Bad Credit? Introduction To Credit Reports & Obtaining Them!
An Introduction To Your Credit Report:
When a company does a credit check on any individual in the UK to decide whether to approve them for a particular credit product or service, they will check the persons credit file with at least one of the main 3 credit reference agencies in the UK which all hold personal financial information about each individual that directly affects their credit score and worthiness. In summary, each individual’s credit file records details of each credit account registered by their creditors (E.g. a credit card account) with outstanding balances, any late payments or defaults Etc. This information is stored each month on a time-line and is kept for a period of 6 years. Much more information is also stored including any CCJs registered (County Court Judgements), any bankruptcy recorded, all credit searches, addresses registered by the person and more, also for a period of 6 years. If you live in the UK and have been recently refused credit, it’s a very good idea to get a copy of your credit files to discover exactly why. It’s surprisingly quite common for mistakes to be made, so if you believe any information is incorrect, you can request that it’s corrected by writing to the credit reference agency concerned or failing this you can still file a notice of correction against any suspect entry which can still help your credit score significantly. Remember that it’s your legal right to dispute information on your credit file and to have errors corrected within 28 days.
How To Obtain Your Credit Report(s):
It costs just £2 to receive a statutory credit report from each of the 3 main credit reference agencies in the UK (a total of £6 for all), although they all offer much more advanced paid services to monitor your credit report on-line.
ON TEST: I will be ordering my £2 credit report from all 3 major credit reference agencies and I will be writing about my experiences good or bad – please see the comments below this article.
The 3 main credit reference agencies in the UK are Equifax PLC, Experian Ltd and Call Credit Plc and you can obtain full address details with instructions as to requesting your £2 statutory credit reports by clicking here, or alternatively please click on the individual links below:
Your 3 Main Statutory £2 Credit Reports:
1) Cllick here to obtain an Equifax £2 credit report.
2) Click here to obtain an Experian £2 credit report.
3) Click here to download a PDF form to obtain a Call Credit £2 credit report.
Free Credit Reports? They’re Free Trials:
There are many apparently free credit reports offered on-line including from the main credit reference agencies as detailed above, please note that they’re actually free trials and if you don’t follow their terms and conditions exactly by cancelling within the free trial period specified, you will be automatically billed to your credit or debit card which you have to give in advance. Once billed, you could in some circumstances find yourselves bound to a minimum term of service, E.g. 90 days. To cancel within the trial period you might have to for instance phone a number during office hours with your reference number at your expense where it’s likely you will be made to feel awkward by a sale person trying to get you to reconsider your cancellation decision.
Still Being Chased For Debts Over 6 Years Old?
Debts that are over 6 years old are statute barred, see Chased for old debts in England? Get them written off easily! to get them written off quickly and MOST CERTAINLY DON’T ACKNOWLEDGE THEM no matter what.
A common problem with a credit file is for a debt recovery agency to wrongfully chase a statute barred debt and then put a fresh adverse record or default on the person’s credit file even though the debt is over 6 years old and not enforceable. This conduct is simply not allowed by The Office of Fair Trading and if such information is found on your credit file you should dispute it immediately.
Legal Disclaimer:
I’m certainly NOT a trained debt advisor and I therefore strongly advise you contact a professional trained debt advisor for help if you have any problem with debts. The information in this article is supplied as is, we don’t guarantee it’s correctness and we therefore don’t accept responsibility for any mistakes made no mater what circumstances are involved. If you choose to take the advice of any of my articles, you do so entirely at your own risk and we don’t accept any liability as a consequence of following this unqualified advice. The information given is aimed at residents living in England in the UK, the law varies in Scotland and other parts of the UK. My full legal disclaimer applies to this articles and all other articles on this website.
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Comments:
Comment from admin
Time January 26, 2010 at 1:05 pm 
Further to the comment above, I tried calling the 0844 number Equifax insisted at 5p a minute. There’s loads of menus and there’s was none specific to putting the reference in as described above, then I was put in a queue at 5p a minute. I eventually got through to an operator when I complained and the she said it was because they needed to ask extra questions to verify my identity as I failed the standard security check even though all the on-line forms were filled in precisely. Even though I’ve noticed £1 has gone from my card already, the operator insisted on taking the full £2 payment where I had to provide my card details again. I suspect the £1 payment was to verify my identity, but nothing was mentioned about this which is out of line too. I’ve just checked my bank account and they’ve just taken £3 instead of £2 for the recent transaction which is probably because of another £1 verification which I should get back eventually, but again it’s taken without clearing it with myself first. I will be asking for my 5p a minute phone call back at around 12 minutes at 60p and I will be complaining about the extra money also taken. So far I’ve literally paid £4.60 for to see my clearly advertised £2 credit report “instantly” when it’s certainly not instant in my case either. Incidentally, my credit file is virtually bare, meaning my credit score will be rather low, although not rock bottom as there’s no CCjs, debts, late payments, bankruptcy or defaults registered. I will also need to obtain my credit report from the other 2 credit reference agencies to get a fully conclusive report, I hope I have better experiences with them.
Comment from admin
Time January 27, 2010 at 3:54 am
EXPERIAN – Experiences Acquiring My £2 Credit Report + Details of their Premium Service
Experian allow you to apply your £2 statutory credit report on-line, but they insist on sending a paper copy via snail mail within the mandatory 7 days which is much slower than the full on-line method with Experian. You can also write to them, preferably using a printout of their on-line form to obtain your paper report.
I have completed the painless application process for my £2 statutory credit report and I’m now waiting for my paper copy through the post. It’s rather disappointing that you have no option but to wait for a snail mail report instead of viewing it quickly on-line, but at least there’s never any hidden costs like being forced to call a 5p a minute phone number like sometimes with Equifax. The only other way to get a much quicker credit report using Experian is by signing up for a free 30 day premium service trial where your report should be available on the same day, but please remember that you must cancel before the 30 day trial is up or your credit or debit card will be charged automatically at £6.99 a month until you do cancel. The ongoing paid service is very similar to the other 2 credit reference agencies, but I suppose this fee isn’t unreasonable considering you get a constant run down of your credit report in an easy to understand front end layout explaining your credit score with numerous other extra features including monitoring and fraud alerts, I have to say that I’m tempted by this service myself (in fact I’ve now signed up – please also see my short review below). The only downside to the premium service apart from the obvious cost is it’s only ever a credit report from 1 credit reference agency which isn’t completely conclusive although Experian is the leading agency. You must also read the small print on their Terms and Conditions as cancellation can only be achieved by telephoning their customer services which could be potentially awkward and not free. I will update when I receive my report through the post…
Experian’s Premium Paid Credit Report Service (Credit Expert) on Test:
I have just signed up to Experian’s 30 day trial of the premium service which is named Credit Expert as described above.
Firstly I received confirmation in writing that my credit card wouldn’t be charged when I didn’t go ahead ordering before, yet it certainly appears that my card has been charged something which is surely illegal! Also they’re charging an optional extra £5.95 for the system to display my credit score when nothing was mentioned about this being an extra charge before I signed up, hence it’s a hidden and unfair charge.
I’m pleased to say that my credit report is available instantly and it’s very detailed, laid out in a very easy to understand manner. I’m disappointed by the £5.95 hidden charge to see my credit score, but I suppose I can live with this. My file includes only 1 entry and is clean from any problems although having almost no credit history gives me quite a low credit score. The only minor concern is various credit searches my companies that I haven’t given authorisation which is illegal, I will certainly be looking into this. Incidentally, this entry detailing my main bank account wasn’t seen with Equifax, proving that 1 credit reference agencies report isn’t conclusive, you need all 3.
I intend to cancel within the 30 day trial and I will see if this is easy. I will also find out why my card has been billed as this isn’t right, especially when I’ve received written confirmation that it certainly won’t be charged. I will be adding to this review here shortly as I find out more…
(UPDATE: I HAVE NOW ADDED A COMMENT NEXT BUT ONE BELOW TITLED, “THE CREDIT EXPERT FROM EXPERIAN – A QUICK REVIEW” FOR MORE DETAILS…)
Comment from admin
Time January 27, 2010 at 3:55 am
CALL CREDIT – Experiences Acquiring My £2 Credit Report + Details of their Premium Service
Unfortunately to obtain a statutory £2 credit report from Call Credit, you have no other option but to use snail mail entirely. You can print off a form and sent it to them, please click here for the form. Like the other 2 credit reference agencies, they have to supply your report within 7 days of receipt. I will be printing the form out and sending it within the next few days, watch this space for any updates.
Call Credit also offer a paid premium service which is similar to Experian and Equifax, but it’s more difficult to cancel. It’s also advertised that you get 3 months free and are billed quarterly at £12 a quarter, NOT monthly, although you miss out on the trial unless you include the offer code with your application. WARNING: the problem is this offer code is no-where to be seen and some people are furious that they’ve been charged the £12 immediately which is in my opinion not acceptable. You must really read the small print as to cancel you need to put your request in writing and you must allow 7 days before the billing date is due, many people might be caught out by this. Your credit or debit card will be charged automatically on a quarterly basis until you do cancel in writing. The service appears reasonable with a nice front end explaining your credit score along with numerous other features like monitoring and it works out cheaper than Equifax and Experian at only £4 a month (charged quarterly), but please note that Call Credit is what I believe the smallest of the 3 major credit reference agencies which will make this information alone inconclusive.
Comment from admin
Time February 24, 2010 at 4:34 am
The Credit Expert from Experian – A Quick Review:
I’ve used the free trial to the paid service named the Credit Expert from Experian and it’s been an excellent service, although I’ve decided to cancel it within the 30 day free trial period by phoning their free phone number on 0800 656 9000 without any problems what-so-ever. I only cancelled because personally I don’t really need to keep a close eye on my credit report now I’ve studied it in detail. I feel a little guilty cancelling since I’ve received such a great service for absolutely nothing, but in return I’m recommending the system here as they deserve it.
Even though I’ve cancelled the free trial and I won’t be charged a penny, my credit report was still available for the remainder of the 30 days trial and I can still renew the service at any time in future if I choose to. Please remember however that if you forget to cancel your 30 day free trial before it ends, you will be charged your first payment at £6.95 and then every month after that, unless you’ve decided to pay annually when you’ll be charged for the whole year instead.
My first credit report was available almost instantly after signing up which was a very impressive start. The detailed, but easy to read credit report itself was very well laid out and carefully explained with plenty of extra informative information throughout, plus it was updated virtually on a daily basis. The system even informs you if there’s been any significant changes you should know about and you can be optionally alerted by email or SMS message which is included in the cost. Another very good reason to be alerted is to be informed about any future fraud alerts on your credit file, so you can deal with them urgently, also if there’s any mistakes made that adversely effect your ability to obtain credit, the system helps you follow the right procedures to get them corrected as quickly and easily as possible. My only concern was it’s only 1 credit report from the 3 main credit reference agencies, although most companies do record any credit and searches with Experian, some credit scoring information might possibly be missing. The only slight annoyance was on occasions when my latest report wasn’t available to view because it was currently updating, but I could still view my previous report which was only a day or so old.
Their free phone customer service is extremely good and they even sorted out a personally query very quickly over the phone. I was wondering why a particular credit record had suddenly disappeared from my file, the helpful member of staff spotted the problem immediately because my address was written slightly differently on their records and it was corrected instantly, I was extremely impressed by how well trained and professional the staff are at Experian and they always want to help in any way possible. You always get to talk to a really polite and very helpful member of staff, not an automated system and from my experience, they answer the phone relatively quickly too with only a very short queue. I have to say that I was very impressed and they were even very pleasant when I cancelled my free trial, making me feel even more guilty for doing it. I feel like I’ve sinned by cancelling and will probably resign up in future as they deserve it.
If you need to keep a close eye on your credit report or just want peace of mind, then I thoroughly recommend this service at £6.95 a month. My only slight disappointment was that you have to pay extra to obtain an actual credit score based on your report at another £5.95 which I suspect many people would expect to be included, although your credit score can be worked out roughly yourself based on what your report holds. On request the system can still instantly match various credit services including credit cards that you’re likely to be accepted for based on you’re current credit status and this is included in the original cost without paying for the additional credit score.
For more information, please visit: https://www.creditexpert.co.uk
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Comment from admin
Time January 26, 2010 at 5:47 am
EQUIFAX – Experiences Acquiring My £2 Credit Report + Details of their Premium Service
Equifax allow you to obtain your £2 statutory credit report on-line with the option either receiving a paper copy via snail mail or displaying it on-line which is much quicker. You can also write to them to obtain a paper copy which they must send within 7 days. Like the other 2 main credit reference agencies.
Equifax also offer a paid premium service with a free 30 day trial, but remember that you must cancel your trial before it expires or your credit or debit card will be charged £6.99 a month automatically until you do cancel. You must read the small print as the only way to cancel is over the telephone which could be awkward and it’s not free to call. The premium service includes a nice front end layout of your credit file with numerous features including your credit score, it’s looks like a good service although the report isn’t conclusive from 1 credit reference agency.
Equifax’s instant £2 on-line credit report is NOT always instant & there’s sometimes a small hidden cost!
I paid for my Equifax credit report which promised it instantly on-line for £2, but after ordering I’ve been given the following message (I’ve replaced my reference with xxxxxxxxx):
“We have your information and you’re nearly finished in setting up your service. All we need now is to ask you some final questions. Call us on 0844 335 0550 (Calls will be charged at 5p per min) to complete your purchase today!
Please quote the following reference number: xxxxxxxxx
Our office hours are between 9am to 5pm, Monday to Friday.”
Well it’s all very well, but I ordered my so called instant credit check at night and I’ve now unexpectedly got to wait until office hours to progress my order, plus I’ve got to pay 5p a minute which is in my opinion out of order as it’s NOT costing me £2 as clearly advertised, it’s £2 + (5p x No of Minutes). They’re also going out of their way to use an 0844 number that specifically isn’t included in anyone’s free minutes, plus I suspect they’re receiving a cut out of these calls. I expected better from one of the UK’s main credit reference agencies. I will be writing to them demanding a refund of the unexpected paid phone call cost they’re insisting on that wasn’t specified in the cost until AFTER ordering. Okay, it’s probably only going to cost pence for the phone call, but it’s really not the point, they should charge £2 and it should be £2, plus the credit report should be displayed “instantly” as clearly advertised and promised, not after one makes a costly phone call on Monday to Friday during office hours.
Please click here to visit Equifax for full details how to obtain your £2 credit report either on-line or in writing.
(Disclaimer addition: This comment and any other comments or articles are without prejudice to Equifax, Experian, Call Credit or any other organisation. They also include personal opinions that cannot be declared as definite fact.)