UK consumers can now access their statutory credit report online for just £2, thanks in part to a recent agreement between the Department for Business, Innovation and Skills and the three major UK credit reference agencies: Experian, Equifax, and Callcredit.
Previously, consumers were only able to gain access to their statutory credit report in paper form for a £2 fee.
But in a move to make access to credit information easier and faster, the Government has forced the three main credit agencies to make the reports available online for a statutory fee of £2.
The new changes also mean that consumers who have been victims of identity fraud or are seeking debt advice will be able to check their credit report online free of charge.
Your personal credit report will allow you to monitor your financial commitments by viewing, for example, what credit commitments you have outstanding and any late payments you have made.
It is also important to know what it says as the information held on your credit report will affect your ability to access mortgage or credit card deals in the future.
All lenders use data from at least one of the above agencies when assessing your file, so if the information is inaccurate you risk being rejected through no fault of your own.
