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A credit report is a document that outlines the financial reliability of an individual or a business. It includes information such as payment history, outstanding debts, bankruptcies, and overall creditworthiness. The main purpose of a credit report is to assess the risk of late or non-payment before entering into a financial agreement.
In this article, you’ll learn why to request a credit report, what it includes, and how to obtain one easily.
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Requesting a credit report is a smart way to reduce financial risk for your organisation. When dealing with new customers or suppliers, it’s important to be confident they can meet their payment obligations. Reviewing a credit report in advance helps avoid unpleasant surprises.
For existing clients, it’s also worthwhile to request updated credit information from time to time — especially when payment behaviour changes or when larger contracts are involved.
For individuals, a credit report is commonly used to assess creditworthiness before taking out a loan or applying for a tenancy. In such cases, the report usually contains information on personal loans, credit limits, and any missed payments.
A credit report is made up of several key elements that together provide a complete overview of a person’s or business’s financial situation. These typically include:
You can easily request a credit report online through specialised agencies such as GraydonCreditsafe. These providers offer detailed reports that include payment behaviour, outstanding debts and risk scores. In most cases, you only need the business name or company number (as registered with Companies House).
For individuals in the UK, a free credit report can be obtained once a year from agencies like Experian, Equifax or TransUnion, often through MoneyHelper. This annual credit report offers access to your credit data without affecting your score.
A credit information report provides insight into the financial reliability of an individual or business. It includes details on debts, repayment history, credit limits, bankruptcies and more. Businesses use this data to assess financial risk before extending credit or entering into agreements.
Yes. In the UK, you’re entitled to view your free credit report once per year through each of the main credit reference agencies. You can do this via services like MoneyHelper or directly through providers such as Experian or Equifax.
Yes. Every UK resident who has credit activity (e.g., a loan, credit card, or mobile phone contract) has a credit score, calculated by agencies such as Experian or TransUnion. This score indicates how likely you are to repay future debt.
You can check for any negative entries — such as missed payments, defaults or CCJs — by reviewing your annual credit report. These entries are usually flagged under adverse or negative indicators.
To improve your score:
Good financial habits over time are the most effective way to raise your credit score.
