Free Credit Report - What Does Yours Say?

Get Your Free Credit Report to ensure your credit record doesn't show any false entries.

Your UK credit report contains information regarding your National Credit Score which is a credit rating given on the strength of your credit history. Each time an application is made to a lender it is recorded down in your credit report as are all details of repayments, defaults and any cases where credit has been declined. Your credit score ranges between zero and 1000, the higher the score the better your credit history rates and this will reflect on the type of credit deals you are offered.

Since your UK credit report contains information which effects the outcome of whether or not you may be granted credit, it is a good idea to have regular access in order to check that the details enclosed are accurate and up-to-date. It holds information regarding your address, how you pay your bills, if you have any CCJs, have defaulted on any loans and applied or filed for bankruptcy. Nationwide consumer reporting companies can then sell this information to creditors, insurers and employers who use the information to evaluate any applications you make for credit.

It is therefore advisable to check your credit report to:

• Ensure all information is accurate and up-to-date especially before applying for credit such as a mortgage or personal loan. Any errors found in your credit report can of course be corrected. It is therefore crucial that you actually have the right to challenge such errors as an incorrect credit rating may affect the interest rates offered to you by lenders.
• Help guard against identity theft. It may be that someone has gained unrightful access to your personal details such as your name and address, credit card or bank account number and used them to illegally establish new accounts in your name. It is usually not until you receive a bank statement that you become aware of any suspicious activity. Unfortunately these debts are noted in your credit report and can great impact on your ability to get further credit. By checking your credit report you can check any incorrect entries that have been made.

To obtain a 30 day free copy of your credit report click here. Each nationwide consumer reporting company will have their own security measures which they will imply in order to check you are the person you say you are; this is purely to safeguard the information contained in the individual's credit file.

Published on September 19, 2007