While many lenders provide information about their customers’ financial commitments to all credit reference agencies active in a particular country, some do not. Each would operate its own database and has its own set of data suppliers. In many European countries, there are more than one credit reference agency.So, in those countries, credit reference agencies will not hold any information about you even if you have taken out credit and have repaid on-time. Spain, lenders only provide local credit reference agencies with information pertaining to unfulfilled financial obligations, such as missed or late payments, judgment orders on debts, and other adverse or negative information. In a limited number of European countries e.g. If you are over 18 and you have taken out credit or borrowed money before, credit reference agencies are likely to hold a credit report on you.CRAs make sure that these organisations have robust systems to ensure data quality and security before they agree to share data with them. These organisations will use data provided by one or more CRAs as a basis for their score. Many other organisations specialising in credit scoring can provide a score to a lender. Scores provided by other types of organisations.Some CRAs may be able to offer you a guide credit score to help you understand how lenders might assess your credit report information. These scores may be used to complement their own scores, or they may be the only scores that they use as part of their decision-making process. Lenders may also use scores created by CRAs. While they may use information obtained from CRAs, they will also use their own information and algorithms to help calculate their internal scores.
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