Been turned down for credit and don’t understand why? Unsure how to access your credit report? This section is designed to address some of the questions we get asked on a regular basis. Click on the link underneath each question to discover more.
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.
If you’ve been turned down for credit, you can ask the lender the reasons behind their decision. Different lenders use different credit scoring systems and policy rules, so if one lender turns you down, it doesn't mean they all will.
TransUnion can show you the information we hold (what lenders access when running a search on you), but only the lender can give you a definite reason for declining you.
Lenders may use a combination of the following to help them make their decision:
No. If a company makes a search, a record shows on your report, but it won’t show whether your application was accepted or rejected.
When someone leaves a property, their financial details stay attached to them rather than the address. Someone else can affect your chances of getting credit — but only if you have a financial association with them like a joint bank account or joint mortgage, not because you lived at the same address.
Here are some simple things you can do to improve your credit report:
No. Credit reference agencies don't hold blacklists relating to people or properties. We only provide lenders with factual information about individuals at the addresses they’ve lived at.
If you think your credit report contains inaccurate information, you should contact the lender first. If they agree the information is inaccurate, they can make the necessary amendment or ask us to update your file.
Keep in mind, account balances are updated every 4–6 weeks. If the balance shown doesn't reflect the actual balance, there's no need to contact the lender unless you believe the balance is more than 4–6 weeks out of date.
If you prefer, you can contact us about any inaccuracies. We’ll pass this on to the relevant lender on your behalf and respond to you within 28 days.
If you think there is incorrect information on your statutory credit report, we’d suggest you check the latest version. You can do this free, online, at transunionstatreport.co.uk. If you see information on there that isn’t right, contact us and we’ll look into it for you. You’ll need to quote your credit file reference number and provide an explanation of why you believe the information is incorrect. Enclose any supporting evidence (such as letters or statements from the lender involved). Send your letter to:
Consumer Services Team
PO Box 491