CheckMyFile Review: What It Costs, and Is It Worth It?
Checkmyfile is a renowned credit scoring report service in the United Kingdom, providing users with detailed and up-to-date credit reports from the four major credit reference agencies (CRAs). With a Trustpilot rating of 4.8 out of 5,
Checkmyfile is highly recommended for those looking to improve their credit score and increase their chances of securing a mortgage or other types of credit.
The reason a multi-agency report is worth paying for at all: lenders do not all use the same agency. A clean Experian file tells you nothing about what a lender checking TransUnion will see, and errors routinely appear on one agency's file and not another's. Seeing all four at once is the only way to know what any given lender is looking at.
Below, the features and the common questions, including "Is Checkmyfile legit?", and provide valuable tips on how to make the most of the service to improve your credit score and financial standing.
At a glance
- What it is
- A UK multi-agency credit report
- Agencies covered
- Experian, Equifax, TransUnion & Crediva
- Free trial
- 30 days, then a monthly subscription
- Search type
- Soft search: no impact on your score
Key Takeaways
- Checkmyfile is a renowned credit report service in the UK, providing detailed reports from the four major credit reference agencies, helping users improve their credit score and increase their chances of securing a mortgage or other credit.
- The service offers comprehensive credit reports by consolidating data from multiple agencies, allowing users to identify discrepancies and areas for improvement.
- With a user-friendly interface and a free 30-day trial, Checkmyfile enables users to navigate their credit reports easily and make informed decisions to enhance their creditworthiness.
- Checkmyfile is a legitimate and trustworthy option, as evidenced by its high Trustpilot rating, making it an excellent choice for individuals looking to understand and improve their credit standing.
What is Checkmyfile?
Checkmyfile is a UK credit report service that brings together your credit information from the four main agencies.
This means you can view all the data that banks and lenders see about you in one place, without needing separate logins.
It simplifies the process of identifying areas for improvement and taking action to boost your credit.
CheckMyFile
- All four agencies: in one report: Experian, Equifax, TransUnion & Crediva
- Spot the errors: and old debts that quietly get applications declined
- It's a soft search: so checking never leaves a mark on your file
- See what lenders see: the same information banks pull when they assess you
Free for 30 days, then £14.99 a month: cancel online anytime. Check the current price before subscribing. We may earn a commission if you sign up, at no extra cost to you.
How Can CheckmyFile Help?
When you apply for a mortgage or any type of credit, the lenders decide if you're a good candidate by looking at your credit history and credit score. Checkmyfile provide you with a thorough report of your credit history, showing you how lenders view your financial stability and whether they consider you a trustworthy borrower.
If you work on improving your credit score, it boosts your chances of getting better mortgage rates and credit terms that work in your favour. For context on how lenders use your score, see our guide on whether there is a minimum credit score for a mortgage.
What Makes Checkmyfile Unique?
Comprehensive Credit Reports
Checkmyfile compiles data from the four major CRAs in the UK: Experian, Equifax, TransUnion, and Crediva. This offers users a complete and up-to-date report of their credit history, making it easier to spot discrepancies and identify areas for improvement.
Multi-Agency Credit Report
Unlike some credit report services that only provide data from a single CRA, Checkmyfile offers a multi-agency credit report. This means you can view and compare credit information from all four CRAs in one place, ensuring a more accurate and comprehensive understanding of your credit standing.
User-Friendly Interface
Checkmyfile's user-friendly interface allows users to easily navigate and understand their credit reports. The platform provides a clear overview of your credit history, with line-by-line comparisons and simple explanations of factors affecting your credit score.
Free 30-Day Trial
Checkmyfile offers a 30-day free trial, allowing users to access and evaluate the service without any financial commitment. After the trial period, a monthly subscription applies (check Checkmyfile's current price before subscribing), and users can cancel at any time.
How to Use Checkmyfile Effectively
To start using Checkmyfile, register for an account by providing your personal information, such as your name, address, and card details. This enables the CRAs to access your credit data and generate an accurate credit report.
Review Your Credit Report
Once you have access to your Checkmyfile account, review your credit report thoroughly to identify any discrepancies or areas for improvement.
Look for late or missed payments, high credit utilisation, and other factors that may be negatively impacting your credit score.
Take Action to Improve Your Credit Score
Based on the information provided in your Checkmyfile report, take the necessary steps to improve your credit score.
This may include disputing errors, paying off outstanding debts, and maintaining a low credit utilisation ratio.
Monitor Your Credit Score Regularly
Keep track of your credit score regularly to ensure that your efforts to improve it are yielding results. Monitoring your credit score also helps you stay informed about any changes in your credit history, enabling you to take timely action if needed.
Seek Expert Advice
If you're struggling to improve your credit score, consider seeking advice from a financial adviser or mortgage broker. They can provide valuable guidance on managing your finances and improving your credit score over time.
Is Checkmyfile Legit?
Yes, Checkmyfile is a legitimate and reliable credit report service that provides users with comprehensive and up-to-date credit reports from all four major CRAs in the UK. With thousands of positive reviews on Trustpilot, Checkmyfile is a trustworthy option for those looking to improve their credit score and increase their chances of securing a mortgage or other types of credit.
Is Checkmyfile a Hard Search?
No, accessing your credit report through Checkmyfile does not constitute a hard search. When you check your credit history on Checkmyfile, it is considered a soft search, which does not impact your credit score or leave a footprint on your credit report.
What is a Good Credit Score on Checkmyfile?
In general, a good credit score is typically considered to be above a certain threshold, such as 700 or 800, depending on the scoring model. Checkmyfile use a credit scoring system of 0-1000.
While specific definitions of a "good" credit score may vary, a higher score on Checkmyfile would generally be viewed as more favourable. However, it's crucial to remember that each individual's situation is unique, and the credit score is just one aspect that influences the overall approval decision for a mortgage or loan.
Related reading
- What is a multi-agency credit report?: why one agency is not enough
- Five ways to build your credit score: what actually moves it
- What is a CCJ?, and the one-month rule that removes it
