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Credit information expert says any delayed payments caused by RBS IT problems likely to show up 6-8 weeks later

London, 31st July 2012 - Leading online credit information provider, Equifax, is adding to the advice recently released by the Payments Council following the RBS Group software problems last month.

The Payments Council has said that it is working closely with banks, building societies, credit card companies and the credit reference agencies to ensure that credit reference data is unaffected as a result of the technical issues. If anyone is concerned their credit rating may have been adversely affected they can claim via their bank or building society for the cost of a single credit check from one of the three credit reference agencies, providing they do so by 31 October 2012.

Equifax is, however keen to ensure consumers know when is a good time to request a copy of their credit report, as Neil Munroe, External Affairs Director, Equifax explains: “The concern for some individuals may be that as a result of delayed transactions through the RBS Group (including NatWest and Ulster Bank) last month, payments to other lenders may have also been delayed and, as a result, this may go on their credit record and affect their future ability to access credit.”

“Generally there is a 7 to10 day period after a payment is due before it is recorded as being missed which will hopefully limit the impact of this issue on people’s credit reports. But our advice is that if someone is concerned that a payment hasn’t been received, firstly they should check any accounts to which payments should have been made to see if they have been received. If not, they should contact the lender to advise them of the reasons for delay”.

“If they are still concerned that a delay might have affected their credit status they can also get a copy of their credit report. But it’s important to note that due to the way in which data is supplied it can take up to 6-8 weeks for any payments on credit agreements from June to be shown on credit reports held by Equifax.”

“We are therefore recommending that consumers wait until at least August to obtain a copy of their report to ensure there hasn’t been any negative impact.”

Consumers can access their credit report from Equifax for a statutory fee of £2 or as part of an annual subscription service. For the latter service, access to their credit report is free for the first 30 days. After this time a monthly fee will be payable. Both of these services can be accessed online.

The Equifax Credit Report, with the facility to access credit information for the first 30 days free, gives consumers a valuable insight into their credit status. Accessible simply by logging onto it is designed to help individuals understand their credit file and see what lenders see to assess new credit applications. It also includes expert tips and advice to help consumers take the right steps to manage their finances and navigate through life’s challenges.

If the customer does not cancel before the end of the 30 Day Free Trial, the service will continue at £8.99 per month, giving them unlimited online access to their credit information and weekly alerts on any changes to their credit file. It also includes an online dispute facility to help them correct any errors on their credit file simply and quickly.

The Equifax app is available free from the Apple iTunes Store on iPhone and iPad and from Google Play for Androids.


For further press information please contact: Louise Fowler, Clare Watson or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email:

About Equifax

Equifax is a global leader in consumer, commercial and workforce information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers.

Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor’s (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. For more information, please visit