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Aug 14, 2006
APACS has published a new advice guide, Checking your Credit Record,
available via www.choosingandusing.com.
The UK payments association
says this guide will provide UK
consumers with a better understanding of what their credit record (also known
as credit report) is and why it pays to undertake regular checks. In addition,
APACS says the guide offers 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.
According to a study conducted by Experians CreditExpert monitoring
service, just one in twenty credit card holders in the UK have requested to see their
credit report, while one in five people (21 percent) admit they have no idea
whether they have a good or bad credit score. “The fact that only one in twenty
people check their credit report is not good news and we would like to see this
figure improve. 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,” says Sandra Quinn, director of
communications at APACS.
The guide is downloadable as a PDF at http://www.choosingandusing.com/Downloads/credit.pdf
and www.apacs.org.uk/media_centre/press_releases.html.
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