Paying to View Credit History

Sootyandspark

Why do we have to pay to view our credit files. These companies gather information about us, make assessment of how financially worthy we and then on top of that we have to pay for the information to be given to us. 

Some things just don’t make sense! 

marcia_

Sootyandspark said:

Why do we have to pay to view our credit files. These companies gather information about us, make assessment of how financially worthy we and then on top of that we have to pay for the information to be given to us. 

Some things just don’t make sense! 

 There is no need to pay any company to view your credit records. There are numerous apps that let you view it for free. I use clearscore 

vacheron

I get my credit report for free from so many different companies including Halifax, Natwest and Credit Karma, there are plenty if you look about. 

But the reason you pay if you go direct is because they are a business, and are not collecting all this data for our benefit, it is to sell it to potential lenders.

Isthisforreal99

What doesn't make sense is paying for it when there are various ways to get it free.

Sootyandspark

I did not know you could get it for free - you live and you learn! Thanks all 😊

MyRealNameToo

Sootyandspark said:

Why do we have to pay to view our credit files. These companies gather information about us, make assessment of how financially worthy we and then on top of that we have to pay for the information to be given to us. 

Some things just don’t make sense! 

You dont have to pay, you can do a SAR request and get it for free but it's not instant nor a convenient on demand app.  Why should these companies invest time and money in giving you data for free in the convenience of an app? 

They dont make an assessment on how financially worthy you are, thats the snake oil that they try to sell. They present your history and the lender makes their assessment and their own decision. It's totally different to the likes of the US. 

There are various third parties who've decided it's worth developing their own apps and hooking into the CRAs but remember when something is free, you are the product. You'll be heavily bombarded with adverts for new credit and how talking loans where they introduce you will make you better off etc. They are ultimately credit brokers and accessing your credit score is their way to get into your good books and commission when you click through from their app. 

mta999

download the credit karma app