Credit Files & Scores
What lenders really see when you apply, and how to keep it accurate.
Soft vs Hard Searches
Checking Your File
Fixing MistakesWhenever you ask to borrow, a lender looks at the record of how you have handled credit in the past. That record is your credit file, and it matters far more than the score an app shows you. A few minutes spent understanding it, and checking it, can be the difference between an offer and a refusal.
Your File vs Your Score
The facts
Credit file
The detailed record a credit reference agency keeps about you: your accounts, balances, payment history, any court judgments, and who has searched your file.
Lenders see it. This is what they actually assess.
An opinion
Credit score
A number each agency works out from your file to give you a rough idea of how lenders may view you. Each agency uses its own scale, so your three scores never match.
Lenders don't use it. They apply their own scoring to the information in your file.
The Three Credit Reference Agencies
There are three main credit reference agencies in the UK. Not every lender reports to all three, so the information each holds about you can differ slightly.
Lenders on the Quick Loans panel use a mixture of all three, which is why it is worth checking your file with each agency rather than just one.