Credit reference agencies are companies that compile the information on your credit history. There are 3 main credit agencies in the UK, they are : Experian, Equifax and Call Credit. All lenders will use a credit referencing agency to access your credit report when you make an application for credit. Your actual credit score and the information held on you by the three agencies may differ slightly.

Credit agencies compile their data on you, from the various companies with which you have held financial agreements both past and present.

The main source of the data contained in your credit report are;

• Electoral Roll Information

This contains details of whom lives where and with whom. It is publicly available.



• Court Records

Any County Court Judgements (CCJ's) and Bankruptcies would indicate that you have history of debt.



• Fraud Data

If you have committed or been victim of fraud, this would be held on your credit report



• Search, Address and Linked Data

Including any previous searches by lenders with which you have applied for credit, addresses your linked to and people you may have a financial association with. (eg; Partner)



• Account Data

Banks, building societies and other financial organisations keep data of all your payments and transactions, including any credit/store card, mortgage, loan and mobile phone contract payments.

As well as payment details, information about your available credit and debts and if any repayments have been missed is also shared by financial organisations.

Final Note

Clearly with all this data about us accessible by lenders, we are subject to a significant amount of scrutiny when applying for new credit. The aim is to however prevent irresponsible lending. Best practice is to maintain a good credit profile by effectively managing your own finances, therefore you will not have to worry too much about the credit culture.