---
title: "Gaps in UK credit knowledge"
description: "One in five adults don't realise they can access their credit information at all. Among those who do check, comprehension is the bigger problem."
canonical: "https://totalcreditcheck.co.uk/help-centre/articles/gaps-in-uk-credit-knowledge/"
topic: "Market context and research"
published: 2025-10-29
updated: 2026-04-07
author: "Harry Austin"
publisher: "Total Credit Check (Piomes Ltd)"
---

# Gaps in UK credit knowledge

More people than ever are checking their credit report. Fewer than two in five say they understand what they're looking at.

**The short version:** one in five adults don't realise they can access their credit information at all. Among those who do check, comprehension is the bigger problem.

The FCA's latest [Financial Lives survey](https://www.fca.org.uk/financial-lives/financial-lives-2024) offers some fascinating insight into what people in the UK know about credit reports and scores. Some encouraging news — and some gaps that need closing.

## Checking is on the rise

People are becoming more proactive. **34% of UK adults** got their credit report or checked their score in the 12 months to May 2024 — a **6% increase since 2022**.

**Young adults are leading**, with **52% of 25 to 34-year-olds** having checked in the past year.

## Why people check

The motivations were mostly practical: **66%** wanted a general sense of where they stood financially, and **41%** were simply curious.

Around **one in five** used it to check their eligibility for credit — a genuinely good habit, since making sure everything is in shape before applying saves time and can improve your approval chances.

## The awareness gap

Despite the increase, **nearly one in five adults are unaware they can obtain their credit report or score** from a credit reference agency or credit information service.

The gap is widest among younger adults: **only 59% of 18 to 24-year-olds** knew they could access their credit information.

## Understanding what you're looking at

Access is one thing. [Understanding](https://totalcreditcheck.co.uk/help-centre/articles/credit-reports-and-scores-the-basics/) is another.

**Fewer than two in five (39%)** who checked in 2024 said they understood it very well. Around **one in ten (9%)** didn't understand it very well, or at all.

So while people are getting better at staying informed, many find it a challenge to make sense of what they're seeing.

## Raising disputes

The survey also looked at what happens when people find errors.

**10% of those who checked their report identified an error or issue** — roughly **1.8 million adults** who found something wrong.

Of those, about **half (47%) successfully got the error corrected**, while **30% hadn't yet resolved it**. Which underlines why regular checking matters: errors happen, and they affect your ability to get credit.

The research shows we're heading in the right direction, with work still to do.

Checking your credit report isn't only about preparing for a mortgage or a loan. It's about staying informed, spotting errors early, and building habits that keep your credit health in check long term.

## The key things to remember

- 34% of UK adults checked their report or score in the year to May 2024, up 6% since 2022.
- 52% of 25 to 34-year-olds checked — the most proactive age group.
- Nearly one in five adults don't know they can access their credit information.
- Only 59% of 18 to 24-year-olds were aware they could.
- Just 39% of those who checked said they understood it very well.
- 10% found an error — around 1.8 million adults.
- Fewer than half of those errors had been corrected; 30% remained unresolved.