There are errors in my credit report – how can I fix them?
It can be really frustrating to check your credit score and find that there are errors in your credit report, especially if you are trying to apply for credit. Credit Agencies have rigorous checks in place to ensure that the information is accurate; however occasional mistakes can happen so they really encourage you to check your report regularly.
Errors on your report could potentially affect your chances of getting credit in the future. Errors may include incorrectly recorded late payments, arrears or defaults or not being recorded on the Electoral Roll at your current address.
If you spot an error please contact your Credit Agency. Please have to hand your account reference number and full details of the entry which you are disputing.
Can I get something removed from my report?
We are unable to remove any credit report information which is accurately represented in your Experian Credit Report.
We are unable to remove information from your Experian credit report if this is being reported accurately. Here are a few facts regarding your credit report information:
- Account details remain on your credit report for six years from the settled/default date.
- CCj’s/Bankruptcies and IVA’s remain on your credit report for six years from the start date.
- Searches remain on your credit report for 12 months.
- Financial Associations remain on your credit report indefinitely. These cannot be removed whilst a financial link remains between yourself and the names individual.
If you believe an entry in your credit report is not being recorded accurately and requires updating/removing, the best thing to do is to email your Credit Agency ASAP. Tell them your customer reference number, which account is incorrect, what’s wrong with it, and what you think the record should say.
Can I add a Notice of Correction to my report to explain something?
If there are exceptional circumstances behind something on your credit report that is causing a negative effect, you can add a Notice of Correction to explain this.For example, if you missed a payment on your credit card because you were made redundant you could add a Notice of Correction to explain this.
Banks and financial institutions will only see your Notice of Correction if they use the same Credit Agency to view your Credit Report. You can also ask Experian, Equifax and Callcredit to add this notice to their credit reports for you.
If you apply for credit, the lender must read any Notices of Correction that appear on your credit report but they are not required to take them into account when making a decision.
Adding a Notice of Correction to your credit report will slow down any future applications you make for credit because the lender has to read the notice, but they do not have to take it into account when making a decision.
How can I add a Notice of Correction to my credit report?
If you are a Credit Agency member you can add a Notice of Correction to your credit report. Email your Credit Agency ensuring that you include:
- Your customer reference number
2. Detail of which record you want to add the Notice of Correction to – include the name of the lender the account is with and the date of the incident you wish to address (e.g. the date of the missed payment)
3. A statement no longer than 200 words which is factual, relevant only to the entry on your credit report that you are explaining and not directly referencing or blaming a company or another person
If you have a statutory report, but are not a Credit Agency member then please write to them, including your full name, address, email address and 200 word notice of correction text. They will then respond to you usually within 7 working days.
There are things missing from my credit report
Credit Agencies uses the information you supply to them during your registration to search their databases and compile your credit report. To show your full report they will require all your previous addresses for these six years.
To add previous addresses, you will need to go to your Account and add to your address history.
If all of your address details are up to date, and there are still credit accounts missing from your credit report, this could be for a few reasons:
- The company does not share their accounts with all the Credit Reference Agencies
- You opened the account some years ago, before records started to be collected
- The lender only shares details of accounts with us if they have fallen into arrears.
- It is a new account that you have recently opened, this may take a couple of months to show on your credit report whilst your provider awaits an update from the lender. Keep checking your report regularly to check for any updates.
If you believe an account which should show in your credit report is missing, the best thing to do is to email your Credit Agency. Tell them your customer reference number, which account is incorrect, what’s wrong with it, and what you think the record should say.
There’s a financial connection/association on my report – how can I get this removed?
There is a section of your Credit Report entitled ‘Are you financially associated with anyone?’ This lists anyone who you have a financial connection with through a joint credit account or a joint credit application.
If you are financially connected (or associated) to someone on your credit report, their information may affect a lending decision about you. If you’re no longer financially connected with someone named in the financial association section, then they may be able to remove them from your credit report. This means you must no longer have the joint credit account, and that it is closed and settled.
If you’ve never made a joint application or had a joint account with that person – let your credit agency know that in the form, or you can attach an additional letter to explain the circumstances. It’s important that the information on your credit report is accurate and up to date, so if it is incorrect, they’ll raise a dispute with the bank or financial institution that recorded this information on your report.
I’ve changed address and moved house – should I let my Credit Agency know?
Credit Agencies use the information you supply to them during your registration to search their databases and compile your credit report. Credit information is held on your credit report for six years. To show your full report they will require all your current address details and previous addresses for these six years.
To change your current address, or add any previous addresses to your account you will need to go to Your Account on your Credit Agencies website to rectify this.
Why do I need to add 6 years of address history and how do I do it?
Banks and financial institutions base their lending decisions on 6 years’ worth of credit report information. Your credit report will only show you information which is registered at the addresses you have entered on your profile. Therefore, you need to add your full 6 years address history to ensure you can view your full credit report. Your credit score is based on the information shown within your credit report.
What is Credit Matching and how does it work?
Credit Matching is an online comparison service.
It shows you credit deals based on the information contained within your credit report, including credit cards, loans and mortgages. By using a Credit Matching service to choose credit deals you can reduce the risk of your application being turned down.
A Credit Matching service finds you credit products that you’re more likely to be accepted for, such as:
- Credit Cards
- Mobile phone contracts
They can also show you some great offers on:
- Insurance – car, home, life, travel, breakdown, health, pet
- Utilities such as gas and electricity tariffs
- Banking – current and savings accounts
Credit Matching shows you credit products which you are more likely to be accepted for.
Each time you apply for credit it decreases your credit score. Applying for credit that you’re more likely to be accepted for could mean that you don’t have to make lots of applications, and this can help to protect your Credit Score.
How does Credit Matching match me to credit deals?
It uses the information you give them when you sign up to their service, along with your Credit Report, individual lender’s criteria and a few other pieces of data that we will ask you for.
If you are not matched to any products they can put you in touch with an independent financial advisor who has access to an even wider range of offers.
Please note that this website is not responsible for third party products or offers. If you have any queries you can contact any of the providers directly.
What is an eligibility rating?
An eligibility rating is your likelihood of being accepted for a product. This is based upon the information in your Credit Report and the acceptance criteria provided to a Credit Matching service by the lender.
What is a good credit score?
There is no magic score to aim for, because every bank, financial institution and credit reference agency will score you differently. They may even calculate your score for different products differently, e.g. the same bank could give you one score for a credit card application and a different score for a mortgage.However, if you have a high score you are more likely to be given credit.
Your Credit Score is based only on the information in your Credit Report. It is a number between 0-999, with 999 being the best score you can get. They will also tell you whether your score is very poor, poor, fair, good or excellent, to give you an idea of what your score means.
The Credit Agencies Credit Score is a reflection of the various scoring systems currently in use by the major banks and financial institutions, and provides a guide to how they will see you. However, it is just a guide and even people with a Credit Score of 999 can be rejected for credit.
The key to ensuring you are in the best possible position when you apply for any kind of credit, is to understand your Credit Report, and the 15 elements of it that make up your report. Each of these 15 areas can be having a positive or negative effect on how you are viewed. Essentially, if you manage your finances responsibly, and you are not reliant on credit, and you are easily identifiable (e.g. you are on the electoral roll and have a thorough address and credit history). This will stand you in good stead for getting the credit that you want.