Credit Reports Increasingly Popular as Consumers Chase Loans

Mon, 21 Apr 2008

Credit reports are increasing in popularity as consumers look to understand where they are going wrong as they are refused loans, credit cards and mortgages . The UK’s leading credit scoring firm, Experian, has seen the number of people applying for a credit report double in the last six months as consumers begin to take a proactive approach to their finances .

The internet has made access to credit reports much easier, as evidenced by the success of Experian’s US based web-monitoring branch Hitwise, which saw Experian enjoy a successful second half of 2007. Experian had previously suffered a 20 per cent decline in revenue as a result of the credit crisis, with fewer successful home loan applicants meaning Experian have struggled.
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