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Get paid £7 to check your credit report for free
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IMPORTANT UPDATE: The cashback available dropped from £7 to just 50p on Friday 23 Jan, making this loophole much less lucrative. I hope you managed to do it at the higher amount if you wanted to!
What’s the deal?
It's possible to get paid to get your credit reference pile from Experian, one of the three big credit rating agencies. The reason's simple, it wasnt you to sign up for its £80+ a year service, and thus offers a free month's trial.
So sign up, check your file, then cancel. Better still, sign up via a special cashback website, and it'll give you a cut of the promotional budget Experian gives it, so you actually make £7.
Important: Experian is one of three agencies, to do a thorough check do at least the other main one, Equifax. You'll find a loophole on how to do that for free in the Credit Rating article. Plus don't worry, doing a credit check will not affect your credit rating at all.
How does it work?
Two cashback sites, Quidco and Topcashback, will pay you £7 when you sign up to CreditExpert's free trial via them, although Quidco charges a yearly £5 admin fee to cover its costs, so if you aren't already a member, Topcashback wins.
Cashback sites get paid by the retailers if you click through them, but importantly, they then give some or all of this cash to you, provided you've registered with them. For a full explanation read the details in the Top Cashback Sites guide.
It's important to understand, the cashback isn't 100% guaranteed, as the cashback provider is reliant on the retailer paying it, but similar incarnations of this deal in the past have been fine (and you're not laying anything out anyway).
What to do to get the cash.
It's a simple process...
Go to a cashback site and find CreditExpert. Just go to Quidco or Topcashback and then search for it. If you're not already registered with these sites, do that first.
Sign up for the free trial. Sign up on the Experian Credit Expert site, enter your card details (it won't be charged)
View your file online. Once signed up you can view your file at no cost (either instantly or after they've sent a passcode).
Cancel the subscription. To avoid any cost and make the £7, cancel within 30 days of opening it, by calling 0800 656 9000. You can do this straight away; if you don't, then diarise it to avoid being charged for the next month.
Wait for the cashback. The £7 should appear on your cashback account within a couple of days.
How to improve your credit score.
This note is purely about how to get the free credit file. To see the impact, understand what it means, and go through tips on how to improve it, read the full Credit Scoring guide.
Two cashback sites will pay you when you sign up to CreditExpert's free trial Quidco pays £7 and Topcashback £6.50, although Quidco charges a yearly £5 admin fee to cover its costs, so if you aren't already a member, Topcashback wins.
Both say £7?
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I may be wrong, but everytime someone does a credit check on you your credit score goes down. So beware, by doing this for a CashBack you are reducing your credit score .. and thats not good.
I may be wrong, but everytime someone does a credit check on you your credit score goes down. So beware, by doing this for a CashBack you are reducing your credit score .. and thats not good.
This is a common misunderstanding. WHen you apply for a product and the lender does a credit check that usually registers as a search and has an impact on your score. Yet when you view your own files, it has no impact whatsoever. This is all explained in the credit rating guide.
Martin
Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
For the pin to sign in it says it will be sent by post and will be up to 5 days(credit expert). Just thought i'd mention it for those who want to nose at credit report before cancelling .So make a note of phone number to cancel.
I have gone for the Equifax one but cant find a way to cancel it! Starting to worry a bit - has anyone else come across this? Should I just ring them?
Thanks
Here is a freephone number to avoid a peak time 0870 number call.
0800 7839421
U need the report reference number to hand, they ask you why u want to cancel, I said that whilst I found the free trial useful, I didnt believe their was any further benefit to be had.
Last edited by bristolleedsfan; 21-01-2009 at 2:33 PM..
The Following 3 Users Say Thank You to bristolleedsfan For This Useful Post:Show me >>
I signed up in October but didnt have a card to validate the account. I have been trying to sign up via the website, this time with a card. I spoke to Experian CS and they voided the account setup in October, they instructed me to re-apply so this is what I have done, only to go through the whole application procedure to be told you already have an account please login using your username and password. W
What can I do to get the cashback and my free report without having to manually give details over the phone????
I went through Topcashback and completed the Experian form, but at the end it told me they were "unable to confirm your identity based upon the information available to us".
I now have to send a copy of my passport and a bank statement in order for this free trial to go through.
How will this effect my Topcashback rewards? If I send Experian the necessary documents will I still be elligable for the £7 from Topcashback once Experian activates my free trial, or will Topcashback get bypassed now I have to activate my free trial this way. Is it even worth sending them my details now??
EQuifax costs more via £69.99 route suggested by Martin
When you visit the Equifax site via Topcashback the £69.99 product has a * next to it saying you have to subscribe for at least 3 months.This is the 1 Martin reccomends; but the Monthly £7.50 product dosnt have a *.Isnt it the case that for £7.50 one you can cancel within 30 days an not have to subscribe for 3 months! !
This is from Martins "Credit Rating Guide"
Details: Credit Watch Gold* has two options, one at £7.50 a month, but the one you need to choose is the ‘Free for 30 days and then £69.99 for the year'. When you sign up a payment card will need to be authorised but the £1 fee is not actually charged to your card if you cancel in time.
When you visit the Equifax site via Topcashback the £69.99 product has a * next to it saying you have to subscribe for at least 3 months.This is the 1 Martin reccomends; but the Monthly £7.50 product dosnt have a *.Isnt it the case that for £7.50 one you can cancel within 30 days an not have to subscribe for 3 months! !
This is from Martins "Credit Rating Guide"
Details: Credit Watch Gold* has two options, one at £7.50 a month, but the one you need to choose is the ‘Free for 30 days and then £69.99 for the year'. When you sign up a payment card will need to be authorised but the £1 fee is not actually charged to your card if you cancel in time.
I have just tried this and got a message on screen telling me I was already a member and to use the member login. I remember trying to get a free report some time ago, but it did not work, so I ended up buying the statutory one. Can't find my login details for it either - not even sure I am properly set up. Do I need to be worried as I did put in my card details?
Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps. Take care over copyright. Use excerpts and links rather than copying long text. This site asserts copyright on all comments posted on the board.
Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.
Get paid £7 to check your credit report for free
how to cancel
0800 7839421 
Signup now for your FREE credit report and receive an exclusive £7 cashback!
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