Lesson 9
Your Credit File and the Score Myth
Learn what lenders actually see, what moves it, and how to check and correct your file before you apply for credit.
Builds on
The file you didn’t know you had
Every time you borrow, a record follows you. Credit reference agencies keep files on how you’ve handled credit, and lenders read them when you apply. In the UK the main agencies are Experian, Equifax, TransUnion and Crediva, and their files on you can differ. (Source: MoneyHelper, How to check your credit report.)
Each agency also boils its file down to a score, the number your banking or credit app shows you, often with a word like “Good” or “Excellent” beside it.