The short answer: no. All three CRAs operating in the UK are subject to the same regulations.
These regulations are driven mainly by the European Union, via the European Commission and the European Securities and Markets Authority. On top of this, the UK government has their own set of laws and regulations that CRAs must follow.
CRAs are also regulated by the Financial Conduct Authority (FCA), and must have their permission to perform Credit Information Services.
If you’re wondering about reliability, then fraud and security have probably crossed your mind. Naturally, you want your credit details to be handled by a trustworthy agency.
Know that all three have their own anti-fraud protection protocols. For example, when registering with TotallyMoney, you’re asked a series of security questions before getting your Free Credit Report. These are provided by TransUnion and help validate your identity. If you answer these questions wrong twice, TransUnion blocks you from this service for the sake of customer security.
TotallyMoney has absolute confidence in our use of TransUnion and understand all CRAs operate to the same level. When using your TotallyMoney Credit Report and score from TransUnion, remember it’s only a guide. To get the best understanding of how you will be viewed by lenders, you should look at reports provided by all three CRAs.