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Quick Guide - Credit Files

The vast majority of people over 18 yrs old in the UK have a record detailing their credit applications, commitments and repayment patterns, called a credit file. These are used by lenders to give them an idea of your financial history, credibility and current debts to inform any decision they may be taking on offering you credit. Files are compiled and held by credit reference agencies; the three most commonly used are Experian, Callcredit and Equifax. You’ll find their details at the end of this page.

The information on your credit file is assessed individually by a creditor to calculate your ‘credit score’. The score needed for different credit agreements varies and then again, may also differ between lenders offering the same product.

To arrive at a credit score, lenders typically look at credit files in conjunction with factors such as regularity of income, your bank details, home owning or renting. Different lenders use different point allocation systems for each piece of information.

How can you use your credit file?

Firstly, review your credit file to check it is accurate. If any of the information on the file is not correct, it should give you the relevant contact details to contact the various parties involved and seek corrections.

Looking at you credit file can also help you determine if you have been a victim of identity theft and if someone other than you has taken credit in your name. Contact one of the 3 main credit reference agencies as soon as possible for help. You may find information on the ‘Victim of Fraud Service’ helpful– click here to view.

Experian, Equifax and Callcredit all charge a small fee for a copy of the report. All three also have ‘free trial’ offers for online applications (subject to certain conditions). They generally need your full name, address, date of birth and full addresses covering the last years, plus some type of proof of identity and address.

Details of how to obtain your file from all 3 major agencies are at the bottom of this page. In some cases, you may find online options produce more in-depth report information than a hard copy might. In all cases, you receive your report within 7 days.

Legal Ways to Enhance Your Credit Score

It’s worth remembering that lenders never have ’credit blacklists’. As explained here, they simply refer to their individual credit scoring procedures instead. You may find the Information Commissioner’s Office leaflet, ‘Credit Explained’ useful – click here to view it. It is generally considered essential to ensure you are on the electoral register, with your correct details. You can also contact one of our expert advisors for more information on credit scoring free of charge.

Bear in mind, it is not possible to remove any information from your credit file at all. Each entry always remains there for 6 years, but sometimes it’s possible for you to add certain relevant information. For more information, contact one of our expert team for good advice on understanding your credit file.

Contacting Credit Reference Agencies

Callcredit

Online: http://www.callcreditcheck.com/

By Post: Consumer Services, Callcredit Limited, PO Box 491, LEEDS, LS3 1WZ

Equifax

Online: http://www.equifax.co.uk/

By Post: Equifax Ltd., Credit File Advice Centre, PO Box 1140, Bradford, BD1 5US

Experian Online: http://www.experian.co.uk/

By Telephone: 0844 481 8000

By Post: Consumer Help Service, Experian Limited, PO BOX 8000, Nottingham, NG80 7WF