How to check your credit score
At Ultracar we work with people who have a bad or poor credit score, offering affordable leasing to those who may have been declined by mainstream leasing companies. But how do you know what your credit score is?
In the UK we have 3 main credit agencies they are Experian, Call Credit and Equifax all of these have a record of your financial history or credit rating.
You can get a copy of your credit file online by visiting any of the above agencies websites, the cost of which is around £2. If you are unable or do not wish to apply on line you can also make a request by post.
There are other agencies out there which offer free access to your credit reports such as Noddle, also some banks and credit card providers offer free access to their credit report - so it is worth checking with your bank.
Whats the difference between paid and free credit reports?
Its all about the detail, a free credit report will give you very basic information on your credit history, whereas a paid report from one of the main agencies will give you full details. Furthermore if you pay a monthly fee they will also alert you to any unusual activity - for example if someone is using your credit name for financial applications.
In a detailed report you will be able to see dates and amounts, so it is easy to see, if your credit score is not as you thought it should be, where you have perhaps been late with a payment, or missed a payment. If you do see inaccurate information, such as a missed payment when you know that the payment was not missed, you can contact the company.
Once you have been able to prove the inaccuracy then the company should amend their records.
What is a soft search?
A soft search is a way of checking if you will be accepted for credit by a financial organisation, without it effecting your credit score. Whenever you apply for credit, that organisation will do a full check on you and this can damage your credit score.
At Ultracar we will do a credit check on you once our underwriters are happy with any supporting information you have provided, this however is to check your identity and traceability - we already know your credit score is low that’s why you have come to us.
We are here to help you, not to judge you!