Notice Of Correction

What is a Notice of Correction?

A Notice of Correction is a small note of up to 200 words that you can leave on your Credit Report to explain something that prospective lenders may otherwise call into question. Over the years these have tended to be used as a means of posting ‘excuses’ on individuals’ reports and as such it is often the case that lenders will ignore the entry.

Credit Reports containing Notices of Correction cannot be assessed using standard credit scoring methods and instead must be manually assessed, which is less efficient and leads to higher levels of declined applications as automated systems cannot process them.

Such a Notice can act as a free alternative to a Cifas Protective Registration if you are worried about identity theft. Simply record a note explaining that you`re worried about third parties using your details to fraudulently apply for credit, and any applications in your name will be subject to additional manual verification checks, to ensure that the applicant is you.


Q: Is a notice of correction good or bad?

A: There are both advantages and disadvantages to Notices of Correction, depending on what you’re using them for. If you have a genuine reason for submitting a Notice of Correction (such as helping prevent fraud if you are particularly vulnerable), then you will notice the benefit. Otherwise, it may only serve to make your application for credit take longer.

Q: How does it affect my credit rating?

A: It doesn’t affect your rating or your score, but it might still have an impact on the number of places that you can borrow credit from. For places that use an automated system for finance (like a store card), you may be declined because a Notice of Correction requires human verification before your application can be approved.

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