Credit Reference Agencies act like data libraries, pulling in information from lenders and public bodies.
There are three main Credit Reference Agencies in the UK: Equifax, Experian and TransUnion. We partner with TransUnion to provide you with your TotallyMoney Credit Report.
Credit Reference Agencies exist to help both the lender and consumer; preventing issues such as consumers being unable to pay companies back or being provided with too much credit that they are unable to manage.
Individuals are also able to access this information to ensure that the information being provided by other lenders is accurate. It also provides them with an opportunity to review their credit data before applying for any credit products.