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Help - What is my credit report and what should I do with it?

Updated: Jun 1, 2023

I know how confusing getting your credit report is!

Different agencies such as Clearscore & Experian have different systems that generate different scores for a start!


Checkmyfile.com is a good place to look as it aggregates everything into one place & is an independent review. However it's only free for 30 days so just be mindful of this. Afterwards it's £14.99 a month.


So why do you want to be checking your credit report anyway?

  1. If you're approaching getting a loan, a new mortgage or a remortgage then it's really sensible to check your files before you apply for said loans. This way you're aware of any credit blips or issues that might affect your application in advance. You can then put things right if there is an issue.

  2. Your credit file gathers together your entire financial conduct over the last 6 years. Mortgage lenders will use this to make decisions on whether to lend to you & at what rate of interest.

  3. There's a lot of information here, the score is an indicator overall & is useful although it's more about the substance behind the score that is most important.

  4. If you've had a credit blip, a missed payment, you can dispute this if you know it's incorrect. It can happen if you're a day late for example with a payment particularly if the lender is very quick off the mark so pick up the phone & get this sorted with them directly.

  5. If your score is very low check you're on the Electoral Role! Are you able to vote from your current address? Visit here to find out more & make the changes necessary: https://www.gov.uk/register-to-vote or use checkmyfile.com.

  6. It's a great idea to check your credit file maybe once a year especially for any areas of credit or identity fraud, any insolvency records or court judgements. You can get help to remove incorrect financial associations perhaps if you're recently separated or divorced. Your credit file is updated every month so if you do have a missed payment within the last 6 months that is affecting your ability to get a mortgage, it will "drop off" This means lenders can see you've got a clean record for the last 6 months but of course it will remain on your credit history for 6 years.


Here is Donna & I discussing the very same above, feel free to contact her if you'd like some personalised advice as she is FCA Regulated with elevatefs.org



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Love from


Lucy x


ps. If you're starting your budgeting journey or you need a lovely fresh perspective, you can now book me for one to one mentoring support! Click Buy Now to view what you get.



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