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A guide to Checkmyfile – the multi-agency credit report

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There are an increasing number of agencies that enable you to check your credit score. However, each agency displays your score in a different format. Some agencies require subscriptions, while others are fee-free, so it can be difficult to know which agency to use.

The Check-my-file credit report is one of the most popular in the market. Therefore we’ve compiled this guide to explain who they are and how they operate.

Who exactly is Checkmyfile?

Checkmyfile claims on its website to provide the most comprehensive online credit report. Despite the fact that we cannot prove this is accurate, based on our experience, we find little reason to deny it. Among their further essential points are:

  • Their report contains data from three separate credit reference agencies*
  • You can cancel your subscription through freephone or online with relative ease.
  • A pledge to never sell your personal data
  • Consistently good ratings on the review website Trustpilot
  • Offers a separate perspective on your Checkmyfile credit score *

Equifax, Experian, and TransUnion (formerly known as Callcredit).

How can I sign in to Checkmyfile?

Your Checkmyfile login access could not be simpler. Visit checkmyfile.com to sign up, or log in.

When signing up, you must provide your credit card details. Checkmyfile is a monthly subscription which, at the time of writing this article, costs £14.99. There is a 30-day trial period, but you can cancel your subscription at any time.

You will also need to provide your name, address and email address and create a password. Once configured, you can log in with your email address, the password you choose during registration, and your date of birth.

What information is on Checkmyfile?

Checkmyfile has access to a range of information about the individual using it, this includes the following:

  • It has a history of any lines of credit that have been taken out. This can be a mortgage, phone contracts and payday loans.
  • Late or missed payments will be shown.
  • Events such as County Court Judgement (CCJs) or if you have declared bankruptcy.
  • If you are registered on the electoral roll, it will show. Individuals sometimes do this to improve their credit score.
  • If your name is linked to any accounts shared with housemates or – partners that have bad credit – this could impact your credit score.
  • If someone has attempted, or has committed identity fraud, one of the credit reference agencies may have flagged this, therefore it will be shown on Checkmyfile.

How do cancel Checkmyfile?

Once your Checkmyfile needs have been satisfied, you may decide to end your membership. This can be accomplished in one of two easy ways:

  1. You can cancel your Checkmyfile account via telephone. To do this call their freephone number from Monday to Friday between 9am and 5pm (excluding bank holidays).
  2. You can also cancel your Checkmyfile subscription online. After logging into your account, select “Expert Help” followed by “I Need Help with My Account.” Select “I would like to cancel my subscription”.

Remember that on your initial application, checkmyfile.com will provide you with a 30-day free trial during which you can see your credit file and credit score. We recommend that you educate yourself by reading their terms and conditions, so you are aware of all relevant policies.

What is a good Checkmyfile credit score?

good credit score is defined differently by various credit reference organisations. Lenders utilise their own internal credit score system, rather than the score provided by a credit reference agency.

However, a good credit score on your Checkmyfile report is favourable when applying for a mortgage. If you have an average or low credit score you can still obtain a mortgage, however, you may need to use a specialised lender.

The higher your Checkmyfile credit score is out of 1000, the better they consider your credit rating to be. For instance, a credit score of 886 out of 1000 is “extremely good”.

Is Checkmyfile cost-effective?

At the time of writing, Checkmyfile’s monthly charge is £14.99. Whether or not this is worthwhile depends on how you want to utilise it. If you are simply accessing your credit file as a one-off, it isn’t worth paying monthly for Checkmyfile. Fortunately, they offer a 30-day free trial that is much more suitable for this.

If you’re looking to monitor your credit history and attempting to enhance your score, having instant access is highly beneficial. Another bonus is that there is no minimum time of use, so you can cancel it at any time. The following are examples of possible applications:

  • Obtaining copies of your credit report from three separate agencies.
  • Checking your record for any discrepancies or differences.
  • Identifying problem accounts and attempting to fix problems.
  • Monitoring your balances.
  • Monitoring your borrowing and credit facilities for a period of six years.
  • Viewing any significant changes, such as when an account is opened or closed, or when a payment is missed.
  • Determining who has performed searches on you over the past two years.

How frequently are Checkmyfile updates?

You will want to ensure that the information on your credit file is accurate and up to date, as it can play a big part in your mortgage application. Most lenders will have their own credit scoring system, however, to aid their decision they use information provided by one or more credit reference organisations.

Most credit reports are updated monthly; however, some information may be updated more often. It is important to note that there’s likely be a difference between what appears on your credit report and what your real balance is. Even if you have recently paid off or decreased what you owe prior to submitting your mortgage application. If in doubt, always assume that it will not be updated on time. List the amount before the payment and inform the lender that it has been repaid or will be repaid.

How to interpret the Checkmyfile report

How to interpret the Checkmyfile report

Checkmyfile credit reports include a variety of different facts and numbers based on information gathered over a six-year period. This can provide a substantial quantity of information for some. Checkmyfile gives this information in the following distinct sections:

  • Payment record and credit rating: A comprehensive summary of your credit history for the past six years.
  • Address and voting status details: A history of your registered address and your position on the electoral roll.
  • Court documents: Check public records for items such as CCJs and Debt Relief Orders. It may also be worth checking for Cifas registrations associated with your address.

After obtaining their report some people may be unsure how the information may impact their mortgage application. If that’s the case for you, feel free to contact us and one of our expert advisers will reach out.

Does Checkmyfile damage my credit score?

The short answer is no. Checkmyfile doesn’t damage or affect your credit score. If anything, having access to the information provided can help improve it over time.

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