What is a credit reference agency?

At some point in our lives we will all apply for credit – be it a car loan, a mortgage, a mobile phone contract or a new credit card.

And whenever you apply for credit, the lender will approach a credit reference agency for information about your credit history. This is to help them make a fair and responsible decision about whether to give you credit. It will also help them protect themselves against fraudulent applications – a growing problem in the UK.

How many credit reference agencies are there?

In the UK there are three main credit reference agencies – Callcredit, Equifax and Experian.

Why do we have credit reference agencies?

Credit reference agencies exist because lenders need an accurate way to judge people’s creditworthiness.

Do credit reference agencies make lending decisions?

No – credit reference agencies will not decide whether you are to be given credit. That is the lender’s decision.

What information do credit reference agencies hold?

Credit reference agencies hold personal information and details about your financial history.

How can you find out what information Callcredit has about you?

The best way to find out what information Callcredit has about you is to check your credit report. Even if you are not currently applying for credit, you should do so to ensure the information we have is accurate.

You can access your statutory credit report using the link below: