Credit scores can be confusing at the best of times. In the past, we’ve written about how to get a free credit report, noting their importance but also the inconsistency across the major companies that offer them.
With such variation, it can be challenging to find an overall view of how your credit file looks. That’s where CheckMyFile comes in. The company’s aim is to provide the most detailed online credit report out there. We take a look at how they go about this, what their service offers, and whether they deliver on their aim.
Editor’s note: The team at CheckMyFile have asked us to clarify some points. As the only service that offers multiple reports in one, they feel that their price of £14.99 per month is reasonable and should not be compared like-for-like against other individual services. They also have very little negative feedback from customers about their opening hours for support.
Pros and Cons
Pros
✔️ Highly detailed report that gives a broad selection of information.
✔️ Gives advice on how to improve your credit file.
✔️ Free 30-day trial of the service.
Cons
❌️ £14.99 monthly fee seems a little high after the free trial.
❌️ Customer support hours are Monday to Friday, 9am to 5pm.
What is CheckMyFile?
CheckMyFile originally launched back in March 2000 and has secured the spot of the only multi-agency credit report provider in the UK. They were also the first company to provide customers with online access to their credit report and credit score. In the following years, the company continued to grow, providing customers with information about what lenders see about them.
CheckMyFile originally launched back in March 2000 and has secured the spot of the only multi-agency credit report provider in the UK.
CheckMyFile continues to get positive reviews from consumers, and they passed the 2,000,000 customer mark back in 2013. In 2015, they were named the UK’s best credit report service. The company is privately owned and independently operated.
How Does CheckMyFile Work?
It’s fairly easy to get started with CheckMyFile. The website is simple and straightforward to use, and you can get started with only some basic personal details and a credit or debit card. The card you use will be charged after your free trial is up (unless you cancel beforehand).
Once you’ve submitted your details and they’ve been verified, you’ll be able to start checking your detailed credit report. As well as your personal details, CheckMyFile uses information such as the Electoral Roll, Registry Trust, banks and building societies, telecoms agencies and other credit providers. This information helps to build up a detailed account of your credit history and makes the reports all the more accurate.
What Features Does CheckMyFile Have?
There’s more the CheckMyFile service than just a straightforward credit report. The company has developed a range of features that help customers get a detailed understanding of their financial position and how they appear to lenders. This includes:
Reports from the four major providers
This includes Equifax, Experian, and TransUnion, giving a detailed overview.
Check and amend the report
You can see detailed information on whether you’ve made payments, whether your credit agreement details are correct, and whether your accounts are closed.
Breakdown by type
The report also shows into what categories your credit falls, including things like loans, mortgages, credit cards, and more. The report updates as you improve your score, giving you a track of your progress.
An independent view
Instead of the usual one-dimensional credit report, CheckMyFile gives customers a detailed and independent view that shows you the positives and negatives of your credit score.
See who’s associated with you
The reports show who’s linked to you financially and how that impacts your ability to get credit. You can then remove any incorrect associations.
What Are the Fees For Using CheckMyFile?
CheckMyFile charges a monthly fee of £14.99. However, they also offer a 30-day free trial, giving you a chance to try out the service to see whether it’s useful to you. You can cancel the service at any time, either online or via phone.
The monthly fee may seem a little steep, but when you consider the cost of each individual service (ranging from £7.95 to £14.99 per month), it’s pretty good value for money. Of course, you can also get free credit reports from other services, they’re just not as detailed. Whether or not you can justify the service depends somewhat on your individual needs.
What Are the Drawbacks of Using CheckMyFile?
CheckMyFile gets generally positive reviews. On Trustpilot, it has an ‘Excellent’ reputation, with over 550 reviews. However, there are some small issues that detract from it having a perfect score:
- Support hours are a little limited. The CheckMyFile customer service is open 9am to 5pm Monday to Friday. If you work long hours, you may find it hard to find the time to contact them.
- No automated alerts. If there are any signs of identity theft, the service won’t alert you automatically, you’ll have to log in to find out.
How Safe is CheckMyFile?
CheckMyFile takes security seriously. Their website uses a secure connection and any data you input is encrypted. The reports generated by the service are also password protected. This means that they’re safe from malware and prying eyes. You can use the service to find any signs of identity theft, but you won’t get any notifications of such.
CheckMyFile Verdict
Overall, there’s a lot to like about CheckMyFile. The service they offer is comprehensive, useful, and unrivalled. The reports that the company produce give sufficient detail for you to get a holistic understanding of your financial position and how lenders see you.
Overall, there’s a lot to like about CheckMyFile. The service they offer is comprehensive, useful, and unrivalled.
If you’re looking to improve your credit rating, there are few better ways of staying on top of your progress than with CheckMyFile. Although the £14.99 monthly fee might be too steep for some, the 30-day free trial gives you enough of a chance to try the service.
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