Discover your financial history with a free credit report

More and more people are finding out what their credit standing is so they don't encounter financial difficulties now or in the future.

A credit report details all of your major financial history concerning loans taken out from financial institutions, and is used by them to determine if you're eligible for credit. After all, in trying to work out if you're able to repay a loan, looking back to see if you've abided by the terms of past loan repayment schedules will be the best guide possible.

Experian CreditExpert, a leading UK credit reference agency, provides credit reports for individuals so they can see how their financial history looks as it would be viewed by a lender considering a loan application from them. It gives people a realistic picture of what to expect before making an application, or in the event that one is turned down when the credit report is good, they have a solid reason to query the decision.

Credit reports are compiled based on information from the public records -- such as court judgements, individual voluntary arrangements, bankruptcies and electoral roll information -- and information from lenders and financial institutions, including credit accounts, financial associations and credit applications.

Many people turn to Experian CreditExpert to find out what their credit report is, and you can sign up for a 30-day trial and discover yours for yourself. You have the legal right to view this information, and if you find errors in them, they can be corrected.

With your 30-day trial from Experian CreditExpert, you have unlimited access to your own personal credit report and score. There's no contract and you can cancel at any time during the trial period. It’s a no-risk way to find out what your credit risks are.

The BBC Watchdog programme said in an article about credit reference agencies and their reports that some people might think they have a clean credit report but simple errors -- such as wrongly reported problems or errors with bank accounts -- can lead to a negative report that causes all manner of problems.

“Almost every adult in the UK has a credit score produced by a credit reference agency,” the article said. “These agencies rate your creditworthiness by keeping track of your bills, debts and repayments. A good credit score means you should be able to get a mortgage, personal loan or credit card. A bad one means you might even be rejected for a mobile phone contract.”

It is therefore vital that you know what your credit report and score is, so that you’re aware of your financial history at all times, and when applying for big things like mortgages or signing up for services you’re aware of your background before the providers are.

When you’re confidently clued-in, you can move ahead more boldly, instead of being knocked back and not knowing why. An Experian CreditExpert credit report will give you that extra edge in your financial affairs.