What is my credit rating?

A credit rating is a score based on your financial history, designed to help lenders to lend responsibly and profitably.

A credit rating is one of those invisible factors that can actually play a significant role in your life. Not only can a poor credit rating exclude you from offers, products and services, it could affect your ability to open a bank account, get certain employment or even get a roof over your head.

Some people know they have a poor credit rating and know why. Over-extended borrowings that were not repaid, difficulties with repaying mortgages or simply administrative misunderstandings.

But if you have none of this in your past, why would you want to see and monitor your credit rating?

Why check my credit rating?

People often ask, “Why should I check my credit rating?” Here are a few reasons:

  • Your credit report is updated regularly and this can affect your credit rating. Monitoring means you can deal with problems before they become a barrier to your ability to get credit
  • ID fraud is becoming increasingly common. Credit monitoring will alert you to any fraudulent activity occurring in your name. If you become a victim of identity fraud the Identity Fraud Expenses Insurance provided to you as a CreditExpert member can protect you against expenses that you may incur as a result
  • If you have had some indiscretions in your past, monitoring enables you to see when your credit rating has recovered

How do I check my credit rating?

An Experian credit check will help you keep track of your credit-rating. Experian is the UK's largest credit reference agency and offers a service that allows you to monitor your credit rating.

Get your 30-day trial of Experian CreditExpert, the leading monitoring service, and get unlimited access to your report and score.

Insurance Features

We arrange Identity Fraud Expenses Insurance, provided by Arc, underwritten by Inter Partner Assistance S.A., which covers you for:

  • An upfront payment of £50 to you if you become a proven Victim of Fraud
  • Reasonable costs incurred relating to the sending of correspondence and telephone calls as a result of identity fraud.
  • Reasonable lost earnings incurred of up to £500 per week for a maximum period of six weeks as a result of identity fraud.
  • Up to £200 for the costs of replacing your passport or driving licence should you have a reasonable requirement to replace either of them as a result of identity fraud.
  • Access to the Victims of Fraud Team who will help you should you become a victim of identity fraud.
  • The insurance makes up £6.40 out of your £14.99 per month membership fee - if you decide to continue membership after your 30 Day trial
  • You should check whether you already have insurance for some of the risks covered under this insurance policy
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