Credit

Nobody has the right to credit. Before giving you credit, lenders such as banks, loan companies and shops want to be confident that you can repay the money they lend. To help them do this, they may look at the information held by companies called credit reference agencies.

If personal information held about you is incorrect or out-of-date, it could lead to you being unfairly refused credit.

You can read all about credit, your rights and what to do if things go wrong in our leaflet credit explained.

What are credit reference agencies?

Credit reference agencies provide lenders with information about potential borrowers, which they then use to make lending decisions. The information shared may include information about your previous credit history. They hold certain information about most adults in the UK. This information is called your credit reference file or credit report.

The three main consumer credit reference agencies in the UK are: Callcredit, Equifax and Experian.

Refused credit?

If you think you have been refused credit unfairly, you can ask the lender to explain the main reason why and review their decision. Even if the lender reviews their decision, it may still turn you down. You can request a copy of your credit reference file from any of the three main consumer credit reference agencies in the UK.

How do I get my credit reference file?

You have the right to write to any of the credit reference agencies and ask for a copy of your credit reference file, which will cost you £2.
Your letter should include:

• your full name -also any other names you have been known by e.g. your maiden name;
• your full address including postcode;
• any addresses where you have lived over the past six years;
• your date of birth; and
• a cheque or postal order for £2 made payable to the credit reference agency.

You should keep a copy of your letter and you may want to send it by recorded delivery. The credit reference agency has 7 working days to send you your file after receiving your letter and fee.

The addresses of the credit reference agencies are:

You can also find out more about your rights under the Data Protection Act.