Reviewing your current credit report is far easier than you think. Your credit history is available for you to see online, accessible in just a few minutes. This information is kept by three UK companies – Experian, Equifax, and Callcredit. Let’s take a look at your credit report in more detail.
Your credit report is filled with plenty of information.
- All your credit accounts
A record of all your credit accounts for the last six years will be found in the credit report. This includes credit cards, loans, vehicle finance and house mortgages. Each report comprises maximum details about whether you paid them off, missed payments or whether you incurred any penalty fees. Other information in the report includes bankruptcies or other debt that has not been finalised.
- Information of partners, friends or business acquaintances with whom you have taken out any joint credit.
- Details of your current bank account
- If you are a registered voter
- Personal details such as your full name and date of birth
- A list of both your current address and any previous addresses you might have had.
- Your fraud record
Your credit report will not include
- Your current or past salaries
- If you have a criminal record or not
- Your religion
Who might look at your credit report?
Although you may think that only lenders such as banks or loan companies will look at your credit report, you would be very mistaken. Applying for a mobile phone contract? The service provider will check your credit report to see if you are able to make payments. Applying for a new home to rent? Even landlords and the agencies they use can see your credit report although with slightly less information than a bank would be privy to.
How can I see my credit report?
Finding your credit report is a simple task, although often, credit agencies will make you pay a small fee to see it. In fact, the three credit agencies, Experian, Equifax, and Callcredit, are obligated by law to provide you with a report should you request it. Some other companies also offer free access to your credit report, although this might not be as in detail as a full report. These companies are Noddle and ClearScore.
What if I want a comprehensive credit report?
A full credit report is available from both Experian and Equifax. They will allow you to sign up for a 30-day free trial by providing your details as well as credit card information. This will allow you access to a comprehensive report filled with every bit of credit information about you made available. This can be viewed as many times as you like during the 30 day period. Be aware, if you do not cancel the service before the 30-day trial is over, they will deduct a monthly charge from your account.
When or how often should I check my credit report?
Although it is nice to know your credit rating, there is no need to constantly check your credit report. A good rule of thumb is to access it before you intend to approach a lending company for any form of a loan, be it for a house mortgage, vehicle finance, credit card, personal loan or even a mobile phone contract. Having a good idea of whether you will be successful or not is important. Regularly applying for a loan or finance that you will never qualify for can harm your credit rating.
If you are not applying for a loan anytime soon, there is no harm in checking your credit report at least once every six months. By doing so, you can help pick up any mistake that might be prevalent as well as find any accounts that you may have inadvertently forgotten to pay, which will quickly help you to rectify your mistake.