What is credit monitoring?

Ever been taken by surprise and turned down for credit? Have you read about the growth of identity fraud and do you worry about becoming a potential victim? With the new CreditExpert Monitoring Service from Experian, the UK’s largest credit reference agency, you needn’t worry again. You can now keep track of your personal credit information and be informed when key information on your credit report changes.

CreditExpert is a subscriber service, which gives you more control over your credit information and also helps you protect yourself against the growing threat of ID fraud. It provides you with unlimited online access to your personal credit report and alerts you when activity has taken place on your credit report.

Weekly alerts are sent to personal email addresses or via SMS text. As soon as an alert is received, you can link to www.creditexpert.co.uk, where you have unlimited access to your full and up-to-date personal credit report, to see what changes have taken place. If the activity is not legitimate or is inaccurate, e.g. someone has applied for a loan in your name or the lender has provided incorrect information to the credit reference agency, there are tools and resources available to help you take appropriate actions to stop further problems. If the activity is legitimate, you have the peace of mind of knowing that your valuable personal credit data is sound.

CreditExpert is the first and only service in the UK to provide you with unlimited online access to your full credit history, which is even more than a lender would see. With CreditExpert, reports will include information such as loans, loan terms and repayment history, plus the source of that information. In addition, you will be able to see the public information that forms part of your credit report.

CreditExpert offers consumers a 30-day free trial of its new credit monitoring service, which also includes a free personal credit report. In addition, the service comes with a 90-day money back guarantee, an online quarterly newsletter with topical articles and features on personal finance issues, access to useful tools and calculators to help you with personal finance decisions and numerous online resources to address potential credit queries.

Click here for a free 30-day trial and a free copy of your credit report

Get your credit report - free

Ever wondered why you’ve been turned down for a new purchase or a loan? Credit ratings seem to be a mystery to most people, as many don’t know their rights, how lenders make their decisions, how credit scores are calculated and how they can be challenged and improved.

The contents of your personal credit report can have a bearing on whether or not you are given credit. Factors other than the information held on a credit report may contribute to a lending decision as well (such as the information you provide on your application form), but your credit report is important.

You have the right to view the information contained in your credit report to make sure it is accurate. If errors are found, you are entitled to apply to have them corrected. Having the ability to view and challenge your credit report is important, as; in addition to providing the basis for a lending decision, your credit rating may also affect the interest rate you are offered by lenders, which could lead to more costly borrowing.

Credit reports are compiled by credit reference agencies using information from two main sources:

1) The Public Record: e.g. electoral roll information, court judgments, individual voluntary arrangements and bankruptcies.

2) Information provided by lenders and financial institutions: e.g. credit accounts, credit applications and financial associations.

When you apply for a loan, the lender will typically contact a credit reference agency to check the information on your credit report, in order to help them calculate your potential creditworthiness and risk. These calculations are done by the lender and may vary between lenders. It is important to note that the credit reference agency does not offer any comment or advice and does not know how the information a lender has seen will affect the lending decision.

To view your personal credit information that lenders are currently basing their credit decisions on, apply now for a free online credit report from Experian, the UK’s largest credit reference agency. You will also receive a 30-day free trial to the CreditExpert Monitoring Service from Experian.

Click here for a free 30-day trial and a free copy of your credit report