FAQs

About

Credit Chum is an exciting subscription-based service that gives you access to personalised finance and credit offers, an opportunity to access your credit report and you may gain additional insights into your social report.

Credit Report: Once you get access to your credit report, which is provided by a Credit Reference Agency, it will give you the ability to track your credit score and ensure you are always in a good position to be accepted for credit before you make an application.

Finance: Through Credit Chum you will have access to a panel of personalised consumer credit providers to whom you can make credit applications, including loans.

Social Report: You will be able to see how other people, businesses and potential lenders see you through your social media activity.

You will also have a panel of latest offers, discounts and vouchers from many of the high street’s most recognisable brands – find this at any time in your member’s area.

If a free trial is offered on signup then after your free trial period ceases, you will be charged a fee of £19.99 (inc VAT) per month. If no free trial is offered you will be charged £19.99 on signup and a fee of £19.99 (inc VAT) per month. Your subscription fee will be charged to the card used to sign up to the service.

The easiest way to contact us would be through either of the three methods outlined below. Please be aware that we are open Monday, Tuesday, Thursday 10am - 12pm and 2pm - 4pm, then Wednesdays & Fridays 10am - 4pm and closed on public holidays and weekends.

Via post: creditchum.co.uk, The Old Bank, 247 Chapel Street, Salford, M3 5EP

Via telephone: 020 3011 2460

Via email: hello@creditchum.co.uk

Social Reporting

Social Reporting is an algorithm that scans your social media profiles to give you a score out of 100. The system provides you with a report showing how other people see your social media activities and shows whether you use too much bad language or are quite argumentative or controversial.

Your Social Report will be available you to 24/7 in your secure member area.

Knowing how you appear to others online can have a massive effect on your future online behaviour and how you can behave differently to maximise your positive online presence. It may explain why you have recently missed out on a job or some finance as some lenders and employers may run a social report on what public profiles you have, and if they see things they think may make you a risk, they may not offer you a job or any credit.

We also offer extras like a personality checker so you find out what your social media activity says about you as a person and tailored job openings based on what kind of job would suit your profile.

Credit Lending

By using the Social Report, Credit Chum can tailor finance offers to you. This could include trying to pair you with credit for a car if you’ve posted about wanting a new car, or maybe mortgage providers if you have written about moving into a new house.

Once you get access to your credit report, Credit Chum can help pair you up to lenders and credit providers that are more likely to accept you based on your current financial circumstances.

You will also have access to credit through the conventional credit broking method of making an application and having it sent through to a panel of lenders and credit providers, to see if you can match with any of them.

Credit Reports & Scores

In simple terms a credit report is a record of your credit history, showing how you manage your finances. It details information such as how long you have had credit accounts, how much debt you have, if you have any CCJs and much more. Essentially it is how you have previously handled credit.

The information on your report helps lenders assess your level of risk when deciding whether to provide you with credit.

A Credit Score is a number that is calculated from your Credit Report to represent your credit history. The higher the number the better, as those with a higher score are generally viewed as being a lower risk and are more likely to obtain credit at more favourable terms.

It is important to note that your Credit Score is only a guide as it is not the same as an individual lender's score. Even if you have a high Credit Score it does not guarantee that you will be accepted for credit as each lender has different criteria when assessing which customers to lend money to.

No. Checking your own Report will not lower your credit score. However, multiple applications to lenders will affect your Credit Report / Score as hard searches by lenders will leave a trace.

Credit Reference Agencies

A Credit Reference Agency (CRA) is an independent company that collects and securely holds and reports finance-related and public information about you. This information, including details about your credit applications, financial history and current accounts is provided upon request to potential lenders, employers or landlords. This is used to help in identifying you, or when in relation to taking out credit, the likelihood of your defaulting on the agreement.

In the UK, there are three main Credit Reference Agencies: Equifax, Experian and TransUnion. You can contact them directly using the addresses below, or visit their websites for more information:

TransUnion - Consumer Services, TransUnion International UK Limited, PO Box 491, Leeds, LS3 1WZ

Equifax - Equifax Ltd, Customer Service Center, PO Box 10036, Leicester, LE3 4FS

Experian - Customer Support Centre, Experian Ltd PO Box 9000, Nottingham, NG80 7WF

In order to provide your Credit Report, Credit Chum uses TransUnion.

Fraud

It is important that you check your Credit Report on a regular basis so that you will notice if something looks strange as this could be a sign that your stolen identity is being used to make credit applications.

If you think you have been a victim of Identity Fraud you should:

  • Immediately report any lost or stolen credit cards, debit cards or documents to the issuing company
  • Contact Action Fraud: www.actionfraud.police.uk
  • Check your Credit Report for any accounts of credit applications that you are not aware of
  • If you are contacted about credit agreements that you are not aware of, tell the company as soon as possible, they will advise if you need to contact the police
  • Keep a record of all material connected with the fraud, for example make a note of all of the calls and keep all letters and emails
  • Contact the Royal Mail Investigations Unit if you suspect that your post has been stolen or redirected fraudulently. Contact the Mailing Preference Service to try to remove your name from mailing lists if you think your details are being used at another address
  • Consider adding a Notice of Correction to your file which contains a password and instructions to lenders that they should decline any application that does not quote this password.

For an administration fee of £20.00, Cifas - the UK's fraud prevention service - can place a 'Protective Registration' warning on your credit file. This will tell lenders that you think your personal information is at risk of being used fraudulently. When they receive an application with your details, they'll make more checks to make sure the person applying is you and not a fraudster. It may mean that any applications you make are delayed while there is further verification of your I.D.

Billing, Cancellations and Account

If a free trial is offered on signup then after your free trial period ceases, you will be charged a fee of £19.99 (inc VAT) per month. If no free trial is offered you will be charged £19.99 on signup and a fee of £19.99 (inc VAT) per month. These payments will be charged to the card that you signed up to the service with. When you sign up to Credit Chum's services you are providing us with a Continuous Payment Authority (CPA) to collect payments automatically from your bank account.

You may cancel or terminate this agreement at any time by calling us at 020 3011 2460 or by notifying us in writing at: creditchum.co.uk, The Old Bank, 247 Chapel Street, Salford, M3 5EP. You may also email us at hello@creditchum.co.uk

In order that we meet our obligations under data protection regulations, please confirm the following information: -

  • Full Name
  • Email address that you used to register for your account; we cannot locate you in our records if you provide a different email address
  • Mobile number that you used to register for your account
  • The post code that you used when registering

Please remember that it is your right to be able to cancel the Continuous Payment Authority directly with your bank.

You can reset or update your password from within the settings section of your Credit Chum account.

You can also contact us via email at hello@creditchum.co.uk or via telephone on 020 3011 2460 and we will be happy to help.

Complaints

If you feel we have dropped below our high standards, or if you feel you need to bring something to our attention, please contact us us via email at hello@creditchum.co.uk or via telephone on 020 3011 2460. You can also write to us at creditchum.co.uk, The Old Bank, 247 Chapel Street, Salford, M3 5EP. Don’t forget to include as many identifying details as possible so that we can locate your account information.

Please provide us with as much information about your complaint as possible and how you would like it to be resolved. We will endeavour to resolve it within the first 5 days, and if unsuccessful we will issue a final decision letter no later than 8 weeks after your initial complaint. If you are still dissatisfied we will signpost to you the free and independent Financial Ombudsman Service who will make a decision on the outcome of the complaint.

Please see complaints policy for our full complaints handling procedure.

Further Help

There are a number of free, impartial organisations who can help you if you are struggling with debt:

Citizens Advice

Citizens Advice provides independent, confidential and free advice on getting out of debt, and a variety of other issues.

Website - www.citizensadvice.org.uk

Money Advice Scotland (MAS)

Money Advice Scotland (MAS) is a registered charity, and the national umbrella organisation promoting the development of free, impartial, independent, confidential money / debt advice and financial inclusion.

Website - www.moneyadvicescotland.org.uk

Tel: 0141 572 0237

The Money Helper

Free and impartial help with money, backed by the government.

Website - https://www.moneyhelper.org.uk/en

Tel: 0800 138 7777

National Debtline

National Debtline is a debt charity that provides free, impartial and confidential advice.

Website - www.nationaldebtline.org

StepChange

StepChange provides comprehensive debt advice and help to people with debt problems take back control of their finances.

Website - www.stepchange.org

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