Checkmyfile Explained

What is Checkmyfile and are they reliable?

Checkmyfile is a UK-based service which provides access to credit reports using data from the three big credit reference agencies:

• Experian
• TransUnion
• Equifax

This article covers all the information you need about the service.

Read on to find out more information about:

We work with expert mortgage brokers. Call 0330 818 7026 or make an enquiry for a free, no-obligation chat about how your credit rating affects the mortgage rates you could get.

Checkmyfile explained

Many borrowers ask us whether Checkmyfile is any good, so we’ve written this article to help you understand whether it’s a service that will benefit you.

In order to present a report that is as accurate as possible, Checkmyfile uses various additional sources, such as Registry Trust, the Electoral Roll, banks, building societies, telecoms agencies, and other credit providers.

Launched in 2000, Checkmyfile is a privately owned company that doesn’t sell your data or use it for marketing purposes.

Why do we have credit scores?

Credit scoring can help speed up the process of borrowing credit by providing lenders with information about how risky you are as a borrower.

It can also reduce the possibility of errors. If you feel something is incorrect on your credit report, you can dispute it.

If necessary, Checkmyfile can even contact the Credit Reference Agencies to help remove any incorrect information from your report.

What is a good score?

First, it’s important to remember that the scores generated by lenders are based on their own criteria, so the score you receive will differ depending on the Credit Reference Agency (CRA.) One may have a scoring system that ranges from 0-700, while another has a credit score range of 0-1000.

A score that works well for a credit card company, for example, might not be high enough for a mobile phone service provider.

Therefore, a score deemed high with one lender may not guarantee your approval with another. It can be helpful to view a credit score as a tool that gives lenders an overview of your financial situation and your likelihood to repay a loan.

Each lender’s opinion will differ, as some will consider other factors, including your income, age, or employment type.

How is a credit score calculated?

A credit score is generated using the information on your credit file, retrieved from various sources.

This includes public sources such as the Electoral Roll, the Register of Judgments and Insolvency Information, which provide details about bankruptcy and Individual Voluntary Arrangements (IVAs).

Information is also gathered from payment information regarding your overdrafts, credit cards, loans, and mortgages and details about how often lenders have searched for your credit score.

What looks good on a credit report?

Generally, ‘positive’ information, such as being registered to vote and having a good history of borrowing and making repayments on time, improves your credit history and suggests to lenders that you are less risky as an applicant for credit.

What looks bad on a credit report?

‘Negative’ information such as those listed below can potentially lower your score:

• Low credit score (potentially because you’ve never borrowed before)
• Late payments
• Mortgage arrears
• Defaults
• CCJs
• Debt management plans
• IVA
• Bankruptcy
• Repossession

For further information about how lenders view your bad credit, see our bad credit page. Alternatively, make an enquiry and we’ll connect you with one of the expert brokers we work with, ensuring they have experience of helping customers with similar financial circumstances.

How often is my credit report updated?

A Checkmyfile credit report isn’t updated in real-time and is only updated with new information once the lender has received it. Most lenders update account information monthly, including changes to your balance, credit limit, and whether you made your most recent repayment on time.

This means that sometimes it can appear that your Checkmyfile account isn’t updating. Some customers notice this when they expect or are aware of a missed payment that they would expect to appear on their record.

As well as this, every credit referencing agency updates its own databases separately. This means it’s common for information to differ, depending on which agency’s data you’re looking at.

Because of this, Checkmyfile provides information from each of the UK’s credit reference agencies to give a better overview of what a lender may see when deciding whether to approve your loan or other type of credit.

Checkmyfile vs other Credit Information Services

Is it free?

If you’ve never used Checkmyfile before, a 30-day free trial is available. This trial will allow you to access your credit report with data from Transunion, Equifax, and Experian.

Start your free trial with Checkmyfile.

If you are trying to improve your credit score and want to track how it increases or decreases over time, overseeing the changes made to your record can be helpful. After your free 30-day trial (which you can cancel at any time) has expired, the Checkmyfile membership costs £14.99 per month.

How to cancel your Checkmyfile account

Checkmyfile can be cancelled at any time by logging into, and managing your account. The steps are outlines here or you can get support by calling 01872 304050 and speaking to a Checkmyfile representative.

Is it worth using Checkmyfile?

Yes! Checkmyfile is a great way to establish whether you have any credit issues that might be flagged up or prevent you from borrowing from a lender.

Checkmyfile can save you time and pull information from multiple reports, so you don’t have to look at each one. This provides a more accurate overview of your credit profile.

In addition, Checkmyfile can help you track how your credit fluctuates over time and how different forms of loans or other credit can affect your overall report.

There are also handy tips and advice on how to build your credit history for various situations, including cases where you may have a low credit score from never borrowing before or because of a big financial setback, such as bankruptcy.

Get a free trial

We work with specialist advisors who have extensive experience with credit reference agencies. In addition to giving you access to a free trial on the Checkmyfile, they can also talk you through how each ‘mark’ on your report can affect how lenders assess you for loans in the future and how you can improve your credit score over time.

Start your free trial with Checkmyfile.

Talk to an expert about your credit score

If you have questions about your credit score, call 0330 818 7026 or make an enquiry.

We’ll match you with one of the expert brokers we work with, ensuring that they have experience helping other customers in situations similar to your own. They will be happy to answer all your questions.

All the experts we work with are whole-of-market mortgage brokers. They can find the right mortgage solution at the best available price, saving you time, hassle, and money.

We’ll make the introduction for free, with absolutely no obligation, and we won’t damage your credit rating.