--- title: It pays to be aware of your credit history description: An impact on your credit history could be one of the unexpected consequences of recent high-profile data breaches. image: https://blog.shorts.uk.com/hubfs/Stock%20images/Man%20researching%20his%20credit%20rating%20on%20a%20tablet.jpeg --- [![Shorts_logo_White](https://blog.shorts.uk.com/hubfs/New%20Site%202018/Shorts_logo_White.svg "Shorts_logo_White")](https://www.shorts.uk.com/) [Blogs & News](https://blog.shorts.uk.com/) > [Business News](https://blog.shorts.uk.com/topic/business-news) # It pays to be aware of your credit history Jo Grant - 29 January 2019 ###### Select topic - Please Select - [ Audit ](https://blog.shorts.uk.com/topic/audit) [ Business Taxes ](https://blog.shorts.uk.com/topic/business-taxes) [ Radius – R&D Tax Relief & Patent Box ](https://blog.shorts.uk.com/topic/radius-rd-tax-relief-patent-box) [ Corporate Finance ](https://blog.shorts.uk.com/topic/corporate-finance) [ GENUS Management Accounts ](https://blog.shorts.uk.com/topic/genus-management-accounts) [ VAT ](https://blog.shorts.uk.com/topic/vat) [ Private Client ](https://blog.shorts.uk.com/topic/private-client) [ Payroll ](https://blog.shorts.uk.com/topic/payroll) [ EOT ](https://blog.shorts.uk.com/topic/eot) [ International Taxes ](https://blog.shorts.uk.com/topic/international-taxes) ![featured image](https://blog.shorts.uk.com/hubfs/Stock%20images/Man%20researching%20his%20credit%20rating%20on%20a%20tablet.jpeg) High profile data breaches could be affecting your credit history. Hackers are exploiting vulnerability in companies such as Sony and Facebook to access huge amounts of data about customers.  By being aware of your credit history you can find out if your data has been compromised. Being aware of your credit can also help you understand your current credit status, which will be very useful if you are considering applying for a mortgage, loan or credit card.  There are three main credit reference agencies; [**Experian**](https://www.experian.co.uk/), [**Equifax**](https://www.equifax.co.uk/) and [**TransUnion** ](https://www.transunion.com/)they all have a statutory duty to provide consumers with a copy of their credit report, which can be easily provided online. Although there is a significant overlap, the three companies all hold slightly varied data, so it could be worth getting reports from all three.  Lenders use these reports to determine whether or not to grant you credit, and potentially what rate of interest will apply.  **What goes into a credit report** Your credit report will probably go back at least six years and will include:  - A list of all your current and previous credit accounts, including bank accounts, overdrafts, mortgages, store cards and mobile phone contracts.  - Details of all late, or missed payments, including debts that have been accrued   - Records of any county court judgments against you.  - Details of joint financial relationships such as joint mortgage or bank account - Whether you are on the electoral register.  It is worth paying attention to your credit history. Missed payments or unpaid debts will mean you are less likely to get credit, at least at preferential rates. Other elements which affect your ability to get credit are not have a credit history at all or putting in a lot of credit applications within a short space of time.  If you are concerned that you will not be able to apply for credit then do a soft search, this search will inform you which credit companies are likely to accept you because putting in a formal application.  If you believe that the money held by the agencies is incorrect then you can contact them for it to be amended, notes can also be added to your file which could explain the circumstances that led to a missed payment.  The credit reports provided by the CRAs should also show if anyone has tried to apply for credit in your name. If you believe that this has happened to you then it is important that you contact the agencies as soon as possible and notify the relevant financial company that this is a fraudulent application.  Most of these credit reference agencies also offer premium services for a monthly fee, which will alert you to any sudden change in your circumstances. This may be useful if you are concerned about your report or are preparing to make an important credit application.  ![author](https://blog.shorts.uk.com/hubfs/1678438830033-1.jpg) #### Jo Grant Jo is the Senior Marketing Manager at Shorts Chartered Accountants. [View my articles](https://blog.shorts.uk.com/author/jo-grant) Tags: [Business News](https://blog.shorts.uk.com/topic/business-news) Share this on - - - [Questions? Get in touch with us](https://www.shorts.uk.com/contact/) ###### Tax Saving Guide 2026-27 Written especially for entrepreneurs and owner-managed businesses, this guide is full of planning ideas and tax risks to avoid. 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