If you are unable to get credit facilities, or even a student bank account, you may have become 'blacklisted'. This happens when you have failed to make minimum repayments on your credit cards. The company may have contacted a credit reference agency which holds a profile about the kind of credit user you are.

The credit reference agency holds information about you, which is considered when you are opening bank accounts and credit cards. Lenders will be told if you have defaulted and will know if any accounts you have had closed. This 'bad' information will remain on your credit file for six years.

If you are refused credit, the company you are applying to must tell you which credit reference agency they have used – the two in Britain are Experian and Equifax. This will allow you to contact the agency directly to find out exactly what is held about you. If the information is correct there is nothing that can be done; if there are factual mistakes you have a right to have these corrected.

Find out more by visiting experian.com and equifax.co.uk