7/29/2023 0 Comments Free credit report![]() The charge under the statutory scheme for consumers to access their credit report is £2. This is a welcome initiative in the battle against fraud and the elimination of faulty data.’ġ) Consumers have a statutory right to access a copy of their credit report under the terms of the Consumer Credit Act 1974. ‘This should provide a quicker and more convenient access for consumers to their credit file, and could encourage more people to check their file more regularly. Peter Vicary-Smith, Which? Chief Executive said: Previously, statutory credit reports for £2 were only available by post, which could take seven days to arrive. It is important as the information held on their credit reports may affect their ability to access further credit or get the best deals in the future. These significant improvements will help consumers take better control of their finances.”Ĭredit reports allow consumers to monitor their financial commitments by viewing, for example, what credit commitments they have outstanding and any late payments they have made. All consumers now have easier access to their £2 statutory credit reports, with victims of ID fraud and the financially vulnerable receiving free access to their reports. Continued free access to credit reports for victims of ID fraud and the financially vulnerable has also been secured by the government.Ĭredit reference agencies and consumer groups have committed to work together to raise awareness of the importance of checking credit records. An agreement between the Department for Business, Innovation and Skills and the industry means consumers will now have easier access to their credit reports.
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