FREE CREDIT REPORT ONLINE

• Your full name, current address and date of birth
• Previous addresses
• Details of credit searches made by lenders
• Existing borrowing
• Whether you have made payments and if they were made on time

Every time you apply for some form of credit the lending company concerned will consult a credit reference agency who hold details about you. The reference agency (eg. Experian or Equifax) will log this request as a credit search on your file.

The company will use the data provided by the reference agency to decide whether or not to grant you credit. If they do grant you credit they may also then provide information about how you conduct your account with them to the reference agency.

Over a period of time your credit file will grow and contain information such as whether you have made all of your payments, have they been made on time etc.

Although a credit report plays a part in whether you will obtain credit or not it is not necessarily a deciding factor - one company might lend and another might turn you down based on the same credit report. Each lender has their own lending criteria and makes its decision accordingly.

They use the information contained within the credit report together with information supplied on the application form to come up with a credit score. Depending on how well you score they will make a decision regarding if and how much they will be prepared to lend you. The better your credit score the more they will lend.

If you have been declined for credit it may be that there is something adverse on your credit report. Sometimes mistakes are made and errors can be corrected if you contact the company concerned.

Obtain your free credit report online

Experian are one of the largest credit reference agencies in the UK and they offer you the chance to see your credit report online for free.