This section contains useful information to guide you through your credit report and help you protect yourself from identity fraud. Click on the links below for more information about your credit report and other queries.
To get the full picture on what your credit information means and how lenders use it, we recommend the ‘Understanding your credit information and how lenders use it’ guide. Produced by the UK’s leading credit reference agencies, including TransUnion, it’s a definitive document that can help you with your credit related questions.
What is a credit report?
What information does a credit report provide?
How lenders use your credit report
How to get a statutory credit report
What is a credit report?
A credit report contains all the information held on an indvidual at their address(es) by the Credit Reference Agency. Lenders use the information it contains to decide whether to give you credit.
If you’re over 18 and have ever taken out a loan, credit card or mobile phone contract, a credit reference agency like TransUnion likely holds a copy of your credit report. It’s important to monitor your financial activity, so checking your report regularly is a good idea.
Read on to find out:
What information does a credit report provide?
Think of your credit report as a kind of financial passport that includes your financial history and credit activity.
Your credit report will provide the following information:
- Account information — This is a record of your past and current credit accounts, and whether you’ve made payments on time and in full. Being late or missing a payment will stay on your credit report for six years. The same is true for county court judgments and bankruptcies.
- Your current and previous addresses — Whether or not you’re awarded credit can be influenced by your presence on the electoral register as it provides proof of address, so make sure your current and previous addresses are correct.
- Your financial connections — Any person you’re financially connected to will appear on your credit report, such as those with whom you have a joint bank account, or taken out a loan or mortgage with. When lenders assess your credit history, they may also look at your financial associates’ credit histories, as they may affect your ability to repay money you borrow.
People with a good credit history are more likely to be given credit and offered higher credit limits and lower interest rates. A bad credit history may lead to your application being declined.
Rest assured, your credit report will never contain sensitive personal information, such as race, religion, sexuality, political beliefs or medical history.
How lenders use your credit report
Lenders refer to your credit report in a range of different situations. For example, they may refer to your credit report when you apply for:
- Mortgages
- Credit cards
- Personal loans
- Overdrafts
- Mobile phone and some utility contracts
That’s why it’s important to regularly check your credit report activity and ensure all the information on your report is accurate.
Lenders can also use your credit report to help decide what your credit limit should be, which they may review on a regular basis. For example, if there are signs that you are experiencing financial difficulties the lender may consider reducing your credit limit.
How to get a statutory credit report
You can access your statutory credit report – online or by post to make sure there’s nothing stopping you from being accepted for credit. Even if you’re not applying for credit right now, checking your credit report regularly will help to identify fraudulent activity.
What is a credit reference agency?
How many credit reference agencies are there?
Why do we have credit reference agencies?
Do credit reference agencies make lending
decisions?
What information do credit reference agencies hold?
What is a ‘footprint’?
How can you find out what information TransUnion has about
you?
What is a credit reference agency?
At some point in our lives, we’re likely to apply for credit — whether for a car loan, mortgage, mobile phone contract or new credit card. Whenever you apply for credit, the lender will approach a credit reference agency for information about your credit history. This helps them make fair and responsible decisions about whether to give credit. It also helps them protect themselves against fraudulent applications — a growing problem in the UK.
Read on to find out more about credit reference agencies and the role they play in your credit application.
How many credit reference agencies are there?
In the UK, there are three main credit reference agencies — TransUnion, Equifax and Experian. They work with building societies, banks, mobile phone companies and other major retailers to help those businesses make quick and more accurate decisions about whether the person applying for credit is likely to pay it back.
Why do we have credit reference agencies?
CRAs exist to promote responsible lending, support debt recovery and debtor tracing, as well as prevent over-commitment, bad debt, fraud and money laundering.
Before credit reference agencies, banks and other lenders were left to their own devices to filter out unsuitable borrowers. This often led them to make wrong decisions — denying reliable people credit and lending to those who could not repay.
As a result of many years of development and investment, the UK is considered to have one of the most sophisticated and efficient credit referencing systems in the world. This enables lenders to better evaluate consumer credit risk and affordability and make the right lending decisions.
Do credit reference agencies make lending decisions?
No. Credit reference agencies are independent organisations that hold consumers’ credit-related information, but the decision to grant credit rests with the lender. Also, the information held is entirely factual — with no expressed opinions.
What information do credit reference agencies hold?
Credit reference agencies hold personal information and details about your financial history.
This includes:
- Your presence on the electoral register
- Any court judgements made against you
- Any bankruptcies or insolvencies
- Your past and current credit agreements, including how much you owe and your repayment history
Each time you apply for credit and a lender searches for your credit report, the credit reference agency keeps a record. This is called a footprint. TransUnion retains these footprints for two years; Experian and Equifax generally retain them for one year.
Organisations searching your credit file won’t be able to see who has accessed your report, but credit references agencies can make this information available to you.
When an organisation searches information about you on a CRA database, because you have applied for credit for example, it gives the CRA the reason for the search.
How can you find out what information TransUnion has about you?
Checking your statutory credit report is the best way to see what information TransUnion holds about you. Even if you’re not currently applying for credit, you should do so to ensure the information is accurate.
You can do this by applying for your statutory credit report, or you can find more information about which credit report is best suited to you in our consumer help section.
Why and how to check your credit report
Statutory credit report
Why and how to check your credit report
If you’re planning to apply for credit now or in the future, it’s important to regularly check the information on your credit report is accurate. And while a lender’s decision to give you credit is not based wholly on your credit file contents, it’s a large, contributing factor.
Read on to find out how to get access to a copy of your statutory credit report.
Statutory credit report
How to improve your credit rating or score
How to improve your credit rating or score
No credit rating or score is set in stone, and while you can’t wipe your credit rating clean straight away, there are ways to improve your credit score over time. You can find out ways to manage your credit rating and score here
What affects your credit rating or score?
Your credit history
Past debts and bankruptcies
People you are financially linked to
Registering to vote
What affects your credit rating or score?
There are many factors that affect how financially attractive you are to lenders. If you want to improve you credit rating and score, learning those factors is a good place to start.
From learning how to control your financial behaviour to regularly checking the information contained on your credit report, let’s take a look at what affects your credit score and rating.
Your credit history
What affects your credit rating and score the most is your credit history.
By ensuring you maintain your payments on any credit you take you out, you can start building a good credit history. This proves to lenders you can responsibly borrow money and are able to pay it back.
Past debts and bankruptcies
Records of unpaid debts and bankruptcies stay on your credit file for a minimum of six years. This affects your credit rating because lenders consider you a higher risk if you’ve missed payments. If you’ve been unable to repay your debts once, you may be unable to repay them again.
Even forgetting to make a few repayments can land you in hot water, as lenders don’t necessarily know it simply slipped your mind. They may think you’re not reliable enough to lend money to.
People you are financially linked to
People with whom you have a financial connection can affect your credit rating as their financial circumstances could influence your ability to make repayments.
Just living with someone doesn’t create a financial connection — you need to have a joint loan, mortgage or bank account to create financial links. If you’re a guarantor for someone else’s loan, their credit rating or score will also affect yours as you’re promising to pay their debt if they’re unable to.
Make sure you regularly check your credit report to ensure all your financial associates/connections are correct.
Registering to vote
This is important as it gives the lender proof of your address. It has nothing to do with who you vote for; simply being on the electoral register can boost your chances of being accepted for credit. Visit www.yourvotematters.co.uk to register to vote today.
How often you move house
Although it isn’t something you can always control, it’s worth being aware that moving house regularly can make you appear untrustworthy to lenders. Staying at one address reflects stability, which lenders like to see.
Credit applications will normally ask you to provide your current and previous addresses for the last three years. Make sure you check the personal information recorded on your credit report regularly, as an incorrect address or inconsistency could jeopardise your application.
How to check your credit history
What to look out for in your credit history
How to change information on your credit report
How long does financial information stay on your credit report?
Who can see your credit history?
How to get a statutory credit report
How to check your credit history
If you’re applying for a loan, a credit card or even a mobile phone contract, lenders will be interested in your credit history. This will give them insight into your financial activity and whether or not you’re reliable enough to pay the money back. In order to increase your chances of being accepted for credit, it’s advisable to keep track of your credit history.
If you’re looking to find more information about your credit profile, you can check our statutory credit report for a basic credit report and to check fraudulent activity isn’t happening in your name. You have the statutory right to access your personal credit information
What to look out for in your credit history
If you access your credit report before you apply for credit, it’s important to know what to check for. Here’s a step-by-step guide for reviewing your credit history for anything that could affect your chances of getting credit:
- Check your name and address is correct
Lenders use your credit file to verify you are who you say you are. So, if the address on your credit file is not up to date, this could signify potential identity fraud.
If you’ve recently moved house or don’t know which address is on your credit report, check it. Don’t let a small administrative error stop hinder you getting credit.
- Am I on the electoral register?
What many people don’t realise is being on the electoral register can actually improve your credit rating. That’s because it provides proof of address and can help reduce the risk of identity fraud. If you’re not sure how to get on the electoral register, here are the government guidelines.
- Check your past and current credit arrangements
When you access your credit report, you can see information about your past and present credit agreements from the last six years. This includes everything from mobile phone contracts and credit cards to car loans and mortgages.
Check each item is correct, was initiated by you and your payments are up to date. If any credit or retail cards you don’t use appear on your file, closing them can improve your credit rating.
- Check your financial associates are correct
A financial associate is anyone with whom you’ve held a joint financial agreement, such as a bank account or joint mortgage. It’s important to check who your financial associates are because their credit status could affect yours. If you’re no longer financially linked with individuals, make sure they’re removed from your credit file.
How to change information on your credit report
If you’ve noticed any information on your credit report is wrong, such as your address, you should notify the lender or raise a dispute with TransUnion. If the lender has reason to believe information is incorrect, they’ll notify the relevant credit reference agency to change the information on your report. Previous addresses remain on your file in order to help identify you.
How long does financial information stay on your credit report?
This depends on what type of information it is. For instance:
- Missed payments — generally stay on your report for six years.
- Bankruptcies — stay on your credit file for at least six years.
- Court judgements — usually stay on your credit file for six years.
- Previous addresses — stay on your file forever as a way for lenders to confirm your identity.
Who can see your credit history?
Your credit history is confidential information that can only be seen by you, the credit reference agency and lenders with which you’re applying for credit. Reviewing each section of your credit report is key to understanding what your credit history means when you apply for credit.
How to get a statutory credit report
A statutory credit report allows you to make sure there’s nothing stopping you from being accepted for credit. And even if you’re not applying for credit right now, check your credit report regularly to help identify fraudulent activity.
Why getting your credit rating important
How to check your credit rating
Statutory credit report
Why getting your credit rating important
If you’re applying for a loan, credit card or even a mobile phone contract, lenders look at your credit history to decide whether you’re likely to be a reliable borrower. A good credit rating is key to increasing your chances of being accepted, as the higher your rating, the lower the risk for the lender.
If you’re planning to apply for credit now or in the future, it’s vital you keep a close eye on your credit rating. No credit rating is set in stone, but if you have a low rating, it can’t be changed overnight. That’s why it’s best to regularly check it so any improvements can be made well before you apply for credit.
How to check your credit rating
The most straightforward way to access a credit rating is through a credit report. You can get this from a credit broker such as Credit Karma.
You also have the right to access the information credit reference agencies hold about you. Each credit reference agency can provide you with a copy of the information they hold about you. You can gain access to the info TU holds about you through the statutory credit report.
Credit reference agencies hold the public and financial information lenders use to make their decisions. We have much more about what credit reference agencies do on our website.
Find out what a credit report and score or a statutory credit report can offer you.
Statutory credit report
You’re entitled by law to access this credit report. This is a basic report which doesn’t provide a credit score or credit rating but is still a good way to check your credit history and the information on your credit file.
- Apply online — Access your statutory credit report online to see all the basic facts
in black and white.
- Apply by post — If you’d prefer to apply by post, please download and print the
application form.
Electoral register - Why register?
How to get on the electoral roll?
Electoral register - Why register?
There are many factors that affect your credit rating — from your credit history to your financial associates. But did you know something as simple as whether you’re on the electoral register could be standing in the way of you getting a loan?
It’s true. Registering to vote can really improve your chances of being accepted for loans, credit cards and even mortgages.
How to get on the electoral register
Many people assume you’re automatically registered to vote — they’re wrong. It’s the individual’s responsibility to ensure they’re on the electoral register. Registering to vote isn’t a complicated and time-consuming process. If you're wondering how to get on the electoral register, these days you can even do it online:
- Visit the electoral registration website
- Complete your current address, previous address and personal details on the form
- Save and print the form
- Sign it (to protect yourself from identity theft)
- Post it to your local electoral registration office
It’s as easy as that, and even if you don’t exercise your right to vote, you’ll have given yourself a better chance to successfully apply for credit.
Understanding different fraud threats
Preventing identity fraud
If I'm a victim of identity theft, what should I do?
How can I tell if I’m a victim of identity theft or fraud?
Understanding different fraud threats
- Identity fraud is the criminal use of a stolen identity to obtain goods or services by deception. This usually involves the use of stolen or forged identity documents, such as a passport or driving licence.
- Identity theft is the misuse of the identity (such as name, date of birth, current address or previous addresses) of another person, without their knowledge or consent. These identity details are then used to obtain goods and services in that person’s name.
Preventing identity fraud
Identity fraud is a problem that can affect anyone. However, simple precautions can help you protect yourself. Follow these tips to help ensure you don’t become a victim of identity theft.
- Register to vote — This not only helps improve your credit profile, it helps stop identity fraud.
Lenders will use the address details you provide to check your identity, and being on the electoral register provides evidence you’re living at the address you provided. A credit application which has a different address to the one on the electoral register may indicate it’s fraudulent.
- Be safe on social networking — The danger of social networking is giving away far too much personal information, leaving ourselves vulnerable to identity theft. Criminals can use even the most basic information to steal your identity, so be careful what you share publicly online.
Keep your full name, date of birth and address off your social media accounts and don’t share anything you use as a password, such as your dog’s name or wedding anniversary. Additionally, don’t share information, such as being on holiday or where your mail is left when you’re out.
- Report missing or stolen documents — It goes without saying you should report any missing or stolen documents as soon as possible. If these documents fall into the wrong hands, you could become a victim of ID theft, so make sure you notify the relevant organisations as soon as you realise your documents are missing. That way if a criminal spends any money in your name, there’ll be a record it wasn’t you.
- Shred documents containing personal information — Don’t give thieves a helping hand by leaving personal information lying around. Shred or destroy any documents containing personal information. This means financial statements but also less obvious documents like catalogues containing your name, address and account number. This includes never writing down your PIN or password, as this could easily fall into the wrong hands.
- Check for suspicious transactions — One of the best methods of identity theft protection is to regularly check your credit report for suspicious activity. You should also check your bank and credit card statements to ensure all transactions were made by you.
- Check your credit report regularly — You should regularly check your credit report to look out for anything unusual. This could be a sign your identity has been stolen and is being used to apply for credit.
For an administration fee of £20.00, Cifas — the UK's fraud prevention service — can place a 'Protective Registration' warning on your credit file. This will tell lenders you think your personal information is at risk of being used fraudulently. When they receive an application with your details, they'll make more checks to ensure the person applying is you and not a fraudster. It may mean that any applications you make are delayed while there's further verification of your I.D. — but it's better to be safe than sorry.
If I'm a victim of identity theft, what should I do?
You should contact your lenders immediately if you suspect you're a victim of identity theft. They can stop further spending and start a fraud investigation. When they confirm the fraud, they'll ask TransUnion to remove the details related to this from your file. In this way, the activities of the fraudster won’t affect the likelihood of you getting credit in the future.
How can I tell if I’m a victim of identity theft or fraud?
Anyone can fall victim to identity theft or fraud. Some warning signs that suggest you might be a victim and a fraudster is using your details to obtain goods or services in your name include:
- Your bank or credit card statements don’t arrive, or you notice some of your mail appears to be missing
- Your statements include charges for items you didn’t purchase or order
- A debt collection agency contacts you about money owed on goods you didn’t order or on an account you didn’t open
- You receive a letter or phone call telling you you’ve been accepted or declined for accounts you never applied for
Checking your credit report regularly will also help you to spot any unusual activity.
I’ve been a victim of identity fraud recently and informed the creditors, but can additional security checks be put in place to make it harder so it doesn’t happen again?
You can place a 'Protective Registration' warning on your credit file. This tells lenders you think your personal information is at risk of being used fraudulently. You can find out more about CIFAS and the services they offer at www.cifas.org.uk.
What is a county court judgment (CCJ)?
How long will a CCJ stay on my credit file?
How do CCJs affect your credit rating?
There’s a CCJ on my credit file that I was unaware of…
What is a County Court Judgment (CCJ)?
A county court judgment (CCJ) is a type of court order in England, Wales and Northern Ireland that may be registered against you if you fail to repay money you owe.
How long will a CCJ stay on my credit file?
Unless you repay the full amount of the CCJ within one month, it stays on your credit file for six years. Over this time, your attempts to get a credit card, a mortgage or even a bank account can be seriously hindered.
How do CCJs affect your credit rating?
CCredit reference agencies keep a record of any county court judgments (CCJs) issued against you and will display it on your credit file for potential lenders to see.
When you apply for a new loan, mortgage or even a mobile phone contract, lenders use the information on your credit file to assess whether you’re ‘creditworthy’ or how likely you are to repay money you’re borrowing.
If you repay the full amount within a month of receiving your CCJ, the judgment will be removed from the register and no record of it remains on your credit file. This means it won’t affect your credit rating at all.
However, if you take longer than a month to repay the amount, a record of this court claim will stay on your file for six years. And even though it will say you’ve paid, people searching for your credit history will still see a CCJ against your name.
There’s a CCJ on my credit file that I was unaware of…
In most cases, you’ll be told about your CCJ as soon as it is issued against you. However, if your court papers are sent to the wrong address, you may not be aware of it. So, if you’re having trouble getting credit and you’ve missed repayments in the past, check your credit report to make sure you haven’t got any CCJs on your file.
If you’re looking to find more information about your credit profile, apply for our statutory credit report for a basic credit report and to check fraudulent activity is not happening in your name. You have the statutory right to access your personal credit information.
Get more information on how to check your credit report.
