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Information on Credit Reference Agencies

by Jim ONeil on September 10, 2010

in Guides

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Accessing Your Credit Report and Rating

You can get access to all the contents of your credit file. These files are used by lenders, financial institutions, building societies and banks in order to check if you are suitable for loans, banking products or credit. The credit files would have a lot of interesting facts and information about you which are as listed below:

  • Information given by financial institutions, lenders and banks
  • Credit applications
  • Bankruptcies
  • IVAs
  • Court judgments
  • Electoral roll information

How Can One Access his/her Credit File?

There are several different ways in which you could access your credit file.

According to law, you have a right to request a copy for your statutory credit file for approximately 2 GBP from one of the credit agencies- CallCredit, Equifax and Experian. The report would be sent to you by post within a week and it is an inexpensive way to get access to your credit file.

Another easy way to get the information you need is to register online with either of the three agencies or even at a reputable agency which offers access. You would be able to view the companies which offer the service in your area.

These companies offer you access to copies of your credit report and credit rating online along with assistance and help to understand the file and how the banks and lenders would view it.

How Much Would it Cost?

If you order a credit report directly from the credit reference agency, it would cost you around 2 GBP and would be sent to you through post.

You would be able to view your file for free online when you register with one of the online companies for a trial period. This is an easy and a convenient way to gain access to your file.

You would be able to cancel your registration or go for a full subscription at the end of the free trail for which the price would vary. A few companies would provide the service for 5 GBP a month and above.

Would I be able to correct mistakes?

If there are any errors in your credit report like an incorrect address, you can only notify the agency so that it would be rectified. You would have to report errors as fast as possible since these agencies take a while to correct the mistakes.

Can Credit Ratings be Repaired?

You can take many steps in order to improve your credit rating. You can pay off your overdrafts and loans as well as your credit cards as soon as possible. Sticking to your monthly limits on credit cards is also a good way to repair bad credit.

Most agencies would be ready to offer you useful tips and advice on how you can improve your ratings.

What are the Additional Features?

Most credit agencies would offer you some additional services like fraud alerts which are very useful to protect against ID theft. Agencies would also provide you tips and advice on how to manage your ratings and how to improve your credit ratings.

Dicky Bree

It’s not as easy as all that to get your credit score. I had someone intercept my post and they ran up an Amex bill. My credit score is now wrecked, i’m pulling my hair out.

Vincent-Strong-Editor-UK-Fast

Hi Dicky

It’s actually easier than you think to get your credit score. Credit Expert in the UK (Actually Experian) offer a free trial which you may want to look at. You can download your credit score and see whether there are any obvious issues with it. Go to http://www.creditexpert.co.uk/ Hope this helps you out

Edward

It is worth also checking Equifax and Callcredit.

These companies also offer Identity Theft Alerts, which will email you with any changes to your credit report, for example if an application is made and a footprint (search) is left on your credit file. If this was not you making the application, it is likely to be fraud, Experian for example has teams that can help you with this (first port of call is always the lender in question however).

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