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
Digg | 
del.icio.us | 
StumbleUpon | 
Reddit | 
Yahoo! | 
My favourites
Latest Loan Articles
Council Tax Bills In England Set To Rise By 3.9%
Council tax bills are expected to rise by an average of 3.9% in April. Costs of policing and employing more Community Support Officers have risen sharply thus affecting the decision to raise the tax. Local Government Minister says there is no excuse for this tax increase because councils could be saving as much as £1.5bn by simply cutting waste and reinvesting in local services... Read More
February 29, 2008
Will Personal Insolvencies Rise As Spending Surpasses Average Income?
Now that the credit crunch is firmly affecting the UK, personal insolvencies are expected to rise in 2008. Consumers prior to the last quarter of 2007 were able to access credit cards, loans, and mortgage products almost irrespective of their credit history. Living costs and expenditures on non-essential items are outweighing average earnings leaving many UK homeowners unable to make repayments and relying dangerously on credit cards bail them out... Read More
February 5, 2008
PPI Profits Sustain Personal Loan Market
Payment Protection Insurance offers huge profits for lenders who sell this product. PPI is a type of protection for the mortgage, loan, or credit card borrower in the event they become unemployed or for some reason cannot make their repayments. However, PPI is expensive and limited in its cover whilst many buyers often are unable to claim on it. The FSA is levying heavy fines to firms that mis-sell Payment Protection Insurance... Read More
February 1, 2008
More People Live In Fear Of Bankruptcy Or Repossession
Recent reports by experts and analysts reveal a real 'frenzy of fear' amongst many UK consumers. Due to the current credit crisis, rising mortgage costs, increasing inflation, and rising utility bills, homeowners and consumers alike are finding it difficult to manage. Home repossessions and bankruptcies are expected to rise this year and some say the 'fear' could be a good thing for consumers to tighten their spending... Read More
January 31, 2008
Northern Rock Looks Set To Be Nationalised
The threat of nationalising Northern Rock has shareholders worried. Investors were warned last week they could lose their invested money if the bank is sold. David Cameron is criticizing ministers for the takeover, saying the nationalisation of Northern Rock would be a final blow to Gordon Brown's economic credibility. ... Read More
January 16, 2008
Refer a Friend
Why not tell a friend about Money Outlet? Click here
