What is a credit report?

What is a credit report

A credit report is a factual record of your personal credit history, made up of information from different sources like banks, building societies, local authorities, and courts. If you are over 18 years old and have a bank account or have taken out a loan, credit card or mobile phone contract, then you will probably have a credit report. Credit reports are used for many reasons such as responsible lending, anti-money laundering, and fraud prevention. It is important to check your credit report regularly to keep an eye on financial health.

What information does my credit report provide

The credit report includes your financial history and relevant public information as per the below:

Financial Account information such as Credit Cards, Loans, Mortgages etc. for the last 6 years, showing both open and closed accounts.
Details of searches made against your credit report over the past 2 years. Searches are footprints left by organisations who have requested to see a copy of a customer’s credit report from a Credit Reference Agency.
Financial connections to any address or other names you have been known by – this also includes names of other people with whom you have a financial connection with, such as a joint mortgage.
Electoral registration status.
Legal court details concerning settlements of money which have been registered against you, such as any judgments, insolvencies, or bankruptcies.
CIFAs markers, if the you have taken out Protective Registration with CIFAs, or you been registered as a victim of fraud (CIFAs is the UK’s fraud prevention service).
Any Notices of Correction (NOC) statement that you have added to your credit report to explain information on the report.

Why are some financial accounts missing from my credit report

Some types of financial accounts, and some circumstances for financial accounts, mean that they will not show on your credit report. These are:

Savings accounts or current accounts without an overdraft.
Financial accounts older than 15 years.
An account that you have recently opened.

Will the credit report show you’ve been declined for credit

No. If an organisation performs a credit search, a record shows on the report that the search occurred, but it won’t show whether an application was accepted or rejected.

What if theres incorrect information on my credit report

If you feel any of the information displayed in the credit report which is provided by TransUnion is incorrect, you can raise a dispute directly with TransUnion through the dispute process within the credit report section in the app.

TransUnion will then provide you with a unique dispute number and where needed may ask for any additional information to support the dispute. As credit report is provided by TransUnion, all disputes raised against credit report are processed by TransUnion. Royal Bank of Scotland is not involved in this process.

What is a search on my credit report

A search is a footprint left behind by anyone who has requested to see a copy of your credit report from a UK Credit Reference Agency (CRA); You will see searches made against your TransUnion credit report through this service.

A search on a credit report will confirm:

Which organisation performed the search?
What personal information was used to search?
When the search was made.
Why was the search done?

I do not recognise a search on my credit report what should I do

If you see a search on the credit report that you don’t recognise, it may be from an organisation that is part of a wider business group or umbrella organisation operating under a different name.

If that is not the case, then you can raise a dispute directly with TransUnion through the dispute process within the credit report section in the app. TransUnion will then provide you with a unique dispute number and where needed may ask for any additional information to support the dispute. As credit report is provided by TransUnion, all disputes raised against credit report are processed by TransUnion. Royal Bank of Scotland is not involved in this process.

What if I would like to cancel a dispute about my credit report

To cancel a dispute, you should contact TransUnion directly using your dispute reference number. Just a heads up: they can’t cancel once it’s resolved.

What are Corrections on my credit report

A Notice of Correction (NOC) is a short statement you can add to your credit report for the attention of anyone who performs a search against you. It is used to explain extenuating circumstances behind the information shown. Reasons for adding a NOC can include explaining why you may have missed payments on an account or why you may not have a current electoral register record on your report. Follow the instructions on the mobile app to add, amend, or remove a Notice of Correction from the credit report. Alternatively, you can write to TransUnion at:

TransUnion Consumer Services Team, PO BOX 647, Unit 4, HULL, HU9 9QZ

What is a financial associate on my credit report

A financial associate is the name of an individual you have, or have had, a financial connection with. They appear on your credit report until you request to be disassociated. Individuals can remove a financial association from their credit report by raising a dispute directly with TransUnion through the dispute process within the credit report section in the app.

TransUnion will then provide you with a unique dispute number and may ask for additional information to support the dispute. As credit report data is provided by TransUnion, all disputes raised against the credit report are processed by TransUnion. Royal Bank of Scotland is not involved in this process.

What happens after I have raised a dispute about my credit report

Before changing your report, TransUnion must check information with the organisation that provided it. They may also ask you for more details. You will get an email from TransUnion regarding the outcome within 28 days after you have raised a dispute. The dispute status will also appear on in the Disputes section of the mobile app.

What if TransUnion dont get an answer in 28 days for a dispute

If the organisation that provided the information doesn’t reply, TransUnion might hide or remove it until they hear back. However, they may not remove it if other details in your report prove it's right, or if they need some supporting evidence.

Why is the disputed information still on my credit report

If TransUnion finds the information correct, it will stay on their report. It may also stay if you can't give them supporting evidence within 28 days.

Didn't find what you were looking for?

Explore support centre topics

What is a credit report?