How to get your credit history for free!
Did you know that Equifax offers a free service to people interested in receiving their credit file for free? All you need to do is complete this form and Equifax will send you the credit file within 10 days.
Why should you get your credit file?
It’s an overview of your credit history and shows repayments, credit applications, records of overdue debt and bankruptcy. It’s what a bank or lender would see when you apply for a credit card, personal loan or mortgage. You should check the information on your credit file is correct as it may affect your chances of successfully applying for a loan or credit card. Check out these tips for improving your credit history.
What can be listed on your credit file?
Defaults are one of the items that may be listed on your credit file. These occur when you’ve not paid an account, such as your phone or gas bill for more than 60 days. This overdue account will become a default once the credit provider has written to you about the amount owing and letting you know that it will be listed with a credit reporting agency like Equifax. Defaults stay on your credit file for five years from the date of listing by your credit provider. They will be automatically removed after this time. However, if you’ve paid a default make sure your credit provider updates the status as paid on your file. Credit enquiries are another common item you may see on your credit file. These are all the applications you’ve made for credit over the last five years. If there are an excessive amount of enquiries, then a lender may refuse to give you a credit card or loan as it could signal financial hardship.