When you’re looking to borrow money, whether it’s with a credit card, a loan or even a mobile phone contract, the company you’re asking to borrow from will need to be confident that you can afford to repay what you borrow.

This is where credit reference agencies (CRAs) come in – they collect information about you from any banks or lenders you’ve borrowed money from and keep it on your credit file, which lenders can view.

In the UK there are three main CRAs; Experian, TransUnion and Equifax.

Typically, lenders work with at least one of these CRAs to help them make the decision about whether to lend money or not.

At Wagestream we work with Experian, so you will see Wagestream credit card details on your Experian credit report