Amex credit checks

[Mal]

I use the Veda Advantage "My Veda Alert" service, which sends me an email every time a company looks at my credit report or makes an annotation.

( Take control of your credit identity )

Quite handy normally to see what's happening and guard against false applications being made in my name for credit. The emails turn up around 5am the day after any check/annotation is made.

Recently, I've received alerts that activity has occurred on my file by Amex. These are similar to:

Consumer Credit Provider - New Listing
Credit Provider: AMEX CREDIT DEPARTMENT
Date of Listing: XX-XX-2003
Application Details: It was reported that a credit account, reference xx_xx_xx_X was opened for you and that you have an ongoing credit relationship with this credit provider.

I also had another one added recently dated 2005 with similar data to the above.

These dates (roughly) match dates when I've applied for an Amex.

Interestingly enough, the first one should be invalid and not on my report due to the 5 year rule from placement (my contention is that it has been invalidly placed on my report now as it's a duplicate).

When I get motivated early next year, I'll request my full credit file to see what has been going on. But it looks like Amex have duplicated earlier entries onto my file.

This could have negative effects for me when I apply for credit in the near future. On the other hand, it could be a re-organisation of the data on my Veda file (but unlikely due to the 5 year expiry rule from listing of applications).

Has anyone seen similar recently?

 

[glass]

no, I think it's 6 yrs.

yeh, strangely amex insists on doing checks each time tho they already have your data on file as a long customer

u can email veda to fix 'dupes' for free.

 

[Andym]

Mal,

Had the same email pop through over the weekend also - the dates for me were March this year when I got my Amex Plat Charge.... But received the alert at the time too...

Should we be worried about receiving these emails?

 

[Dave Noble]

no, I think it's 6 yrs.

yeh, strangely amex insists on doing checks each time tho they already have your data on file as a long customer

u can email veda to fix 'dupes' for free.

They don't have details about other possible (bad) debts that you may now have

Dave

 

[Mal]

I spoke to Veda today.

They have received a raft of complaints/enquiries regarding Amex's behaviour and their recent 'population' of New listings for old enquiries. They don't want to anything, but will refer you back to Amex.

These entries remain on your credit report for 5 years from placement. During this time, anyone who checks my credit report will get an unclear picture as to my credit seeking behaviour as entries have been duplicated. This may, or may not affect a vendor's opinion of my credit worthiness in the future.

Amex claim that they are only "accesses" to the Veda file - not actual 'applications for credit' on the file - so it shouldn't be an issue. However, I don't believe this (The annotation is: "Consumer Credit Provider - New Listing") and will be looking into this further.

 

[glass]

indeed, it looks bad to have so many credit apps, I wouldn't accept it :evil:

 

[spunkarooney]

I’ve had entries added by Amex, HSBC and Citibank.

I intend to lodge a complaint with Veda Advantage about this. See http://www.mycreditfile.com.au/contact_us/contact_us_default.aspx Note: you should not use the form on that page to submit any inquiry or complaint as it is not a secure (encrypted) page, which in itself is of concern.

If Veda comes back with a response that is not to my satisfaction I will take the matter to the Federal Privacy Commissioner www.privacy.com.au

 

[markis10]

I’ve had entries added by Amex, HSBC and Citibank.



If Veda comes back with a response that is not to my satisfaction I will take the matter to the Federal Privacy Commissioner www.privacy.com.auhttp://www.privacy.com.auhttp://www.privacy.com.auhttp://www.privacy.com.au

You should also lodge a complaint with the banks/organisations nominated staffer for handling complaints prior to them being escalated to the BIO:

Mr Mark Lee Fax: (02) 9263 6084
Team Leader Executive Office
American Express Australia Limited
GPO Box 1582​

SYDNEY NSW 2001

Mr Jason Busch
Quality Assurance and Customer Relations Manager
HSBC
GPO Box 5302
SYDNEY
NSW 2000

Mrs Priscilla Bryan
Head of Customer Advocacy Unit
Citibank
GPO Box 204
SYDNEY
NSW 2001

And then finally the BIO:
Telephoning us:
You can telephone us on
1300 78 08 08
Monday to Friday
between 9.00 am and 5.00 pm AEST

Writing to us
You can write to us at:
GPO Box 3
MELBOURNE VIC 3001

eMail us at:
[email protected]

Fax us on:
(03) 9613 6399 ​

 

[beardoc]

no, I think it's 6 yrs.

It's 5 years for credit applications, and 7 years for bankruptcy proceedings.

 

[Mal]

It's a pity Veda Advantage have made it so hard to get a copy of your credit report for free (well, it's now harder for good reasons - to protect your privacy!).

You now need - photocopy of driver's license, photocopy of a recent utility bill, date of birth and other details.

Have put off requesting my Credit Report until after I deal with Christmas!

 

[rwatts]

I was considering getting a copy of my credit report but before I got around to it an organisation had reason to include a credit check and kindly showed me the contents. The only item was from Amex cooinciding with my QF Ultimate Amex application.

Richard.

 

[beardoc]

It's a pity Veda Advantage have made it so hard to get a copy of your credit report for free (well, it's now harder for good reasons - to protect your privacy!).

You now need - photocopy of driver's license, photocopy of a recent utility bill, date of birth and other details.

Have put off requesting my Credit Report until after I deal with Christmas!

Whilst I'm sure that this is the reason they give (increasing security), I don't believe for a minute that this is the reason that Veda Advantage has added the extra bits of identification like the bill in your name, etc. It's to make it marginally more difficult so that you will use the more expensive service. After all, if they were doing it to protect your identity, then surely they should be applying it to their paid service as well? But they don't - they're happy to take your money via BPay (which is not easily traceable by them directly) or Credit Card, and rush the report to you by the next working day without anything to prove that you are who you say you are, other than you are certifying that you are yourself on the online form.

If they accept "because the person says so" as sufficient identity for a paid credit report, then why isn't that good enough for a free report?

 

[spunkarooney]

There is no need to go to the credit provider then the “BIO” (which you should note is now the Financial Ombudsman Service).

Regardless who listed the data with Veda, the data is held by Veda and it is Veda’s responsibility to address any concerns one may have. If within 30 days Veda has not responded to your correspondence, or you are dissatisfied with its response, you are free to contact the Federal Privacy Commissioner.

Regarding Veda processes to gain access to your report, I agree with others, that the process is designed to steer you into a paid-for report. I always fax my requests for the free report. You need to provide nothing more than your name, date of birth and current residential address.

If they asked for more [identification information], I again would lodge a complaint with the Federal Privacy Commissioner and use some of the good points raised by beardoc regarding the discrepancy in identification requirements. A person requesting a free report can just as easily self-certify as one who is waving around a wad of cash.

 

[albatross710]

I think they are often more interested in the section that lists all of the possible credit problems and gives a YES/No.

Having a YES in any of these will be of greater concern than the number of credit cards.

I'd think that the card companies like people whom have lots of cards.

 

[markis10]

There is no need to go to the credit provider then the “BIO” (which you should note is now the Financial Ombudsman Service).

Thanks for the update of the name change but its actually the BFSO (Banking and Financial services), seems they got a bit more work to do following the odd insurance company failure :evil:

While the Privacy Commissioner would be the next step for credit reporting issues in general, such as those to do with real estate agents etc, in this case the organisations concerned have alternate dispute resolution processes in place that are far more powerfull and rapid in terms of getting results, being through the BFSO.

IF you choose to take the path recommended for all credit reporting issues then it pays to be familiar with the powers of the Privacy Commissioner, for instance its not well known that a determination by the Privacy Commissioner in relation to a consumer compaint can only be enforced by referring the matter to the Federal Court and that it is not unkown for an issue to take three years to reach resolution, you might want to read this report for further informaiton about the poor process:
http://www.consumeraction.org.au/downloads/DL99.pdf

I would be lighting as many fires as I could to get action if it was me, especially with the recent tightening of the credit market.

 

[oz_mark]

For reference, there was a thread earlier in the year regarding Citibank accessing files (see http://www.frequentflyer.com.au/community/citibank-rewards-program/credit-file-11828.html). A couple of possible reasons given:

1) Deciding whether to make an offer of some sort
2) Seeing if there were any defaults that they didn't know about. (generally when you sign up for a CC, you give them the right to access your file while the CC remains open)

In this case, it is interesting that old dates are being shown. I would have thought Veda would assign the date based on when the enquiry was made.

 

[spunkarooney]

markis10, whilst I loathe to correct you again: it is not the Banking and Financial Services Ombudsman (BFSO). That is actually the former name. It is in fact, as I have stated, the Financial Ombudsman Service (FOS). Please refer to www.fos.org.au for more information.

The correct place to take a complaint after being unable to resolve it with Veda is the Federal Privacy Commissioner – but you feel free to take the matter wherever you want.

You can take complaints to the FOS against members which are part of the scheme. You will note that Veda is not a member of the scheme. I repeat: as it is Veda who holds your personal information, it is against Veda that any complaint should be made. If Veda needs to liaise with one of its information providers in order to resolve an issue then that is its business.

Complaints may take a while to resolve via the Office of the Federal Privacy Commissioner (OPC) however as per the initial contact you receive from the OPC, if any situation is causing you financial or other distress then you should let them know. The OPC is successful in resolving many matters – just look at the case notes as an example of this. Many organisations will conciliate a matter via the OPC as they risk being named and shamed by the OPC if a determination is made against them.

Further, regarding “lighting as many fires”, I think you will find that many alternate dispute resolution schemes will not get involved if there is already someone else addressing the same matter.

I’m not going to make any further comment on dispute resolution in this thread.

oz_mark, regarding “you give them the right to access your file while the CC remains open” – in this instance they are not accessing it, they are adding new records. This is different to accessing your file to view it. Also, any access must be appropriate given the circumstances. For example, they can’t just access your file because the feel like it, or every few months just to see what you’re up to, or because you have made a complaint about them.

 

[oz_mark]

oz_mark, regarding “you give them the right to access your file while the CC remains open” – in this instance they are not accessing it, they are adding new records. This is different to accessing your file to view it. Also, any access must be appropriate given the circumstances. For example, they can’t just access your file because the feel like it, or every few months just to see what you’re up to, or because you have made a complaint about them.

I was just trying to distill the basic thrust of what was said on that thread. Problem is that I think that an FI having a look at your file is the same thing as an entry being made on the file (i.e. if they look, a record gets added).

 

[markis10]

markis10, whilst I loathe to correct you again: it is not the Banking and Financial Services Ombudsman (BFSO). That is actually the former name. It is in fact, as I have stated, the Financial Ombudsman Service (FOS). Please refer to www.fos.org.au for more information..

I stand corrected Spunkarooney, thank you for that, have always wanted to be the printer or signwriter that gets government business or in this case a body controlled by legistaltion, the number of changes in name are amazing.

I had a recent case similar to the OP but the offender was a telco company, I was referred to the TIO by the ACCC after being told if there was a specific body to deal with a sectors issue then they would be the best course of escalation rather than using the Privacy Commissioner who is somewhat disempowered by comparison.

 

[Andym]

Just spoke to Amex on the phone and they said they have been getting a few calls and they got an email distributed to all the CSR team - call them to get the email explained as I may have got some info wrong as I was in a rush at work...

Nothing to be alarmed at apparently - it was more of a malfunction or something.... i asked if they were checking my account to maybe send me out a new application for a card or something and she said 'maybe'

I don't spend $200K on my Plat Charge and have only had it since March 2008 putting through about $130K so far.... don't think that warrants an offer for Cent....

Hmmmmm