How to check, amend and repair your credit record

When was the last time you checked your credit history? This vitally important information can seriously affect many aspects of your financial life, from your ability to get a smartphone contract to obtaining a mortgage.

Every time you apply to borrow money, the lender will run a search on you to try and determine how likely it is that you’ll be able to repay them. This information is held by credit reporting companies including Experian, Equifax and CallCredit in the form of a credit report.

The report is a summary of credit accounts you’ve had during the past six years and can include details of any credit cards, loans, mortgages, overdrafts, phone contracts and utilities such as gas, electricity and water. It will show your total debts and how much of your available credit you’re using as well as any instances of late or missed payments and county court judgements (CCJs). Your report also tracks the home addresses you have given and whether you’re on the Electoral Register.