Your credit report could be ruining your credit score. Here's how to check.

👋 Hey guys - Noah here,

Today, I'm going to show you how to check your credit report for free. Because if you don't check it, you won't know what's on there until it's too late.

Why your credit report actually matters

Your credit report is like your financial CV.

Every time you apply for something that involves money, companies check it.

Things that require credit checks:

• Renting a flat

• Getting a mortgage

• Phone contracts

• Car finance

• Credit cards

• Store finance (like buying a sofa on payment plans)

• Some jobs (especially in finance)

If your credit report is wrong or has problems you don't know about, you'll get rejected. Or you'll get charged way higher interest rates.

Most people have never checked their credit report. They have no idea what's on there.

The three credit agencies you need to know

In the UK, your credit information is held by three companies:

Experian
Equifax
TransUnion

Here's the important bit: they all hold slightly different information about you.

A loan might show up on Experian but not on TransUnion. An error might only be on one of them.

When a company checks your credit, they might use Experian. Or Equifax. Or TransUnion. You don't get to choose which one they use.

So you need to check all three.

How to check for free

You have a legal right to see your credit report for free. Here's how to get all three:

Experian:
Download the Experian app. It's completely free. You can see your full report and credit score.

Equifax:
Sign up for ClearScore. It's free and gives you access to your Equifax report. No credit card needed.

TransUnion:
Use Money Saving Expert's Credit Club. Free access to your TransUnion report. Or use Credit Karma, which is also free.

Set a reminder to check all three once a year. It takes 20 minutes total.

What you're looking for

When you check your report, look for these mistakes:

Wrong addresses
If your old addresses are listed wrong, some of your accounts might not show up. This can make it look like you have less credit history than you actually do.

Debts that aren't yours
Nearly one in ten people who check their credit report find a debt listed that isn't theirs. This could be an error or identity fraud.

Missed payments you didn't miss
Sometimes companies report payments as late even when they weren't. One missed payment can drop your score by 50-100 points.

Accounts you don't recognise
This could be fraud. If someone's opened an account in your name, it'll show up here.

Joint accounts with an ex
If you're no longer financially linked to someone, you need to remove that link. Otherwise their bad credit affects yours.

How to fix mistakes

If you find an error, here's what to do:

Step 1: Contact the company that reported the wrong information (the bank, phone company, whoever it is).

Step 2: Tell them the information is wrong and ask them to correct it.

Step 3: If they don't fix it, contact the credit reference agency directly and raise a dispute.

They have 28 days to investigate and either fix it or tell you why they think it's correct.

I had to do this with my mobile phone debt. Took three phone calls and two weeks, but they removed it. My credit score jumped by 80 points.

The big things that hurt your credit score

These are the things that will tank your score:

Missing payments
One missed payment stays on your report for six years. Set up direct debits for everything.

Using all your available credit
If you have a £1,000 credit limit and you're always at £950, that's bad. Keep it under 30% if you can.

Applying for loads of credit
Every time you apply for a credit card, loan, or phone contract, it leaves a mark on your report. Too many in a short time looks desperate.

Not being on the electoral roll
This is an easy fix. Register to vote at your address. It proves you live where you say you live.

Having no credit history
Weirdly, having no credit at all makes you look risky. If you've never borrowed money, companies don't know if you can pay it back.

Why this matters when you're young

Most people don't think about credit until they need it.

Then they try to rent a flat, or buy a car, or get a mortgage, and they get rejected.

By then it's too late to fix anything quickly.

If you check your credit report now, you can:

• Fix any errors before they cause problems

• Start building a good credit history

• Know exactly where you stand

It's free. It takes 20 minutes. And it could save you thousands in higher interest rates or stop you getting rejected for things you need.

Check it today. Then check it once a year.

Want to start building real wealth?

A good credit score helps you get better deals on loans and mortgages. But if you really want to build wealth, you need to learn how to make your money work for you.

My friend Samuel Leeds runs free property training that shows you exactly how to build wealth through property investment.

This is how people are going from renting to owning multiple properties.

Check out the free training here

All the best,
Noah