A credit report is a report compiled on every person that contains detailed information on a person’s current and historic credit.
This will include loans, mortgages, HP agreements, current accounts and credit cards, as well as some mail order accounts and mobile phone contracts. They show information such as the date the account is opened, the balance, monthly repayment where applicable, and whether repayments have been on time.
Credit reports also show records of bankruptcy, county court judgements and defaults, as well as someone’s presence on the electoral role. Recent credit enquiries and applications are visible.
Your credit report can be accessed by potential lenders, but only with the permission of the borrower. In certain circumstances, it can also be accessed by employers and landlords.
For this reason, it’s important to check your credit report to make sure it’s up to date and doesn’t contain any inaccuracies. Our partners at Check My File have a lowest price guarantee, so why not take a look now?