Where does the
information in my credit report come from?
The credit reference agencies get their data from banks, credit card companies, and other
lenders. This data typically shows how quickly a person pays their account and may also
show the credit limits they have been granted and any slow or defaulted payments. The
credit reference agencies also get information from public records, such as the Electoral
Roll, county court judgements, and bankruptcy records.
Who uses credit reference agency
information?
The credit files held by the credit reference agencies are used by lenders when a person
makes a credit application with them. The lenders can look at the information that has
been compiled about the applicant, and use this to help them decide whether the applicant
appears to be a good credit risk. Lenders that may use credit reference agency files
include banks and building societies when considering loans or mortgages, catalogue
companies and shops that offer credit facilities, and credit card companies. |