Finance Glossary
Credit File
A detailed record held by credit reference agencies that documents your entire credit history, including all accounts, payment history, missed payments, defaults, CCJs, and previous applications for credit. Lenders use your credit file to assess risk when you apply for credit. You are legally entitled to access your own credit file, and under UK law you can dispute inaccurate information.
Example
Your credit file will show that you missed a credit card payment in March 2023 — this entry stays for six years from the date it was recorded.
Related terms
Credit Score
A numerical rating assigned by credit reference agencies tha…
Credit Reference Agency
An organisation that collects and maintains credit data on i…
Hard Search
A full credit check that leaves a visible footprint on your …
Soft Search
A type of credit check that does not leave a visible mark on…
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