What is...

Lifetime Change

Lifetime Change can be defined as the difference in an account’s opening balance and its current balance.

Knowing your account’s Lifetime Change is particularly useful for tracking the state of your credit agreements, such as a mortgage or personal loan. A measurement of Lifetime Change allows you to quickly see how much your account balance has changed and how it has affected your overall credit commitments.

How often is Lifetime Change updated?

When one of your lenders reports a new balance to the Credit Reference Agencies, the account’s Lifetime Change will be updated accordingly. As lenders typically report new information on a monthly basis, it may take up to six weeks for changes to show on your Credit Report.

How can I find my Lifetime Change on my Credit Report?

Using your checkmyfile Credit Report, you will be able to find Lifetime Change for your credit agreements by clicking the ‘View’ button on the account you’re interested in. Click the Account Details icon in the top right and this will provide you with the details of each account including the lifetime change if relevant.

You will also be able to see how your balances have changed when using the interactive borrowing history chart.

You can try checkmyfile free for 30 days, then for just £14.99 a month afterwards, which you can cancel online at any time. You’ll be able to compare what is being reported by Equifax, Experian and TransUnion in the same easy-to-understand format, with expert support, should you need it.

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