If you would like to view your credit report, but do not wish to subscribe to one of the credit monitoring services then the Statutory Credit Report costing £2 is another option available to you.
Your Credit Report is a very important file because it is searched whenever you make an application for credit. If there are any mistakes on your credit report, you could find your applications for credit are being declined, and that can be quite disappointing and frustrating at the same time.
You may have already applied for credit and have been turned down. The rejection letter may have told you the decision was based on information obtained from the credit reference agencies. This is the credit report you would want to get if that is the case as you may see what is causing you problems.
In this article we provide links to the three Credit Reference Agencies who can provide you with a copy of your Statutory Credit Report and explain why you should obtain your report from all three agencies.
What is a Statutory Credit Report?
It would help to explain what your Statutory Credit Report is. Boiled down it is an overview of your credit report including all the information it contains. This will include things like any credit accounts you hold both past and present, the payment history for these accounts and any credit searches performed in the last twelve months for example.
You can quite easily access this information as you will find out later on in this article. When you access your Statutory Credit Report you will be able to see the very information your lenders are seeing whenever they make a credit check against you.
How can you access your Statutory Credit Report?
In the UK you have a legal right to see the information contained within your credit report under the Data Protection Act. The fee of £2 is to cover the costs of providing this information to you.
You can obtain your statutory report from the following Credit Reference Agencies: –
Clicking the above links will take you to each credit reference agency. Be wary of their offers for credit monitoring trials etc, unless of course you want them. If you just want to see your raw report and aren’t interested in anything else, the Statutory report will meet your needs just fine.
In this digital age you will receive a copy of your credit report electronically, but you can still choose to have the report posted out to you in printed form if you wish. Either way the information will be the same so it’s up to you.
You could consider reading my Noddle Review to see another way you can get your credit report.
Is it worth checking your Credit Report?
If in the near future, you are considering applying for a mortgage or personal loan then it might be a good idea to check your credit report. That way you can make sure everything is in order before you apply, allowing you to get any errors corrected beforehand.
Should you find any errors on your Statutory Credit report than you have a right to get those errors corrected. You can normally do this by raising a dispute with the relevant credit reference agency, and this information should be corrected within 28 days of you notifying them of it.
Will information be the same from all three Credit Reference Agencies?
Not necessarily no. This is because lenders may not provide information about your accounts to all three of the Credit Reference Agencies. In fact typically they will update one or two of the three agencies so information may be different across all three of the credit reports each agency holds.
This means that you could have adverse data on only one or two of the three reports. So with this in mind, it is certainly worth getting your statutory report from all three of the agencies to check the information each one is reporting for you.