credit score and credit report

What is a Credit Score & Credit Report?

Andrew Bowen
Author: Andrew Bowen
Andrew is the CEO of UK finance comparison site PocketRate.com and the Co-Founder & former Director of Hastings Direct, a UK based FTSE 250 insurance company.

When you apply for credit such as a credit card, mortgage or loan, the lender will usually access your credit report from various credit reference agencies in order to help them make a decision about whether or not they will give you credit.

A credit report is an analysis of your past credit history. This information includes the type of credit you have previously applied for from various lenders, the amount of credit and an analysis of your repayment record. All of this information is factored into what your current credit rating or credit score is.

 

Where does the credit report information come from?

The data in a credit report is compiled from various sources including:

  • Lenders you have previously had dealings with such as banks and credit card companies
  • Financial information from utility providers such as gas or electricity and mobile phone contracts
  • Public records such as local authority electoral roll information on County Court Judgements (CCJs) and bankruptcies

What information is included in a credit report?

A credit report will contain a lot of useful information for lenders including:

  • Your full name and any aliases you have had
  • Your current and previous address history from the electoral roll
  • Credit agreements you have applied for in the past
  • Financial associates such as a joint mortgage
  • Your repayment history
  • Information on County Court Judgements or insolvency issues

COMPARE CREDIT REPORT PROVIDERS

Why should I access my credit report?

Getting access to your credit report may help you understand your credit situation when applying for credit or getting a mortgage. It may help you identify issues with your credit history that is preventing you from obtaining credit or it may highlight some inaccuracies that you need to get corrected.

Credit Score

How do I access my credit report?

You can order your Statutory Credit Report for £2 that can be sent to you in the post.

A number of companies offer online access to your credit report plus a number of additional benefits. Most companies will offer you a free trial period followed by a monthly fee if you choose to continue with the service.

Compare credit report providers with PocketRate

Use our Credit Report Provider Comparison table to compare the features, benefits, cost and trial periods across a number of leading providers.

CompanyFeaturesTrial PeriodSubscription Per Month
Experian

  • *FREE VERSION - Unlimited credit score access

  • Access to full credit score and report

  • Personalised tips on improving your score

  • Web alerts if we find your personal details online

  • Dedicated specialist fraud victim help

  • UK based call centre team

  • Alerts to potential fraud activity

30 Days£14.99More...
CreditReport.co.uk

  • View credit history as reported by over 200 lenders

  • Expert assistance from professional credit analysis

  • See what lenders see

  • FREE identity theft restoration service

30 Days£12.99More...
Credit Angel

  • Credit report and credit score

  • Alerts and identity protection

  • Social report and score

  • Tailored loans and credit cards

30 Days£14.99More...
Equifax

  • Unlimited access to credit report and score

  • Easy to understand, no jargon

  • Regular alerts and potential fraud warnings

  • Learn what lenders look for

30 Days£7.95More...
UK Credit Ratings

  • See credit report and score

  • Check your social media image

  • Dispute mistakes and let us investigate

14 Days£19.95More...
CheckMyFile

  • See your data from 4 credit reference agencies

  • checkmyfile credit score

  • FREE identity fraud assistance

  • Easy to cancel - freephone or online

  • Guarantee never to sell your personal data

30 Days£14.99More...