Credit Score Basics > How the TransUnion Statutory Credit Report works

How the TransUnion Statutory Credit Report works

Wollit Team3 minute read · Updated 1st July 2024

The TransUnion Statutory Credit Report is a basic report that shows your credit history in the UK. It's different from the full credit reports you can get from companies like Credit Karma.

What's in my TransUnion Statutory Credit Report?

The Statutory Credit Report is a report that UK consumers can legally request from TransUnion, one of the three main credit reference agencies in the UK. According to the Consumer Credit Act 1974, credit reference agencies like TransUnion have to provide you with a free, basic credit report. This is why it’s called a statutory credit report: “statutory” means “by law”.

This report provides a factual record of your personal credit history, including information from banks, lenders, and other sources. It contains the core details that lenders look at when you apply for credit products like credit cards, loans, or mortgages, and it shows your payment history, outstanding debts, and any public records like court judgments (CCJs).

Specifically, the TransUnion Statutory Credit Report includes:

Your personal details: Name, date of birth, current and previous addresses.
Credit account information: Details of any credit accounts you have, like credit cards, loans, or mortgages, including the account status, credit limits, and payment history.
Public records: Any public records related to your financial history, such as court judgments, bankruptcies, or debt arrangements.
Credit searches: A record of any credit checks that have been performed on your file, such as when you've applied for credit.

Importantly, this report does not include your credit score or any additional features to help you understand your credit rating. You’ll need to sign up to a service that provides you with your TransUnion credit score and full TransUnion credit report for this, like Credit Karma, MoneySuperMarket, or MoneySavingExpert.

How is the TransUnion Statutory Credit Report different from the ones I can get from Credit Karma or other websites like it?

There are a few key differences between the TransUnion Statutory Credit Report and the full reports from companies like Credit Karma, MoneySuperMarket, or MoneySavingExpert:

Credit score: The statutory report does not include your TransUnion credit score, but these other services do.
Extra features: The statutory report is just a basic record of your credit history. Credit monitoring services like Credit Karma offer extra features to help you monitor and understand your credit score, like credit alerts and product recommendations.
Updates: The statutory report shows the information TransUnion has when you request it. The full reports are typically updated more often, like weekly or monthly.

In any case, the cost is free for both the statutory report and for the report you can get from these services. It’s up to you which one you want to check.

How do I get my TransUnion Statutory Credit Report?

You can request a copy of your TransUnion Statutory Credit Report in two ways:

Online, directly from TransUnion's website.
Or by mail: Download and complete the statutory report form from TransUnion's website, then mail it in. They’ll send it to you within 7 days.

Whichever method you choose, the result is the same. The difference is that online you’ll receive a PDF file while by post you’ll receive a printed version.

You should keep in mind, however, that you don’t need to share the PDF or the printed report with a lender when you apply for a loan. This report is simply for you and it’s meant to help you understand what lenders see. When you make a credit application, lenders will contact TransUnion directly.

Why should I get my Statutory Credit Report?

There are a few main reasons why you should get your free TransUnion Statutory Credit Report:

It's free and you have a legal right to it. TransUnion must provide you with the credit information they have on you at no cost. Getting your statutory report allows you to exercise this right. In other words, “why not”.
To check for mistakes. Looking at your statutory credit report allows you to check that all the information TransUnion has about your credit accounts and payment history is correct and up-to-date. Errors on your credit report happen more often than you think and in some cases they can hurt your credit score.
To see what lenders see. When you apply for credit products like loans or credit cards, lenders will check your credit report from TransUnion and other agencies. Getting your statutory report shows you the essential credit information lenders use to decide whether to approve you.
To watch for signs of identity fraud, like applications or even loans taken in your name by a fraudster.
As a record of your credit history. While the statutory report doesn't include your actual credit score number, it does give you a record of your credit history, which is what your score is based on. Reviewing it regularly allows you to track changes over time.

And, of course, remember that the statutory credit report is only a piece of the puzzle. Lenders will also look at your full credit report and score – which is why it's a good idea to download a credit-building app like Wollit.

Wollit works by reporting a fixed-fee monthly subscription as a loan repayment to all credit reference agencies, including TransUnion. This helps you build a history of timely debt repayments, which is the main factor that matters for your credit score.

Checking your statutory credit report is useful, but if you’re looking for an app that can actually improve your credit score and chances of getting a loan, you might get more mileage from a credit-building app like Wollit.