|
When you apply for a loan, credit card or mortgage, the lenders check your credit history reports to decide whether or not to give you the credit. When you apply for a loan, credit card or mortgage, the lenders check your credit history reports to decide whether or not to give you the credit. They check the information from your credit report and the information you have supplied in the application form, and then calculate your credit score. After that they decide on how much to lend you and the interest rates to be charged. Each lender has its own method of calculating the credit score. The lenders get the credit report on a person from one or two of the three credit reference agencies in UK like Experian, Equifax and CallCredit. The information offered by each one of them is slightly different. So if you know from which credit reference agencies the lender gets your credit report, you have better chances of getting your credit, and making a better deal with the lenders. Many of the websites provide you information on different lenders and the reference agencies from whom they get the credit reports. Thus, you can order free credit report online from these reference agencies and check whether the report submitted by them is accurate or not. If you find any mistake in it, you can immediately contact them and have it corrected within 28 days. Experian is the largest credit reference agency in the UK, which offers the latest and reliable information. It is presented in a simple manner, and is easy to read and follow. It is more expensive than the Equifax and CallCredit. All the three credit reference agencies offer you free credit reports online. The credit reference agencies prepare your credit report from public records and the information provided by lenders and other financial associations. This, they submit to the lenders, and they decide whether to give you the credit or not. When you apply for a credit, it is more important how you repay rather than your income. Similarly if you have never had any credit, the lenders will be hesitant to lend you money, as they cannot decide whether you are a good customer or not. If one lender says no to your credit report, it doesn’t mean that all will reject you. So there is no need to get dejected in such cases. In order to make sure that nobody is collecting your financial details and taking credit against your credit report, you must always check your credit history reports at regular intervals. This will avoid identity theft and identity fraud. Author: The article is particularly written for Credit Checking. For more information you can visit Free Credit Check Online and can get some more about it.
Related Articles -
Credit Checking, Credit Check For Free,
| 
