In the United Kingdom, there are three main Credit Reference Agencies (CRAs).
They are independent, private companies that are authorised and regulated by the Financial Conduct Authority (FCA) to compile and hold consumer credit information.
The three main CRAs
The three main agencies in the UK are:
Equifax
Experian
TransUnion
The free credit report and score you see in the Updraft app is provided by our partner, TransUnion. Other services you may use will show you a report from one of the other two.
Why are there three?
Each CRA is a separate, competing business. They collect information independently from lenders and public sources and do not share this data with each other.
Because of this, the information on your credit report can vary slightly between them. A lender might report your account information to one or two of the agencies, but not necessarily all three.
Does this mean I have three different credit scores?
Yes, that's correct. Because each agency may hold slightly different data and uses its own unique formula and scoring scale, you will have a different credit score with each of the three CRAs. This is completely normal and expected.
What does this mean for me?
For the most complete view of your financial standing, it's a good practice to check your credit report with all three agencies at least once a year. This allows you to:
Get a comprehensive picture of all the information being held about you.
Check for any errors or inconsistencies that might appear on one report but not another.
Spot any signs of fraudulent activity across the entire credit reporting system.
While you can conveniently track your TransUnion report with us, remember that Equifax, Experian, and TransUnion are the three pillars of the UK's credit reporting system.
Did you know?
Under the Consumer Credit Act 1974, you’re legally entitled to request a free statutory credit report from each CRA. You can do this directly through their websites once per year.