There’s an account on my credit report that I don’t recognise

It can be worrying to access your credit report and see someone else’s information on it. But before you panic, the first thing to do is try and work out how it got there. It doesn’t automatically mean that you’ve been a victim of identity fraud. In fact, there are a few reasons why you may not recognise the information on your report. We’ll go through them in this guide.

Unfamiliar name

Lenders may show on your report as their company name rather than their trading name. If you don’t recognise a name straight away, the date the account was opened and its payment history might help jog your memory.

Administrative oversight

The credit reference agencies may see someone else’s information as yours if you share similar details. For example, if you and your sibling share the same first initial, surname, and address, it may be more difficult to tell who the information relates to. The credit reference agencies use automated systems to collate your credit report, so errors can happen.

Reporting error

Errors can happen; inaccuracies and mistakes can be made by lenders when recording your details and payment history. A quick conversation with the lender will normally sort this.

Matching issues

If you use different names, it can make it difficult for the credit reference agencies to know that you’re the same person. If you have a double-barrelled surname and only use one part during applications, or use your married name but your information is still recorded in your maiden name, this can affect what’s on your report. Using a consistent name format will prevent this from happening.

Identity fraud

If the reasons above don’t explain things, identity fraud could be a possibility. If there’s an entry on your credit report that you don’t recognise, it’s always best to contact the lender and get them to look into it. There are steps you can take to stay in control of the information held about you:

• Regularly check your credit report for new information. Nothing should come as a shock; if you check your payment history regularly, you’ll know what you can expect to see.

• Secure your personal information. Use strong, unique passwords, enable multi-factor authentication, and don’t share sensitive documents like passports or bank statements.

• Keep an eye on address links and searches. These normally reach your credit report first, before any connected accounts which may have been taken out fraudulently.

Your credit health is easy to ignore. But checking in regularly and building long-term habits helps you keep on track, spot errors early and be in the best financial position for whatever life brings.