It's important to keep your profile information accurate and up to date. If not, you won't see all of the credit report information on which banks and financial institutions are basing their lending decisions.
You can add a Notice of Correction to any record on your credit report, to explain the background to that record (e.g. the late payment on DD/MM/YY was because I became unemployed on DD/MM/YY). If you think a record on your credit report is incorrect we'll raise your query with the bank or financial institution involved. A Data Dispute will be lodged on your report until the query is resolved. Banks and financial institutions may take Notices of Correction and Data Disputes into account when making lending decisions.
You open a credit account whenever you borrow money, goods or services from a bank or financial institution, on the understanding that you'll repay them at a later date. Credit accounts include credit cards, loans, utilities (e.g. gas), mobile phones, store cards and mortgages.
Credit accounts include credit cards, loans, utilities (e.g. gas), mobile phones, store cards and mortgages.
Make sure all your payments are up to date. Late payments will decrease your credit score. Defaulted accounts are those which the bank or financial institution has terminated because you haven't made payments. They stay on your credit report for 6 years and decrease your credit score.
If you spot any incorrect information (e.g. errors in your name and address on the account, or credit accounts you didn't open) please contact us - it could be a sign of identity fraud.
Check your status history to see whether you're making all your repayments on time and in full. The key can be expanded and closed, and helps you to understand the numbers, letters and symbols included in the chart.
Having a high number of credit accounts in use decreases your score. Find out which ones are currently listed as 'active' and close any that you're no longer using.
Your total credit balance is the total amount you owe across all credit accounts (excluding mortgages). If it is too high your credit score will decrease; reduce your balance to increase your credit score.
Your available credit is the percentage of credit you have remaining from all of your credit accounts combined. Reducing the balances on your credit accounts will increase both your available credit and your credit score. Having a credit card with a high credit limit will also increase your credit score.
A late payment on your credit account will decrease your credit score for up to 6 years. Find out which accounts you owe money on, make payments on time and your credit score will increase.
Opening a new credit account may decrease your credit score. As your accounts get older your score may increase as the average age of your accounts increases. Find out which accounts are currently affecting your score
Applying for a new credit account can decrease your credit score for up to 6 months. Find out which applications are currently affecting your score.
Banks and financial institutions check whether you are on the electoral roll as a precaution against fraud. If you don't appear, or if you are registered at a different address to the one they have for you, they may ask for further proof of identity or even turn your credit applications down.
Public Records (including bankruptcies and insolvencies, IVAs and County Court Judgments) can decrease your credit score for up to 6 years. Find out if there are any public records currently held against your name.
The Gone Away Information Network (GAIN) is used by banks & financial institutions, to notify each other about customers who have moved without paying debts. Appearing on their register won't affect your Experian Credit Score but may make it harder for you to get credit.
Cifas is an independent organisation that banks and financial institutions use to check whether people have been victims of identity fraud. Appearing on their register won't affect your Experian Credit Score but may mean approval of your credit applications takes longer.
We need an accurate list of your current and previous addresses, to ensure your credit report shows all the information on which banks and financial institutions are basing their lending decisions. You should provide us with your full address history in the 'Your Account' section of CreditExpert.
Aliases include your maiden name and variants of your name (e.g. Miss S Smith, Ms Sarah Smith, Mrs Sarah Smith-Jones). We need an accurate list of your aliases, to ensure your credit report shows all the information on which banks and financial institutions are making their lending decisions. You must provide us with a full list of all the names you have been known by in the 'Your Account' section of CreditExpert.
You are financially associated to someone if you have a joint credit account or mortgage. Being financially associated to somebody with a bad credit score does not affect your credit score but could make it harder for you to get credit. Check your financial associations and remove any that are incorrect.