What’s in my Credit Report?
•Personal information: Personal data, such as Date of Birth and Address
•Financial Associates: People you are associated with and other names you are known by
•Electoral Roll: Your current registration with local authorities
•Credit Agreements: Your detailed account information
•Court Information: Judgments filed in your name
•Notice of Correction: Statements you’ve added to your file
•Previous Searches: Companies that have requested or viewed your credit information
•Council of Mortgage Lenders: Lenders who have recorded a repossessed property at your address
•Property Valuation: The Land Registry provides historic house purchase prices from April 2000
•CIFAS, UK Fraud Prevention Service: Alerts registered at your addresses
•Gone Away Records: Companies recording that they are unable to find you
Who Can Look at My Credit Report?
Anyone with what is considered a permissible purpose can look at your KMCS report. These companies, groups, and individuals include:
•Employers and potential employers (usually only with your written consent)
•Companies you allow to monitor your credit report for signs of identity theft
•Some groups considering your application for a government license or benefit
•A state or local child support enforcement agency
•Any government agency (although they may be allowed to view only certain portions)
•Someone who uses your credit report to provide a product or service you have requested
•Someone that has your written authorization to obtain your KMCS credit report
Why should I care about my Credit Report?
Understanding how the information on your credit report is collected by and how this information is used by lenders is very important. This is because the information contained in your credit report can impact your ability to obtain credit.
Credit? What about it?
Put simply, credit worthiness is the reputation for repaying debts on time. People with a better credit score are likely to receive more favourable terms for loans and credit cards as well as house or flat rentals. Employers, insurance companies and other service providers may also review your credit report in order to make decisions about you.
What is a Credit Report?
KMCS is one of the leading credit reporting agencies in the UK – there are two others. Each maintains information about you and your credit history. This information is gathered on an ongoing basis from many sources that have extended you credit.
Lenders, employers, landlords, and other service providers buy that information in the form of a credit report to help them decide whether to approve your application for a loan, credit card, job, or housing, or to offer you a product or service at a particular rate.
Because your credit file changes constantly, it’s important that you review your information regularly to check its accuracy.