Are you still paying for your last break-up

Posted by Richard Catlin in Credit Check on 18 February 2008 - Richard is Marketing Director at checkmyfile.

It may come as quite a shock to some people that previous partners may still be on the scene after all, in a very unexpected way.

If you have been previously married, or have spent any length of time living with a partner, then there is a good chance that you will have applied for credit in joint names. Anything from an application for a mortgage to a request to open a joint bank account will result in a “financial association” being created between you and the joint applicant.

When you apply for credit, lenders will look not only at your own credit accounts and how you have managed them in the past, but also those of the people associated with you. It’s therefore possible that your ex-partner's credit history will be used to assess your application. If their rating isn’t as strong as yours, your own credit rating will be lowered. This could result in a lender turning you down, or at the very least asking you to pay a higher rate of interest.

It’s not solely restricted to ex-partners of course, and we regularly see cases where family members become financially associated, often inappropriately.

Thankfully, if you do discover that someone appears on your credit file who shouldn’t be on it, there are steps you can take to ensure that their credit history doesn’t influence your ability to get credit. As long as you no longer hold any joint accounts with them – a joint mortgage for example - you can ‘disassociate’ (for free), and have them removed from your credit file.

With many lenders currently tightening their belts – or dumping their existing customers as Egg have done – it’s vital to make sure that everything on your credit file is as it should be, without any unwanted third parties. Indeed, Egg has said that the accounts it closed were not as credit worthy as they were previously.

By far the cheapest way of checking and monitoring your credit file is through our Unlimited Access Service, which works out £17.99 a quarter. This includes your full private file from Equifax, and lists anyone still financially associated with you, telling you what the impact on your rating and score is as a result of this. Your private file based on Callcredit data and your public file based on Experian are also included.

Getting Unlimited Access will allow you to check your reports after your disassociation to make sure it has been successful – and ensure that your ex-partner no longer affects you.

Click here to check your file now.

With lenders still with their hands in their pockets, access to a card that has credit card cheques available can be a real contingency to cover any unexpected downturns in your financial fortunes. The current Best Buy credit card which still offers the option to use credit card cheques is the AA credit card. With a Typical APR of 16.9% this is well priced, and at present the card has a 0% balance transfer offer for 12 months (the transfer must be done in the first 90 days of the account opening and carries a fee of 3%) and 0% interest on purchases of fuel and motoring and AA costs for 12 months. There’s also a cashback option of 1% for AA members or 0.5% for non-members, or generous reward points.

It’s been a long time since we have seen a card offer so much from a lender who has a wide lending appetite.

Apply for an AA card now

Can I Rent With Bad Credit?

The outcome of the credit checks carried out by landlords or letting agents is a pivotal moment in the application process when you go to rent a property, but the actual information they will be looking at is probably a lot less daunting than you might expect.

Published on 14 Aug 2018 by Jamie Mackenzie Smith

Full Article

What’s Worse - Bad Credit History or No Credit History?

Whenever an application for credit is made, a prospective lender is basically looking to ensure (as much as they can) that any money they loan is going to be repaid on time. A key component in their final decision is the applicant's previous history of borrowing and making payments on time. But how does a typical lender view a consumer with little or no credit history, compared to someone with negative information recorded against them?

Published on 21 Jun 2018 by Tom Magor

Full Article

What Landlords, Employers and Lenders See on Your Credit Report

Your credit report is likely to be viewed many times during your life - often at key moments. While you might expect this when you’re about to apply for a mortgage or a car loan, it may also be checked by a prospective landlord or employer, and just like lenders, there are some key pieces of information they’re looking for that can make or break your job application or property rental.

Published on 29 Jan 2018 by Sam Griffin

Full Article

How lenders can change your interest rate even after an account has been opened

Most people are aware that your credit report and rating have a heavy bearing on whether a lender accepts or declines an application, and the rate of interest that comes with the account. However, not everyone knows that credit scoring – in the form of a particular lenders’ appetite for ‘risk’ - can continue to have an impact on your account even after it has been opened.

Published on 24 Jan 2018 by Kiah Phillips

Full Article

6 Things Lenders Don’t Want to See on Your Credit File

We live in a time where credit ratings have an ever-increasing impact on our lives. Mortgages, loans, car finance, phone contracts… almost anything that involves a degree of borrowing is likely to involve your credit report, or rather, the information it contains. A lot of information goes under the microscope during an application and unless you know exactly what you’re looking at, you may not realise which elements could be hurting your rating the most.

Published on 5 Jan 2018 by Beth Jennings

Full Article

No credit is good credit. Think again

Picture this scenario. You go into a mobile phone shop to get the latest release on a contract. At £30 a month, it is well within your affordability, without pushing your monthly income too much. All in hand, you may think.

Published on 4 Apr 2016 by Ben Tumilty

Full Article

How to go all 007 and get yourself an Aston Martin

Spectre, the 24th Bond film, is released in November and is sure to feature a string of vehicles that will have cinema goers gazing longingly.

Published on 17 Sep 2015 by Richard Catlin

Full Article

When information on your credit report is wrong

One of the main benefits of keeping track of your credit file is that you are able to monitor how your accounts are being reported to future lenders. Whether the account information is correct or not, lenders are increasingly relying solely on computers to interpret your credit file and when there is incorrect information, consumers face the potential of being declined for everyone’s least favourite reason – computer says ‘no’.

Published on 17 Nov 2014 by George Coburn

Full Article

Child Maintenance to be reported on credit report

New Government plans will see those parents who default on child maintenance payments being reported to the credit agencies. This in turn could lead to non-payers being refused for credit such as mortgages, credit cards or even bank accounts.

Published on 10 Nov 2014 by Neil Greenhill

Full Article

The real financial impact of a low credit rating

An average middle income family with a poor credit rating could be paying up to £1,225 a year more on financial products than a family with an excellent credit history, a recent has found.

Published on 4 Mar 2014 by Michael Bolt

Full Article


We are rated number 1 for customer service on