What can I do if I think information held by a credit reference agency on me is incorrect?

If you have been turned down for a loan and you cannot see any reason why, then you can contact the credit reference agency to see your personal credit report.

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What is a credit report?: When you apply for credit, your credit history will be checked out before approving your application – and your credit card issuer will refer to one of the independent credit reference agencies.
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How can I pay off my balance?: There are number of ways you can choose to pay off your credit card balance - either by Direct Debit, by Debit Card over the phone, by bank transfer from your bank or by cheque.
How do I make Cash withdrawals?: You can withdraw cash from any cash machine, just like you can withdraw cash from your own bank account.
What is the new Chip and Pin system?: The new Chip and PIN initiative is a system being introduced in the UK in 2004 to reduce counterfeit and stolen card fraud.

First you will have to find out which credit reference agency the loan company used. This will either be Equifax, Experian, or Call Credit. A copy of your personal credit report costs £2.

If you find that there is incorrect information on your credit report, you can either contact your lender and they will investigate the changes and notify the credit agency, or you can contact the credit agency and they will contact the loan provider. If the information is incorrect because you only recently paid an account, the company can take up to a month to amend their records and, in turn, your report (via the credit reference agencies).

It will not cost anything for your incorrect records to be updated, and once these changes to your credit record have been made you will be able to apply for a loan again without any troubles.