What is a credit check?

Running a credit check through Amiqus ID will generate a credit report. Results are provided instantly validating your, address and date of birth details whilst conducting a real-time check against bank and credit providers’ records. 

Who does this check and what data do they have?

We partner with TransUnion (formerly Callcredit) to provide access to a wide range of databases which include the electoral roll, international fraud register, court judgements, credit fraud agencies, birth and death registers, companies house, government sanctions lists and many others.

What do the different credit rating bandings mean?

Your credit rating is an assessment of your creditworthiness based primarily upon your history of borrowing and repayment. It’s shown as a score out of 5. The higher your credit rating the lower your credit risk and the more likely you are to have your application for credit accepted.

Every credit provider will have their own rules and use a combination of financial information to help them make their decision.

Credit rating 1

A rating of 1 indicates that you are likely to have difficulty obtaining credit and may find that credit providers will turn you down.

Credit rating 2

A rating of 2 indicates that you will sometimes be rejected when applying for credit and you may be offered a higher than normal rate of interest by lenders.

Credit rating 3

A rating of 3 indicates that you may occasionally be rejected when applying for credit. You may find you can’t get all the best deals in the market and you may find that lenders offer you higher than normal rates of interest.

Credit rating 4

A rating of 4 indicates that you can usually expect to be accepted when applying for credit and are in a position to choose between different credit providers who view you as a lower lending risk.

Credit rating 5

A rating within the top banding indicates that you are usually unlikely to be rejected when applying for credit and can typically take advantage of the best deals available in the market.

Why is my credit rating different on separate websites?

You don’t have on universal credit score which means that you may see different results depending on where you complete a check. You have three credit scores from three different credit reference agencies in the UK: Experian, Equifax, and TransUnion. Any credit checking website you visit will give you one of these three credit scores, no matter what the service is called.

Your Experian, Equifax and TransUnion (formerly Callcredit) scores may be slightly different. This is because not all lenders report to every credit reference agency. 

Credit reference agencies also have different maximum scores. Experian’s score is out of 999, Equifax’s is 700, and TransUnion's is 710. They have different scales, too. So your credit score might be 459 with Equifax, 999 with Experian and 609 with TransUnion, even with the same information. As long as your information is accurate, this won’t affect your creditworthiness.

The table below demonstrates the scales for each provider and what these mean.

Will this affect my credit rating?

When a credit check is undertaken through Amiqus ID, a mark will be noted on your file to confirm that the check has been run. This will show as a, "enquiry footprint". This provides you with the information on the third party data source asked to undertake the check.

Your credit rating will not be affected.

Did this answer your question?