UK for many years and saw it happening all the time.   Client's Equifax/ Experian reports would frequently show up with lots of different names on them... previous tenants, sometimes family members.   My own credit report constantly shows an old account of my ex-MIL.

Equifax was quite bad at showing up names of previous tenants on the bank-side of the credit report, however these entries have no effect on your credit score (in most cases).  I never saw an Equifax report with entries like that on it.  These cases were the exception and not the rule - information about previous tenants should not affect your credit report.

Errors do occur, however, and incorrect information often does show up on your report - the credit reference agencies are legally obliged to correct this information if you bring it to their attention.  If you are denied credit, request a copy of your credit file from the reference agencies, and look for incorrect credit searches in your name.

People used to phone us when they were declined for a credit card or loan saying there must be someone else using their details fraudulently, because they have a brilliant credit record.  We weren't allowed to give them the information from their credit report directly, and would refer them to the reference agencies.  From looking at these people's reports, however, it was usually obvious they simply had bad credit history, and was nothing to do with identity theft or fraud (these cases were easy to spot, usually numerous requests for credit in a short space of time).