Can my neighbours affect my credit report and/or credit score?
My wife and I live in a single building (in London, England) which contains three flats/apartments.
We rent our flat privately (private tenants, renting from a private landlord) and the other two flats are rented by council tenants (affordable housing) who are unemployed and on benefits.
Both my wife and I are professionals and have good credit reports/scores.
However, we aren't being accepted for things such as credit cards where we have been predicted a 95.00% chance of being accepted.
In this specific case, when discussing this with the potential lender, we were told that our credit report (not necessarily our credit score(s)) was what prevented them from approving us for said credit card.
Without going into specifics, I want to know if the other people living in the building - and their poor credit histories - could have an effect on our personal credit scores.
To make it clearer, I want to know if the people living in 238A and/or 238B (we live in 238C) could negatively impact our credit profiles because they have poor credit scores (we know this because bailiffs often visit to reclaim unpaid debt).
Is this possible?
The reason I ask is because, despite living in different flats, we all technically live at number 238.
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No.
Well, it's not supposed to. Sometimes, however, data errors happen and credit bureaus report that debts belong to someone with a similar name or address. That's why it is useful to periodically examine your credit report and contest any entries that are incorrect.
In the US, if you are turned down for credit, you have the ability to obtain the credit report that was used in making that decision. I'm not an expert in UK law but I would expect that you have a similar ability to get the credit report that was used free of charge.
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