You are able to browse and search through our website without providing us with any personal data or information (please check the Cookies section on our website to learn more on this).
We do however require your accurate personal details in order for us to process any loan application you may submit to us. Once applications have been submitted this information may also be used to help us to constantly improve the products we offer and the service that we provide to our valued customers.
We may collect the following information:
- Web page http headers (domain names, IP addresses, type of computer used and type of web browser)
- Information provided to us through on line forms such as loan applications, surveys, or other entries such as name, email address, home address, date of birth, personal and financial information or demographic data
- Information on what pages our users access
- Automatic information and cookies (see Cookies section for further information on this)
- Information about your transactions with us, payment history, loan balance and other information you may pass to our business when you contact us
- Information we receive from third parties such as Credit Reference Agencies (CRA)
- To ensure that material we provide to you is relevant to you specifically we may monitor what images and links you click therein. Our email communications may also include HTML based messages which include a coded sensor that is activated when the email is opened. When used these sensors communicate to us the date and time the messages are opened but also if your computer is capable of receiving HTML based emails. Note; you will only receive a functioning sensor if your computer is enabled to accept HTML emails
We will use the data and information provided to us to search the files of one, or more, CRA’s; this is done as part of our application process, with your approval, to enable us to check your identity, credit worthiness, income statements and bank details.
Following your application we will forward a request to our CRA for a search, as part of this process we will then leave what is known as a search “footprint” onto your credit file; this may then be seen by other lenders. They in turn supply us with public information (for example electoral register) and credit and fraud prevention information.
If your application is successful we will then feed back to CRA’s with details of the amount borrowed and how you, in turn, then manage your account with us; including repayment information. As such if you borrow from us and do not repay in full and on time this will be reported back to CRA’s who will then record this onto your credit file as an outstanding debt. This information can then be provided by the CRA’s to other organisations, who perform similar checks for further lending or to trace your whereabouts for any debts owed. These records will remain on your credit file for 6 years after they are closed, whether this loan is settled or defaulted.
You have the right to see the data that we hold about you and, where permitted, we can provide you with this and how we have reached our decision. Please note that we are unable to provide you with a copy of your credit reference file.
If you want to see what information credit-reference and fraud-prevention agencies hold about you, you can contact the agencies currently working in the UK. The information they hold may not always be correct so you can ask to see a copy of your credit history, as well as get more advice on how to improve your credit rating from the organisations listed below (please note some of these may may charge a small fee for this):
CallCredit, Consumer Services Team, PO Box 491, Leeds, LS3 1WZ or call 0870 0601414
Equifax PLC, Credit File Advice Centre, PO Box 3001, Bradford, BD1 5US or call 0870 010 0583 or log on to www.equifax.co.uk
Experian, Consumer Help Service, PO Box 8000, Nottingham NG80 7WF or call 0844 4818000 or log on to www.experian.co.uk
Teletrack UK Limited, 2 St John’s Street, Colchester, Essex, CO2 7AA
Further detailed information can also be found at:
We will receive any information surrounding previous credit applications and, for any approved application, we will be able to see your conduct on these accounts, such as whether you are up to date on the agreement, behind on payments, of have a history of sporadic payments but might currently be up to date.
We will also be advised of any “link” to other records. This could be if you have had another name or linked to multiple addresses for example or even that you are linked to other associates due to financial dealings. These links will remain unless you apply to the relevant CRA to disassociate you from this link.
They will provide us with details of any County Court Judgments (CCJ’s) that may held against you, along with any details of insolvency such as bankruptcy or an approved IVA for example.
Lastly we will be provided with information from the electoral register, which helps in verifying your identity.
If we suspect or know that inaccurate or false information is provided to us, including details provided to us to validate identity, or we suspect or know of fraudulent activity details about this will be passed onto FPA’s. These details will include personal data and once provided FPA’s may forward this onward to law enforcement agencies.
We are also able to access and use information that is held by FPA’s to detect and prevent crime, fraud and money laundering activities, this may also include information recorded by foreign FPA’s.
My Finance Club employs automated decisioning-making models based on the information that you provide us in your application, information provided to us by CRAs and FPAs and match that against lending profiles which we have developed. Additionally, based on the performance of our loans, sources of data/applications, general consumer profiles, along with information provided through CRAs and FPAs, we will develop new profiles which will help assess future potential applications. Under Article 22(1) of the General Data Protection Regulations (GDPR) you consent to My Finance Club using such processes.
Our automated decisions are based on the information that you provide to us in your application, such as, your residential address, age, dependencies, employment information, monthly income, general expenditure, credit expenditure.
We will also use the information provided to us via CRAs and FPAs which will include, your credit score, your reported debt levels, your actual regular credit related expenditure, any adverse reported credit and any adverse reported fraudulent activity.
We will use this information to automatically assess the affordability of the loan you have applied for, and your ability or likelihood to repay your debts.
The automated decision-making, along with the profiles which we develop, are in place to provide you with a quicker, more efficient and simple application process for your loan.
Should you object to such use of automated decision making then you should contact us via our contact us page, stating any compelling reason as to why such automated decision making should not apply to you and we will consider any such request and reply to you. Please mark any communication clearly for the attention of our Head of Legal, Risk & Compliance.