Free Credit Report - Check Your Credit Rating
The information in your credit report is key to getting the loans you need – but it is only half the story. You can view your credit report online now for free, and order your National Credit Score from CreditExpert, Experian’s online credit monitoring service.
Before deciding whether or not to lend money, many organisations take your report, plus additional information included on your application form, and generate a credit score. This score indicates the risk involved in granting you credit. Over the years, automated scoring has proved to be more accurate and consistent than subjective human judgement. It also allows lenders to make decisions more quickly.
Computer programs score your application by looking at how past customers with similar profiles repaid their credit. Every lender uses a slightly different formula that represents its own and industry experience and these may be adjusted according to the type of credit you are applying for. So every application could generate a different credit score.
Your credit score will also change over time, as the information in your credit report and on each credit application form is updated. Your score will be a number between 0 and 1,000. Generally, the higher your score, the easier you will find it to get loans and credit.
If you are thinking about applying for credit, it’s worth ordering your National Credit Score from CreditExpert. It is based on your Experian credit report and is an excellent guide to how lenders may assess the information held on your report.
As a member of CreditExpert, you can order and view your National Credit Score online for the special price of £4.99. You will be able to view your credit score for 12 months in your Score Library.
If you are not scoring as well as you would like, you will find advice, hints and tips on the site that may help you to improve your score. You can order a new score at any time, to monitor your progress.
