Obtain your Checkmyfile Credit Report by clicking below..

What is Checkmyfile?

Checkmyfile is a credit report that offers a platform for individuals to access their credit data and scores from multiple credit agencies.

Checkmyfile stands out by providing a consolidated report that includes data from the four main credit reference agencies; Equifax, Experian, TransUnion, and Crediva.

This is important, as in many cases each credit reference agency will show different data to one another. 

For example, a missed payment may show with Experian, but not with the other 3 credit reference agencies, and vice versa.

At its core, Checkmyfile serves as a powerful tool for individuals seeking a detailed understanding of their credit history and financial standing.

This can be invaluable when applying for any form of credit, in particular Mortgages.

Why use Checkmyfile?

Mortgage Advisors such as ourselves recommend Checkmyfile for its unrivalled ability to provide a complete view of a person’s credit history.

As discussed above, unlike other credit reference agencies, Checkmyfile stands out by taking data from the four main credit agencies – Equifax, Experian, TransUnion, and Crediva – implementing this into a single comprehensive Credit Report.

How Checkmyfile can help people:

1. Comprehensive Credit Report: Checkmyfile’s unique selling point lies in its ability to compile information from multiple credit agencies into a single report. This consolidated report offers users a more detailed view of their credit history, including factors such as payment history, credit utilisation, dormant accounts, credit enquiries, and more.

2. Monitoring: Checkmyfile’s credit monitoring feature alerts users to any updates or changes in their credit reports, providing timely notifications regarding new enquiries, account openings, or other alterations that could impact their credit profiles.

3. Insightful Analysis and Recommendations: Checkmyfile provides in-depth analysis and insights into the factors influencing credit scores. This information assists users in understanding the components affecting their creditworthiness, allowing them to take proactive steps to improve their credit profiles.

4. Identifying Errors or Fraudulent Activity: Checking credit reports regularly via Checkmyfile enables borrowers to spot errors or fraudulent activity, such as unauthorised credit inquiries or accounts opened in their name. Resolving such issues promptly is crucial, especially before applying for a mortgage.

5. Assists Mortgage Advisors: Having a copy of your Credit Report to hand when you first contact a Mortgage Advisor will also make the process of them recommending and applying for a Mortgage on your behalf so much quicker.

How is my Checkmyfile Credit Score calculated?

Your Checkmyfile credit score is derived from the data provided by the four credit reference agencies mentioned above.

Each credit reference agency has its own scoring algorithm.

For instance, a credit score from Equifax will differ from the one provided by Experian due to variations in the data they consider and the scoring models they use.

The factors that contribute to a credit score generally include:

1. Payment history: Timely payments on credit accounts and bills.

2. Credit utilisation: The amount of credit being used compared to the total available credit.

3. Length of credit history: The duration for which accounts have been open.

4. Credit mix: The variety of credit accounts (e.g., credit cards, loans).

5. New credit: Recent credit inquiries and accounts opened.

It’s important to note that lenders tend to use their own scoring models and consider additional factors beyond the credit score when making lending decisions.

Therefore it’s essential for individuals to maintain accurate and positive credit behaviours across their accounts to ensure they have every chance of being accepted for a Mortgage or any other line of credit.

Does using Checkmyfile affect my Credit Score?

No, using Checkmyfile to access your credit report and credit scores does not directly impact your credit score.

When you access your credit report through Checkmyfile or any similar service, it’s considered a “soft enquiry” and leaves a “soft footprint.”

Soft enquiries, such as checking your own credit report, do not affect your credit score. They are only visible to you and do not impact your creditworthiness in the eyes of lenders.

However, it’s important to distinguish between soft enquiries and “hard enquiries.”

Hard enquiries occur when a lender or creditor checks your credit report as part of a credit application process, such as applying for a loan or credit card.

These enquiries can have a minor and temporary impact on your credit score, typically causing a small decrease that usually recovers quickly.

When is Checkmyfile updated?

The frequency of updates can vary based on when the credit reference agencies themselves update their data.

Typically, the information within your credit report is not updated in real-time but rather at periodic intervals.

The frequency of updates depends on when the lenders and other entities that report information to the credit agencies supply new data.

Usually, credit reference agencies receive updates from providers, such as banks, credit card companies, and utility providers, on a monthly basis.

This means that changes in your credit accounts, payments, balances, and other relevant information may be reflected in your credit report after the respective lenders or providers report this information to the credit agencies.

How much does Checkmyfile cost?

Checkmyfile provides a 30 day free trial in which you can obtain your credit report and use their online services.

If you do not cancel your Checkmyfile subscription within the 30 days, you will start to be billed £14.99 per month.

If you are just obtaining your Checkmyfile Credit Report for a Mortgage, you will be able to sign up, download/email a copy of your Credit Report and then cancel straight away if you wish.

How to obtain your Checkmyfile Credit Report?

You can obtain your Checkmyfile Credit Report by clicking here below

How to cancel Checkmyfile?

Here’s a step-by-step guide on how to cancel a Checkmyfile subscription:

1. Log into Your Checkmyfile Account: Access your Checkmyfile account using your login credentials.

2. Subscription Settings: Navigate to the subscription settings or account settings within your Checkmyfile dashboard. Look for an option related to subscription management or cancellation.

3. Cancellation Process: Follow the on-screen instructions provided by Checkmyfile to initiate the cancellation process. This might involve confirming the cancellation request and providing a reason for cancellation.

4. Confirmation Email or Notification: After submitting the cancellation request, Checkmyfile typically sends a confirmation email or notification to acknowledge the cancellation. Keep this confirmation for your records.