Four in ten people are surprised by the information held on their credit report, according to new research.
A report by MyCallcredit found that nine out of ten people would recommend a credit check to their friends.
Credit checks are useful to find out why you have been refused credit or to check that no identity fraud has taken place under your name.
The report found that 30 per cent of those that requested a report of their credit history had been turned down for credit, while 3.2 per cent would do so if they split from their partner and 9.7 per cent would check before they moved home.
MyCallcredit director, Alison Nicholson, said: “It does make sense for people who are buying a house or shopping around for a credit card to know what the lenders will see about them when they apply for credit.
“It also empowers the individual, if they’re a good credit risk there’s no reason why they should accept anything but the best deals.”
Despite the advantages of knowing your credit rating, the most compelling incentive for people to check their credit turned out to be simple curiosity.
A fifth of people admitted that they would check their credit history before applying for credit and 96 per cent of those that did a credit check, for whatever reason, said that they would do so again in future.
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