Check your credit report and credit score online now for free from Equifax
No matter where you live, a free credit report is one of the most valuable tools in managing your finances. Equifax has helped more than 20 million people worldwide gain access to and view their Equifax credit report for free.
A credit report is an essential tool used by lenders when you make an application for finance. A good credit report is taken for granted by many people but few understand how much a bad or incorrect report can affect the decision made by a lender. Lenders use credit reports to decide whether to accept your application for finance, such as for a loan, mortgage or credit card, and also to determine how much interest to charge you. A person with an excellent credit rating usually get their application for finance approved on the best available interest rate whereas a person with an average or poor credit rating may get the same product but get charged a much higher interest rate.
A credit report is not only used by lenders to decide the outcome of your application for finance, it may also be used by other agencies such as your landlord. When you want to rent a property to live in, such as a flat or a house, the landlord will usually check your credit report to see if you are a reliable tenant. A bad or below average credit report might mean that you cannot rent your dream home because the landlord believes that you cannot afford it or are not reliable enough.
When you apply for a job employers also check a candidate's credit report to see how reliable and dependable they are. If your credit report shows that you always pay your bills on time and are not missing or making late payments then you will have a much better chance of securing a job offer. This is because your credit report is seen as an extension of your personality - a good credit report indicates good habits and a sense of responsibility whereas a bad credit report shows that you maybe risky for the employer because you are not dependable enough.
Why should you check your credit report with Free Credit Search?
A free credit report will always show what lenders and other agencies see about you. It is a personal record of all your financial activities and other personal information. The report contains a list of all the loans, mortgages and credit cards you have taken out and have applied for in the past, including the outstanding balance, and also shows your repayment history. Other information that is recorded on the report are any court judgments against you and details of any unpaid bills. With Free Credit Search you can check your credit report and score for free from Equifax.
It is a good idea to check and monitor your credit report regularly because credit reference agencies are not always perfect. By checking it regularly you can be sure that the information it contains is up to date and accurately reflects your personal situation. You may find discrepancies in your credit report; this may affect your credit rating and credit score negatively therefore costing you more money in extra interest rate payments in the long run. Some common mistakes made include mixing up your credit report with another person that has the same name as you. Many credit reference agencies still input data manually therefore mistakes are likely. As your credit report is built up from many different data sources it is really important that you make sure this information is correct and up-to-date at all times. This will increase the chances of you getting credit. You may also find items on your credit report that you are not familiar with. This is usually an indication that you are a victim of identity theft.
If you do find discrepancies on your credit report then Equifax is there to help you get it corrected by challenging it and updating the inaccurate information held about you. It is not always easy to correct inaccurate information held about yourself and it may also cost you a lot of money. You will also have to provide proof that the information is incorrect and this will usually mean filling out various forms with many different agencies. However, as the leading credit reference agency, Equifax can expedite this procedure and get results quickly so that you can repair your credit report and get on with your life. This will no doubt help to improve your credit score by repairing your credit report and therefore this will save you a lot of money.
