If you are thinking of applying for credit such as a mortgage, re mortgage, credit card or loan or, even an overdraft then make sure your credit file is up to date and accurate. 

According to Credit Action, around 25,000 people every day got turned down for credit during 2009 and one of the commonest causes is inaccurate information on their file. 

Many people rarely keep a close check on their credit files and only find out that they have been rejected for credit when it is too late. The damage has been done as the search and the result are lodged on your file. 

Until now consumers had to send a cheque or postal order for the sum of £2 to one of the credit reference agencies requesting a paper copy of their report. The downside was that this could take up to a week. Not exactly what you need when in a hurry when checking out identity fraud or needing that quick loan. 

Now however, you have the chance to see the file online for the same fee. 

Accessing you file is not difficult; you will need an internet connection and a credit or debit card to hand to pay the £2 fee. 

This change has come about as a result of pressure from the last government who wanted to see improvements in access to personal data as well as making it quicker and cheaper. 

It is envisaged that the initiative would improve a consumer’s chance of getting credit and therefore reduce the risk of being unfairly treated and more to the point, unnecessarily disadvantaged. 

So far three credit reference agencies have made this service, known as the ‘statutory £2 credit file search’, available online. 

Can you still see your credit file for free? Yes, details on how to do this and how to apply for the statutory £2 credit file check can be found here see credit report.