Checkmyfile Explained

Checkmyfile Explained
Home Blog Checkmyfile Explained
Pete Mugleston

Author: Pete Mugleston

Mortgage Advisor, MD

Updated: March 25, 2024


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What is Checkmyfile and are they reliable?

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

  • Experian
  • Callcredit (Now known as TransUnion)
  • Crediva
  • Equifax

This article covers all of the information you need to know about the service.

Read on to find out more information about:

We work with expert mortgage brokers. Call 0808 189 2301 or make an enquiry for a free, no obligation chat about how your credit rating affects the mortgage rates you could get.

Checkmyfile explained

A lot of 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 use various additional sources such as Registry Trust, the Electoral Roll, banks, building societies, telecoms agencies and other credit providers.

Launched in 2000, Checkmyfile are a privately owned company and they don’t sell your data or pass it on for marketing purposes.

Why do we have credit scores?

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

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

If necessary, Checkmyfile can even liaise with the Credit Reference Agencies to help remove any incorrect information on your report.

What is a good score?

First of all, 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 0-100 while another has a credit score range of 0-1000.

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

Therefore, a score that is deemed high with one lender may not guarantee you 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.

The opinions of each lender will differ as some will take into consideration 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 which is 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 a good history of borrowing and making repayments on time improve your credit history and suggest 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:

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 it has been received by the lender. Most lenders update account information monthly which can include 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 are expecting or are aware of a missed payment that they would expect to be appear on their record.

As well as this, every credit referencing agency updates their own databases separately. This means it’s quite 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 credit reference agencies in the UK 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 CRAs

Credit Reference Agency Does it use data from more than one CRA?
Experian χ
ClearScore χ
Crediva χ
Equifax χ
CallCredit χ

Is it free?

If you’ve never used Checkmyfile before, a 30 day free trial is available which will allow you to access your credit report with data from Callcredit, Crediva, 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, it can be helpful to oversee the changes made to your record. After your free 30-day trial (which you can cancel any time) has expired, Checkmyfile membership costs £14.99 per month.

How to cancel your Checkmyfile account

Checkmyfile can be cancelled at any time by following the below steps.

  • Log in to your Credit Report
  • Click on ‘Expert Help’ and then ‘I need help with my account’
  • Select ‘I’d like to stop my subscription’

Alternatively you can call 0800 086 9360 to speak to an 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 will pull information from multiple reports, so you don’t have to look at each one. This provides you will a more accurate overview of your credit profile.

As well as this, Checkmyfile can help you track how your credit fluctuates overtime 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 you credit history for various different 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. As well as 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 overtime.

Start your free trial with Checkmyfile.

Talk to an expert about your credit score

If you have questions about your credit score call 0808 189 2301 or make an enquiry.

We’ll match you with one of the expert brokers we work with, ensuring that they have experience in helping other customers in similar situations 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 will be able to find the right mortgage solution at the best available price, saving you time, hassle and money.

We’ll make the introduction for free, there’s absolutely no obligation and we won’t leave a mark on your credit rating.

Maximise your chances of approval, whatever your situation - Find your perfect mortgage broker

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