Almost everyone over the age of 18 years has their credit history on a national data base. This is called your “credit file” and your history is normally analysed by your potential Lenders in the future.

The number of times you have applied for credit in the last 5 years or what is referred to by lenders as “the number of hits on your credit file” is an adverse thing - and frowned upon. More than 3 a year is generally considered by banks as busy when you are applying for home loan. You should be aware that every time you maybe get a new phone plan, interest free terms for a white goods purchase, a car loan, a credit card or a limit increase that it will be a hit and recorded on your national credit file.

In summary you should be vigilant on what information is put on your credit file and be aware of the data on it. You can obtain a copy of your credit file quickly for a very small fee and in most cases customers are amazed at what information about them is recorded.

If you wish to obtain a copy of your own credit file, please contact us at here Gladstone Home Loans 4978 7422 and we will be happy to advise you how.

Peter Miller