QuickCreditScore.co.uk, the membership programme offering access to Callcredit credit reports, has reminded its members and other consumers to check their credit reports this January.

Claire Patterson of Quick Credit Score said: “Regularly checking credit reports should be part of any consumer’s financial management. Membership to Quick Credit Score allows you to access to your Callcredit.credit report and score as part of your financial management.

The usual reasons are all there; protection against fraud, the management of debt and so on, and those reasons are always important, but with the way the economy is turning, there are even more reasons to keep track of your credit score. “Now with possible improvements in the housing market, as well as many people applying for loans to get them through the hard times, it is more important than ever to check your credit score.”

The Financial Times reported in late November that the number of new houses built in the UK rose to its highest point in over a year in the third quarter of 2009, leading to speculations that house prices may stabilise. This will mean that many consumers will breathe a sigh of relief and begin looking to improve their mortgage deals with more confidence.

At the same time, many people on time-limited deal mortgages are finding themselves coming to the end of their fixed-rate period and will be looking around to find a better home loan. “Before consumers start searching around for a cheaper fixed-rate mortgage, it would be wise for them to check their credit report,” Claire Patterson said.

“Many people do not realise that mortgage lenders look at consumer’s credit scores before agreeing mortgage terms or even allowing a consumer to borrow from them.

So, it is a good idea to find out where you stand with your credit score and report before you go applying for credit and loans.

“A poor credit score will normally lead to applications for mortgages, loans or credit cards either being rejected by the lender, or the lender imposing a high APR on the consumer in order to cover the risk of lending to them. In some cases, the interest repayments meant that in real terms the credit is barely worth it.

“Equally, some consumers do not realise that if they keep applying for credit and keep getting rejected, that too has an adverse affect on their credit score, thus making their future applications even more unlikely to succeed. So, again, knowing what your credit score is before you start looking for a new mortgage will help you keep your credit score looking healthy.”

With 2010 expected to bring with it a new round of credit applications, as consumers look to save money as the economy slowly recovers, consumers are reminded of the importance of ensuring that their details are on the electoral roll correctly.

“The electoral roll is used by creditors to check that applicants for credit live where they say they live and are who they say they are,” Miss Patterson said.

“Applicants who are on the electoral roll at the correct address are looked on favourably by creditors, as it demonstrates that they have a fixed address. If an applicant has lived at that address for six years or more, this is even more favourable; it demonstrates that consumers have borrowed responsibly enough to avoid mortgage problems, rent arrears or even house repossession.

“If you are about to apply for credit and your application is otherwise good, don’t let down your application with a simple thing like this. Ensuring your electoral roll details are correct is an easy, five-minute job, so go for it.”

Checking credit scores can help to prevent against identity theft as well as keeping track of debt.

A credit report shows up a person’s credit history, so obtaining a copy of that report allows a member to see any debts taken out fraudulently in their name and so catch credit thieves in the act before any more debt is run up.

Identity theft aside, credit reports and credit scores are an important part of keeping borrowing under wraps. Consumers who check their credit report regularly are in a better position to decide how much more they can afford to borrow, and so are less likely to get into uncontrollable debt that they cannot pay back.