What is Checkmyfile?

Checkmyfile is a credit report service that allows individuals to access their credit information from major credit reference agencies. It provides a comprehensive overview of your credit history, enabling you to understand your financial standing better.

What is Checkmyfile for?

Checkmyfile is designed to help you monitor and manage your credit profile. By regularly checking your credit report, you can identify any errors or discrepancies that may negatively impact your credit score. Additionally, it can assist you in making informed financial decisions, such as applying for loans, mortgages, or credit cards.

How to use Checkmyfile

Using Checkmyfile is straightforward. Simply visit their website, create an account, and follow the prompts to access your credit report. You can choose to view your report from one or multiple credit reference agencies, depending on your requirements.

How does Checkmyfile work out my credit score?

Checkmyfile utilises the information provided by credit reference agencies to calculate your credit score. This score is based on various factors, including your payment history, outstanding debts, credit utilisation, and credit age. The higher your score, the more favourably you are viewed by lenders.

Does using Checkmyfile affect your credit score?

No, using Checkmyfile does not directly impact your credit score. When you access your credit report through Checkmyfile, it is considered a soft credit search, which does not affect your credit rating.

What is a soft credit search?

A soft credit search is an inquiry that does not leave a footprint on your credit report. It is typically performed when you check your credit report or when companies verify your identity. Soft credit searches are visible only to you and do not affect your credit score.

What is a hard credit search?

A hard credit search, also known as a hard credit inquiry, is conducted when you apply for credit, such as a loan, credit card, or mortgage. Hard credit searches are recorded on your credit report and can temporarily lower your credit score.

How often is your credit score updated?

Credit reference agencies typically update credit scores on a monthly basis. However, the frequency may vary depending on the agency and the information they receive from lenders and creditors.

Remember, maintaining a good credit score is essential for accessing financial products and services on favourable terms. By regularly monitoring your credit report with Checkmyfile, you can take proactive steps to improve your credit profile and financial well-being.