Comparison Sites Warning

I just thought everyone should be aware when using insurance & price comparison sites, that some of the companies they search may search your credit record and that leaves a 'footprint'.

An identity check has no impact on your credit rating or ability to check credit in future. It is not the same as a credit check although it does use the same system.

Lots of firms, including my own, use this system.

The point is that it isn't the Comparison Site doing the search, it's a third party I have never even contacted.

Its not a third party. Its an authorised party. When I use the electronic money laundering system, my company name doesnt appear on the search. The name of my compliance company (network) does. This is how it is when you outsource compliance as many comapnies do.

It isn't clear on the comparison sites that you will be credit checked and it should be.

As I said, you are not being credit checked and it doesnt show as a credit check.

It does leave a footprint

It shows as a check but not as credit check.

in my opinion they really have no business credit checking you

Its a good job they are not credit checking you then.

You are misunderstanding what is taking place and jumping to conclusions based on that. There is no credit check taking place. The money laundering checks use the credit check system (as its experian and equifax that offer these) but it is not classed as a credit check.

This is what Experian say in their help notes


Does a search affect a customer's credit rating?

No. An electronic note, or 'footprint' is left on their record to say that a check has taken place, but it does NOT affect the customer's credit rating, is not used as part of the credit vetting process, and the information is not sold to third parties.

Please do not attack me for expressing my opinion. I have not attacked you.

I'm not attacking you. I am correcting your error.

I have in writing from 3 industry professionals that there is no value to these credit file searches unless someone completes an application with a product provider

That is correct. This is why they typically do not complete one until you agree to make a purchase. It would also not be logical to make one before then as every check made costs money.

in fact one comments that it actually causes problems & I agree.

You are both wrong.

hether you refer to it as a credit check or a search, the fact is they are checking your credit file and it does leave a footprint.

It leaves a footprint showing there was a non credit related search. It does not get treated as a credit search and this is confirmed by all the credit agencies that offer this facility.

I have spoken to Experian.

Good for you. However, you still seem to be ignoring the facts. Facts that experian themselves publish on their website.

I think many people will be surprised to learn that the insurers the comparison site gets quotes from may be going and looking at our credit files at the quote stage

Again, you are assuming its at the quote stage. I very much doubt that would be the case as Experian, for example, charge £1.95 a go for every check. The companies are required to inform you that a check may take place before you start any part of a transaction. The check needs to be made before the purchase completes though. So somewhere in the process it is likely to occur.

Also, the insurers themselves dont get any data about you beyond the quote information until it goes to application stage.

the purpose of this thread is to inform people of that.

The purpose of this thread is flawed because you are making incorrect assumptions. The biggest one being that an electronic money laundering check involves a business "looking at your credit files" and it leaves a footprint that can impact on your credit.

You are wrong and the evidence available on experian's website confirms you are wrong.

Ok, so lets say they do decide to pay for an electronic money laundering check at quotation stage. Whats the problem with that except for the pointless cost that the comparison site incurs?

Can you name the sites that you say are doing checks at quote stage as that would be interesting to know which you are referring to as it is clearly a complete waste of money and not the sort of thing you usually associate with a site designed to save money.