Since getting refused for a few loans I decided to check my credit rating at Credit Expert - which is run by Experian. This is the company that the banks use to judge whether you are worthy of their money.
Turns out my credit rating is only "Fair". Apparently the only thing that counted against me is the fact that I applied for some loans, which seems a little "Catch-22" like.
Anyway, I have since found out that Experian has a little bit of a dodgy business model. You have to submit your credit card details to access your score. That is fair enough as you need to really prove your identity. They then send you a code by post to your credit card address to log-in. Again, fair enough.
You actually don't get to see your credit rating for free - you can only see the information that they hold on you. Still seems fair.
To view your actual credit score, you have to £6.99. Okay, so I paid the money to find my score.
They then want you to stay as a paying user of Credit Expert, so you can regularly check your credit score to avoid fraud etc. Only £5.95 a month. Ummm, no thanks, just checking the once will be fine thanks.
Of course this is the same practice that the likes of Lovefilm use - entice you in, take your credit card details and then "ta-da" you are paying a monthly sub...unless you cancel. Now Lovefilm, if I remember correctly, make it fairly easy so you can cancel online if you want. That is the correct thing to do.
Not Credit Expert - you have to phone them to cancel. Now there is no good technical reason for them to have this obligation - most companies will try to do everything via the web because humans are so damn expensive (they need fed and cleaned regularly).
So the only reason to have this system is to trap chumps who never get around to phoning - chumps like me.
So now I have to try and remember to cancel this damn thing tomorrow (of course they are not open on a Sunday). What are the chances the phone queue will be rather long...