APACS, the UK payments association, has publishes a new advice guide on checking consumer credit reports to encourage credit users to become empowered through knowledge.
The association says it has launched the ‘Checking your Credit Record’ guide to give UK consumers a better understanding of what their credit record is and why it pays to undertake regular checks.
Available from www.choosingandusing.com the guide gives consumers a basic introduction to the way credit records are used by lenders to make borrowing decisions, what information is held, how to check their record and what to do if something is amiss.
The initiative comes as a response to recent revelations that the vast majority of credit users in the UK have never seen their individual credit report and therefore have no idea of their credit rating.
Sandra Quinn, director of communications at APACS, comments: We hope our new guide will give people a quick route to find out everything they need to know about their credit record. We would encourage everyone to check their credit report at least once a year – not only is it the best way to ensure they don’t have trouble accessing credit when they need it, it can also provide peace of mind that they have not been a victim of identity theft and that no one has successfully applied for credit in their name.