Which Credit Report Agency Should You Use?

Regularly monitoring your credit record is an important part of controlling your finances. Having a healthy, clean credit history should make applying for finance in the future much more straightforward.

But which is the best credit score company to use? And what’s the difference between the different credit reference agencies? This article will answer these questions and give you a clearer idea of why you need to download your credit reports from all of them.

Which is the best credit report service to use?

Three main credit reference agencies in the UK are Experian, Equifax and TransUnion. Their primary role is to produce credit reports based on information they receive from lenders across the UK about the credit you have/have had in the past and how you’ve managed it.

All three work slightly differently in terms of the maximum credit scores they use. You will have different levels of information to base your credit score on, as not all lenders report the same amount of information to each agency.

Here’s an outline of how it works:

• Experian. Credit score range 0-999 (a score above 961 is considered high/excellent). 
• Equifax. Credit score range 0-1000 (a score above 811 is considered high/excellent). 
• TransUnion. Credit score range 0-710 (a score above 628 is considered high/excellent). 

In effect, you could download your credit reports from all three agencies and get three different credit scores based on the information each one has received from lenders about your credit history.

So, as you can see, choosing one credit reference agency over the others on the assumption that it’s the best will not give you the full picture you need about the fitness of your credit profile.

Why you should use more than one agency

The only sure way to get a complete picture of your credit record is to download your credit reports from all three agencies. That way, you’ll be able to compare and contrast the information held by each other and have a firm understanding of how well you’ve managed your finances.

You’ll also be able to spot any inaccuracies or out-of-date information held and take steps to have it removed. This is where we can help!

Rather than approaching each credit reference agency (CRA) individually, you can use a credit report provider, such as the ones we work with—Checkmyfile and UKCreditRatings. Both can provide a master credit report for you compiled from information held with all three CRAs—for free!

Using their services will be quicker and provide all the details you need to assess your credit history before applying for any new types of finance.

Download your credit reports today

To take advantage of this exclusive offer and get the information you need from all three credit reference agencies, simply click on the button below, select which provider’s offer suits you best and download your credit reports immediately.