In response to latest blog post

I found the blog post to be important. Especially for those who aren’t familiar with open banking.

I personally have found open banking to be useful for accessing financial products which I usually wouldn’t be accepted for due to my credit history. I have dealt with Credit Kudos as my open banking applications, and found it to be the smoothest and easier of them all.

I liked that you mentioned Creditladder, and checked it out. The only downfall I found was, it was a paid subscription service basically. It’s plus, is that it reports to Equifax. Whereas Canopy, which I use is free to and does almost exactly the same. It’s even powered by Experian according to its website. It seems to only report to Experian.

But the question on my mind, which I wish to address in a new post… Is do these credit reporting/building services actually impact my credit score?

Thanks for taking the time to read and comment on this post.

Jamie here (Fronted’s CEO). There are a few paid-for credit building products out there and the jury is still out on how successful some of them are at improving your credit score; rent reporting - which you mentioned - is relatively new in the credit building world and so the reporting impact in Experian is still not known.

Credit Scores are, in a way, detrimental to a lot of people. The best way to prove you are ‘trustworthy’ in a traditional sense is to prove they you are good at repaying credit; paying your contractual commitments on time and that you have known addresses. But, as you mentioned, they do not account for the affordability someone might have when applying for credit to the same level as open banking.

If you like - I can see if an old friend from Experian can pop in here and update you on rent reporting’s impact on scores?

That would be cool if you could get someone from Experian to give their opinion and knowledge!

Thanks J-C

Ok. Here’s your starter for 10 on Experian’s Rental Exchange…The Rental Exchange Initiative | Consumer Information | Experian Business

@Hsilsby05 - Rob is a senior leader at Experian with a link to more info about rent reporting.

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