What is a credit report?

Your credit report holds information relating to your credit history. If you've ever applied for credit or a loan it is likely you will have credit information held by a credit reporting body like Equifax. Credit can come in many forms. Along with credit cards, personal loans and mortgages, credit also includes mobile phone, electricity and gas contracts as well as store and rental finance.

Your credit report can help lenders, phone and utility companies get a clearer picture of your credit worthiness. It helps them understand your current credit commitments and how likely you are to be able to make repayments on future loans.

Getting a copy of your Equifax credit report can help you understand where you stand when it comes to applying for credit. It is important to check your credit report regularly to ensure it is accurate.