The Advantages of a Multi-Agency Credit Report

Posted by Paul Anderson Riley in Credit Reports on 17 May 2019 - Paul is a Credit Analyst at checkmyfile

These days your Credit Report can be checked for any number of reasons throughout the year, including background checks during job applications, landlord checks and even from insurance or utility providers when you shop around for quotes.

That means even if you’ve not applied for any form of finance, there’s a good chance that you’ve undergone a credit check at least once in the last couple of years. If you have applied for credit or are about to, the information on your Credit Report becomes even more important.

Because there are four Credit Reference Agencies in the UK that provide your Credit File to lenders, landlords, employers and more you can’t be certain that the information held by each is correct until you’ve checked for yourself.

This is where checkmyfile’s Multi-Agency Credit Report comes in: it lets you see what’s being reported by all agencies in one place, saving you the trouble of checking each individually.

You’ll be able to see:

  • Full Credit History and public data from Equifax, Experian & TransUnion and public data from Crediva
  • Your information as reported by each agency in one place
  • How lenders, landlords and employers will be able to see your Credit Report
  • Who has viewed your Credit Report in the last two years
  • Public information including Electoral Roll listing and court data

You’ll also be able to get support & helpful insights from our professionally-qualified Credit Analysts online, by phone or by email.

You can try checkmyfile FREE for 30 days, then for just £14.99 a month after, which you can cancel online at any time.

Why is it so important to see a Credit Report from multiple sources?

One of the most important (but often forgotten) reasons to check your Credit Report from more than one source is that when lenders perform a credit check, they will often gather your information from more than one agency.

If you’re applying for a mortgage (where the checks are significantly more thorough than most other forms of credit) it’s essential to know what the lender will see ahead of time and the only way to guarantee this is by checking what’s being reported by multiple agencies.

Alternatively, if you’re unsure which agency is going to be used to carry out a credit check, it makes sense to see information as it is being reported by all agencies, so your bases are covered regardless of which is searched.

Isn’t the information held about me by each agency the same?

Even though each agency reports your public data and most report your Credit History, it’s entirely possible that each one will hold slightly different data. Lenders don’t always report your payment history to each, and instead are more likely to report just to the agency (or agencies) that they use for credit checks.

Even public data, such as Electoral Roll address formats can sometimes be loaded in different ways, which can lead to lenders having trouble retrieving your file, so seeing all of your information in one place will let you easily spot and change any errors.

If you haven’t already, you can try checkmyfile FREE for 30 days, then for just £14.99 a month afterwards, which you can cancel online, by phone or by email. You’ll get full access to the UK’s most detailed Credit Report, plus support from our professional Credit Analysts.

Updated by Jamie Mackenzie Smith 17/05/2019

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