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1.1. Understanding credit reports

A credit report provides an overview of your credit history, as well as personal and legal information that could affect your finances. These reports are created by registered Credit Reporting Bodies (CRBs) and can only be accessed by you or authorised businesses and organisations, such as credit providers.

" ...the credit provider may use the information in your credit report to help work out whether you can afford to repay the loan and whether you are likely to repay it."

The Credit Smart website

By becoming more familiar with your own credit history, you will be able to understand why certain decisions are made when you apply for cards or loans. You will also be able to make more informed decisions about what credit products you apply for and when you apply for them.