United Kingdom — Banking: Credit History

Why this matters

A good credit history can help you secure lower interest rates on loans and credit cards, while a poor credit history can result in higher charges and reduced financial options.

Key facts

• The ICO names Equifax, Experian and TransUnion as the three main consumer credit reference agencies; MoneyHelper also lists Crediva.
• Under data protection law you can ask any agency for a copy of your file free of charge, by request or an online form; look for the words "statutory report".
• Paid monthly subscriptions exist but nobody is obliged to sign up for them.
• Each agency calculates its own credit score, so scores differ between agencies; errors can be raised with the agency for correction.
• The ICO page is older, so check current agency details.

Steps

1. Requesting a Credit Report — You can request a credit report from each agency's website, and you will need to provide identification and proof of address to confirm your identity.
2. Checking Your Credit Score — You can check your credit score for free with each agency once a year, and some agencies also offer a free trial or a free score for certain types of accounts.