What a credit report contains and how to check errors

A credit report is a record of information used by lenders and other authorised organisations when assessing identity, financial commitments and account history. It does not provide a complete picture of a person’s finances, and the information shown may differ between reporting organisations.

Identity and address information

The report normally includes identifying details such as a name, date of birth and current or previous addresses. Address history helps match financial records to the correct person. An unfamiliar address or variation in a name may be a simple recording issue, but it should be checked carefully.

Credit accounts and payment history

Credit cards, loans, mortgages and other reported accounts may appear with their opening dates, balances, limits and payment status. Payment history can show whether payments were made on time, missed or recorded under an arrangement. Closed accounts may remain visible for a defined reporting period.

• Check that every account belongs to the correct person
• Compare balances and account status with recent statements
• Look for payments incorrectly shown as late or missed
• Confirm that settled or closed accounts are described accurately
• Note any duplicated account or balance

Public records and financial associations

Relevant public information may include court judgments, insolvency records or electoral-register details where applicable. A report may also show a financial association with another person where a joint financial product has created a recorded connection. Living at the same address alone does not necessarily create such an association.

Search footprints

A search footprint records that an organisation accessed the report. Some searches are connected with an application, while others are identity, quotation or account-management checks. The report should identify the organisation, date and type of search so that unfamiliar activity can be investigated.

• Review organisations that searched the report
• Check whether the search date matches a known application
• Distinguish application searches from quotation or identity checks
• Investigate repeated or unfamiliar searches
• Keep a record of any query raised

How to question inaccurate information

When information appears inaccurate, collect statements, payment confirmations, correspondence or identity documents that support the correction. The disputed entry can be raised with the reporting organisation and the organisation that supplied the data. Keep copies of the request, supporting evidence and response.