What is Checkmyfile?
Checkmyfile is the UK’s only multi-agency credit reporting service, which uses data from four main credit reference agencies (including Equifax, Experian, TransUnion and Crediva) to provide its customers with an in-depth and free credit report.
As a new customer, you’re eligible to sign up to the Checkmyfile 30-day free trial, and it costs £14.99 a month thereafter. You’re able to cancel your membership anytime hassle-free, but we’ll go into that in some more detail in due course.
Checkmyfile claims that it provides the most detailed online credit report in the UK and it’s the highest rated competitor in the market on Trust Pilot, but how? Here, we provide you with an extensive Checkmyfile review, explaining its services and why you should consider getting your free credit report today.
What Does a Credit Report Show?
A credit history is a record of a person’s repayment of debts and their financial activities over the years. A credit report, however, includes information regarding a person’s credit history from banks, credit card companies, and government organisations. Your credit report essentially provides you with an insight into how well you manage your finances.
Lenders use the information in a credit report to determine your eligibility for loans, mortgages, and credit cards, so when you look at your own report, you’ll get an idea of how you are viewed in the eyes of lenders and whether you need to improve your credit score or not.
Checkmyfile UK Credit Score and Report - how to join
Signing up to join and receive your Checkmyfile credit score is easily done and we found that everything was explained clearly and honestly. For instance, there’s no attempt to hide the fact that the free membership will end after 30 days and will cost £14.99 per month from then on – Checkmyfile explicitly states this right from the beginning, unlike some credit reporting websites who aren’t so up-front.
The sign-up form is straightforward; you’re asked to provide the standard information required by credit checking services to confirm your identity, but no more. When you’re completing the first sign-up page, you are able to avoid receiving communications regarding news and offers by leaving the final tick-box empty.
You are asked to provide your credit card details, which may leave some people feeling uneasy, but Checkmyfile reassures you that it is only used to confirm your identity and you will not be charged when you sign-up. However, you will be charged if you don’t cancel your Checkmyfile account by the end of the 30-day free trial, but you should receive a reminder notifying you that the free period is coming to an end beforehand.
Signing up gives you access to your Checkmyfile credit score, your full report with data from various credit reference agencies, information about your financial associations and more.
Checkmyfile’s Free Credit Report
When you become a Checkmyfile member, you’ll get access to a wide range of benefits. Firstly, and most importantly, you’ll be able to view and compare what information is held about you by each credit reference agency (CRA), including Equifax, Experian,TransUnion and Crediva. This is unique to Checkmyfile and is laid out to enable you to compare and manage what is included in each report, all in one place.
For example, it’ll tell you which accounts are listed with each CRA, as shown below:
You’re able to see what information each CRA holds for you and check whether that information is correct or not, such as your personal details and any credit agreements you have.
Usefully, the Checkmyfile timeline provides you with a visual way of monitoring your credit quickly, allowing you to see how your credit has changed (positively or negatively) over the last six years.
Another feature that Checkyfile includes is the option of personalising your accounts, which isn’t offered by many credit checking websites. For example, if you have two accounts with the same bank (a joint current account and a personal one), you’re able to change the name of the provider on your report and therefore distinguish the two without any hassle.
As well as being able to personalise your information, you can also use Checkmyfile’s online tool to remove people that are inaccurately listed as financial associates by any of the CRAs, whether it be Experian, Equifax or TransUnion. Professional ‘credit analysts’ will guide you through this procedure, guiding you through the process step-by-step.
The Checkmyfile credit score is generated by using information from various CRAs, which is essentially what lenders do when deciding whether to accept you for credit. When you apply for the best credit cards, loans or mortgages, lenders will use a system that calculates your credit score based on information from several reports.
So, by using Check my file and viewing how your credit history is recorded by Experian, Equifax, TransUnion and Crediva, you get the best insight into how your credit is viewed in the eyes of lenders when applying for credit. You can therefore determine the areas you should work on in order to improve your credit score if needs be.
Checkmyfile gives its users an idea of what is affecting their credit scores, both positively and negatively, though this feature is not as in-depth as that offered by some others. There are also tips available on the site, which can help you improve your score and resolve any credit score issues that you may encounter.
Additionally, your Checkmyfile credit report includes electoral roll information, identity fraud checks, and any court records under your name.
What is a Good Checkmyfile Credit Score?
Each UK credit reference agency uses different factors to calculate your score and their scoring bands vary from one to another, so there’s no such thing as a ‘universal’ credit score. Their maximum scores are listed below:
- Experian: 999
- Equifax: 700
- TransUnion (Noddle/Credit Karma): 710
- Checkmyfile: 1000
The closer you are to the maximum score, the better your chances are of being accepted for credit cards, loans and mortgages. Your credit score is likely to vary between each CRA, and you may even be categorised as ‘Good’ by one, and ‘Poor’ by another, because they assess differing financial factors when drawing up your credit report.
The best way of gathering a general idea of your credit is to look at as many free credit reports as possible, and Checkmyfile is one of the most efficient ways of doing so.
Does Checkmyfile affect your credit score?
No. It is clearly stated on the Checkmyfile website that checking your credit report with them will not lower your credit score.
When checking your score online yourself with Checkmyfile, it is called an audit search, more commonly known as a soft search, which means that it will not impact your credit score.
Checkmyfile App and Website
The Checkmyfile website is accessible, straightforward, and well designed. It is not as text-heavy as some other sites, but offers a brief overview of the services offered by the company as you scroll down the page. Not only is it easy on the eye, but its functionality is also just as impressive.
However, there seems to be no Checkmyfile app yet (May 2019), which is a slight issue seeing as there’s an app for Experian, ClearScore, Noddle, CreditWise and just about every other credit reporting company available in the UK.
How to Cancel Checkmyfile
If you no longer need to use its services and want to cancel Checkmyfile, it’s easily done. You can cancel online or via telephone (0800 086 9360), and you’re not made to feel like an inconvenience when you do. In fact, the customer service team are friendly and you receive a personal ‘thank you’ email, which is a nice touch and encourages users to return if ever they need credit report services in the future.
To cancel Checkmyfile online, users can send a message via the website or an email, which is probably quicker than any other method of cancelling.
Click on ‘Expert Help’ at the top of the page if you’re on desktop, or you can find it by tapping the Menu tab in the top right-hand corner on mobile, and you’ll see ‘Create Message’. Click the dropdown menu and choose the appropriate phrase to cancel your subscription and it’ll keep a note of when you cancelled, which you’ll always be able to see when you log in. It’s as easy as that!
Checkmyfile Reviews - is it the best credit reference agency?
Here’s how Checkmyfile ranked on the best customer review websites in the UK:
- Trustpilot: 5/5
- Smart Money People: 3/5*
- Review Centre: 4/5
- Overall: 12/15
*The score from Smart Money People is based on just one review and is therefore not as telling as the other two, with Trustpilot and Review Centre taking 507 and 67 reviews into account respectively.
Overall, Checkmyfile is reviewed very positively by consumers and the company is visibly proud to be the leading competitor in the market on Trustpilot.
In Bobatoo's opinion, Checkmyfile is definitely one of the best credit reference agencies out there, as it is the first site that lets you receive a more detailed report with information from the top four CRA's in the UK.
Read Bobatoo's guide The Best Credit Reference Agencies in the UK for more detail.
Checkmyfile Review Summary
Checkmyfile is unique in the way in which it enables its users to compare their credit record from a variety of credit reference agencies, all in one place. This is one of the best insights you can get into how you are viewed from the perspective of lenders, as you are able to see information held on you by Experian, Equifax and TransUnion.
How much does Checkmyfile cost?
With the option of a no-obligation free trial, you are able to use Checkmyfile’s services at no cost, as long as you cancel before the end of the 30-day trial.
It has been well reviewed on all consumer review websites, including the well-renowned Trustpilot, which only reiterates the positive experience that we had when using Checkmyfile.
For any further information, get in touch with Checkmyfile by calling their contact number 0800 086 9360. Or to simply get your free credit score, visit them online by tapping the green button below: