credit score - few questions

georgia_c

just wondering if its worth having more than one credit rating account? currently with Experian but I have been recommending check my file. Should I have both? Do they all show the same info? which is the one most companies use for credit checks?

Can anyone help?

[Deleted User]

georgia_c wrote: »

just wondering if its worth having more than one credit rating account? currently with Experian but I have been recommending check my file. Should I have both? Do they all show the same info? which is the one most companies use for credit checks?

Can anyone help?

In order of usage by clients (UK), they are:


Experian
Equifax
Transunion
Crediva


They don't all hold the same information about you. Some organisations report you to just one, or two, of these companies, others - especially banks - report you to all of them.


Should you use more than one? Personally I use none, but that's just me.


I meant to add - CheckMyFile and a few others just front the databases of the CRAs. I'm not sure, but I think CheckMyFile provide a single front-end to all four credit reference agencies.

[Deleted User]

You have potentially thousands of credit ratings. One is produced by a lender for each different product.

You won't see any of these ratings, but you can check the data that appears on each of your three credit files. Make sure everything is accurate and up to date.

Lenders will use or or more of the three CRAs in making their decisions so check them all.

jimbo26

May I just add, do not pay for any of these services. You can check your file for free.

Ignore terms such as credit score or credit rating, they are meaningless. All you need to do is check your file from the three CRAs and check the detail contained is accurate.

Anon

Checkmyfile pulls data from all four agencies - it is free for 30 days then £14.99 per month (free trial is worth it to find out who sees what).

I would sign up free to MSE Credit Club, ClearScore and CreditKarma or TotallyMoney. They provide you with free monthly access to reports from the three main agencies (Experian, Equifax and TransUnion).

DCFC79

Its hard to say who uses which 1 the most as a lender could decide to use all 3 and they wont give you notice of this.

georgia_c

Amazing! thank you everyone for your advice 

georgia_c

Think i will keep experian and clearscore free accounts for now, both offer quite alot of unpaid subscriptions  

PRAISETHESUN

You should regularly check your files from all 3 CRAs. As discussed above, not every lender will report to every CRA so only by checking them all will you ensure that everything is being reported accurately. You can access your files directly from Experian, Equifax or TransUnion by requesting a copy of your "statutory credit report" or alternatively you can access them through third party services such as Clearscore, MSE Credit Club or Credit Karma. Just make sure you don't pay since you can access your data for free this way. Ignore your "scores/rating" and focus on the accuracy of the account data contained within your reports!

georgia_c

Thanks alot that helped alot, I will set up all the free accounts

SlovakianGuy

Check all 3 credit reports once a month. Sometimes incorrect info may be reported on your files which may affect your ability to obtain credit or even rent a room.

As someone has already posted above, do NOT PAY for anything since you can see your reports for free.

MSE credit club - your free Experian credit report

Credit Karma - your free TransUnion credit report

ClearScore - your free Equifax credit report

Don't just check your "score".  Always go into Accounts and check Payments, amounts, limits, dates, etc., if everything is correct.