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Things To Look For On Your Credit Report

Whenever you apply for credit- whether it be a credit card or a loan for your mortgage, you will have to go through an application process which will involve your lender checking up on your credit report. If you don’t already know what a credit report is- it is essentially a full list of every credit you’ve ever taken out, plus a record of every payment and missed payment you have experienced in your life.

When the lender looks at your credit report, they want to see a steady payment record and ideally no prior missed payments or debts. If they do find any issues with payments or you have frequently paid your share back late, you will be penalised in the way that you are less likely to be accepted for credit.

The best way for you to ensure that you are always eligible for credit is to regularly check up on your credit report and know what to look for. You may need free credit repair services if your credit score isn’t good enough, but ideally you won’t have any issues and you can just work on maintaining these good paying habits.

What is on the report?

Your credit report will include the following:

  • Electoral roll information
  • Personal details
  • Details of your previous credit
  • Details of money you owe
  • Public record eg bankruptcy
  • Financial links to others eg a mortgage
  • Missed or late payments


When you start to look through your credit report you will want to check every single line to make sure that your information is correct and there are no credit accounts on their which don’t belong to you. If there are, this could be affecting your credit rating in a negative way so you will need to sort it out.

The good news is that even if you have a bad credit score, it does not automatically mean that you will be rejected from every single loan you apply for. For example, if you apply for a credit card with one company and they say now, you may still be able to get a credit card with another company. The reason for this is that your credit score is calculated by each company individually. It is not a universal figure, it can change depending on who is calculating it and what parameters they use. This means that you will always have a chance to borrow.

However, you will still need to keep your credit report as clean as you can, and to do this you will need to resolve any errors and also start looking at some of the debt you have accrued over the years. If you have outstanding debt, you need to pay it off as soon as you can to make sure that your credit rating doesn’t suffer further. It may take you some time but it is really the best way to keep you on track and your credit score up. By adopting healthy financial habits you will be more likely to be accepted for credit in the future.

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