Do you regularly check your credit report? Why?


In one of our recent weekly emails, we learned how more than a third of respondents to an MSE poll have not checked their credit score in the last decade.
As Martin often says: "There's no such thing as a credit score in the UK - no one single number that dictates whether a lender will accept you. Each lender scores you differently based on its own wish list of what is a profitable customer." In fact, Martin's even written a whole blog and recorded a video talking about why you shouldn't worry about your credit score at all!
But we're interested to hear the views of anyone who does regularly check their credit score or credit report; why do you check it and how does it help you? Do you have a favourite provider or try and check multiple sources?
Let us know by replying below.
Replies
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The credit reports are a vital part of the credit system so lenders know who they can lend to based on past behaviour e.g. not wanting to risk giving money to someone who is unlikely to pay it back, based on past history. They certainly are a money maker but have their purpose, so long as we keep them as they are, rather than letting them push the US scoring system where your score rules your life.
It's not all about whether or not people need credit. But good for you if you are in such a good financial position that you don't.