www.creditreportfaq.co.ukwww.creditreportfaq.co.ukwww.creditreportfaq.co.ukwww.creditreportfaq.co.ukwww.creditreportfaq.co.ukwww.creditreportfaq.co.uk

Credit Report FAQ.co.uk

See your own credit agency credit report online
Access to your own credit file with See My Credit

United Kingdom    

Credit Report

You can see your credit report from all the UK's largest credit reference agencies here. To see your credit report online now just enter your details and your credit file can be accessed straight away.

We offer impartial credit information based on over 20 years experience.

How to improve your credit status
How lenders calculate your credit limit
How to see your own credit report online

Find All Your Credit Report Answers Here:

A quick and easy one-stop shop for answers to most of your questions about credit report files. Useful links to services to search your own credit file, and to companies in the credit reference sector. 10/10
My Credit Report
Obtain your own consumer credit files now - simply provide the details required to identify your file and pay by credit card online. A fast, safe, legal way to see what's on your credit report. 
  • Shows you what banks and other financial institutions see
  • Reveals any errors - you can apply to change any mistakes
  • Add your own comments if you wish to explain particular circumstances

See your credit report

Credit Report Services...
See Your Credit Report
Get your credit report now and check what banks and credit lenders see when they run a credit report on you
Click here >>
Credit Report Monitor
Help to avoid an overlooked payment or identity theft ruining your credit - a constant watch alert can warn you
Click here >>
Business
For businesses needing to check the credit risk of customers a credit report on any UK business can be searched in seconds
Click here >>
The most common question we tended to receive over the years was from individuals asking for a credit status enquiry on themselves. Such an enquiry would require a credit search to be carried out, and this would leave a 'footprint' on the individuals credit file. The My Credit Report service provides a neat and fast solution.

Credit Report Agencies
Your credit report presents the information that is held by a credit reference agency on your credit file. Before granting credit or extending a loan or other facility, lenders may check your credit report to help them decide whether to approve your credit application and if so, at what rate of interest to charge you.

Your credit report can list your existing and recent credit accounts and reveal whether you make your repayments regularly and on time and in full. There can also be other information which can assist lenders to assess whether you appear to be a potentially reliable borrower and whether you can afford to take out more credit. The data held on your credit file can also include details of any CCJs - country court judgments - which have been registered against you for non-payment of debts. If you have been declared bankrupt this and individual voluntary arrangements are shown.

The credit reference agencies also use the electoral roll to show if you have registered as a voter at your current address. Before granting credit lenders like to check this as a precaution against fraud and to make sure that you live at the address you have given on your credit application. Your credit report can also list other people with which you have joint or shared financial accounts, credit cards, loans, or mortgages. The details of their credit report do not appear on your credit report, but lenders may run a separate credit check on these people as they are financially connected with you.

The information collected to compile your credit report comes from public records, such as county court records and the electoral roll showing your address, and this is supplemented by credit information from lenders. This type of information is sometimes called 'shared user information'. The lenders sometimes agree to contribute information to the credit reference agencies so that together the information can be accessed by them to help prevent fraud. Some lenders only share adverse data such as missed credit repayments, while other lenders choose to provide both negative and positive information such as your all your regular repayments.

Only you are allowed to access your own credit report. Lenders are allowed access to run a credit check on your credit history but they require a license to access your credit report and even then, they can only access it when you have given them consent. This consent is often included as part of the credit application form you are asked to complete and sign.

Before deciding whether to accept your credit application lenders use credit reports to assess whether potential borrowers appear to represent a reasonable credit risk, and also how they appear to approach credit and repayment. Lenders will also want to assess whether you already have more credit than you can comfortably repay. To calculate the likelihood that you will keep up with your repayments the lenders take the information in your application form and combine it with the data in your credit report, then they allocate each item a value. This is called credit scoring. The lenders can then use their own formula to calculate a credit score. In most cases the higher your credit score the more likely it is that you will be accepted for credit. You don’t have just one single credit score because every lender uses their own formula for their calculations. When you get your credit report, the credit agency may also include their own credit score as a guideline.  This may not be the same score you would get with a lender, but the credit agency score can give a broad indication of the overall credit status you appear to merit based on the information within your credit report. Lenders however would have more information upon which to base their credit decision, such as the information you provide in your credit application form, and if you already have an account with the lender they can refer to the information they already have about you on their records. The credit report will then be used to supplement this information.

Copyright Credit Report FAQ