Credit reference agencies are used by lenders to access your eligibility for credit - whether it be in the form of a loan, credit card or mortgage.

Credit reference agencies hold information on most adults in the United Kingdom and use it to help lenders assess the risk of lending to you - credit reference agencies also help reduce the risk of fraud.

The information held by credit reference agencies falls into three main categories which are:

• Public record information - this information includes the UK electoral roll which has lists of names and addresses of individuals. They also keep records of county court judgements (CCJs) and those Scottish decrees which have been awarded against those who have defaulted on debts. Credit reference agencies also have records of bankruptcies and administration or repossession orders.
• Credit account information - This information is information which lenders share about borrowers by registering it with credit reference agencies. This information can show if people have kept payments up-to-date in the past and also lets them check what loans if any individuals have outstanding.
• Search information - The file also records any credit checks that you have carried out by lenders - a large number of applications made over a short period of time could be seen as over-stretching yourself, or even fraud.

For more information and to learn more about credit reference agencies try visiting Experian or Call Credit