Incorrect or out of date information stored on credit files is restricting some people’s ability to obtain credit, the Information Commissioner’s Office (ICO) has warned.
The ICO is urging UK consumers to make sure the data stored on them is accurate so financial institutions can assess any credit card, loan or mortgage applications they make in 2010 fairly.
If the content of an individual’s credit reference file is wrong or out of date, banks, credit card companies or retailers might turn down any request they make for new credit.
Check your credit file
Under the Data Protection Act, everyone has rights which allow them to obtain and protect their vital financial information. The Which? guide to checking your credit file explains how to access the information stored on you and request that any mistakes are corrected.
If you ask a credit referencing agency to amend inaccurate information held on your file and they fail to do so, you can complain to the ICO.
For more information on credit scoring and how to improve your chances of being approved for a loan or credit card, read .
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