The better you understand your credit report, the better equipped you'll be to spot potential problems. So let’s take a closer look at the different forms of credit you might find on your credit report. And remember, if you find any mistakes, you should always contact the relevant CRA right away.
These will probably form the lion's share of your credit data, and generally fall into two categories:
This means a loan secured against something. Usually a mortgage (secured against your home).
Telecoms refers to your mobile phone contract. Because your monthly payments cover the cost of handset over the length of your contract, this is a form of credit.
Utilities often get their own section in your credit report. It counts as credit because you're paying in arrears (the service has already been provided by the time you pay for it).
Any loan that gets paid back in (normally) six months or less. These often get their own section too.
All this data is available to any potential lender when they perform a credit check on you.
Checking your credit reports
When it comes to your financial health, your credit score is really important. So checking your credit reports is a good place to start when seeking to improve your financial health.
Making yourself visible to the system
If you haven't managed to find your credit report, you might be 'invisible' to the system for some reason, meaning one or more CRA can't find you.