About your credit file

Your credit file contains details about you that lenders use to determine whether they can offer you a credit card. Find out about the information in your file.

Review your credit report

Get the bigger picture on your finances by checking your credit report. The major credit agencies are Equifax, Experian and Callcredit and each one will calculate your score in a slightly different way.

When you apply for a credit card, the lender will ask at least one of these companies for information. These agencies are required by law to let you see your credit report for no more than £2, but there are also free online trial options.

Fix mistakes

Check your credit report with care and contact the agency immediately if something doesn’t look right. Mistakes are relatively common and they can be a result of a simple error or something more serious like identity fraud.

If the credit reference agency agrees there’s a mistake, they should be able to amend or make a note on your account or you can contact the lenders to do so.

Similarly, if your circumstances change – e.g. your address or marital status – then it’s worth contacting them to update your file.

Understand soft and hard searches

It’s a common misconception that checking your credit report can affect your credit score. Be aware of the difference between hard and soft searches. Hard searches are initiated when you make actual applications for credit cards, loans or mortgages and leave a footprint on your file. Soft searches, such as checking your credit report or using marbles’ FastCheck, do not.

You should check your credit report at least annually, but you can check it as often or as infrequently as you like without impacting your score.

Start building now

One of the easiest ways to start building your credit rating is to get a credit card and use it responsibly. Alongside establishing good credit in your name, this will help you build up a trustworthy reputation in the eyes of lenders.

Just try to avoid rejection where possible. When you’re beginning to build your credit rating, start off small and look for cards available for those with little to no credit. With marbles’ FastCheck, you can see your likelihood of being accepted before you apply.