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  • Foxn86
    • #2
    • 18th Feb 13, 11:34 AM
    • #2
    • 18th Feb 13, 11:34 AM
    You are now at the limit so personally i wouldn't suggest making any more for a further 6 months, lenders generally don't like to see any more than 2/3 max in any 6 month period. And to be honest the less the better, a few searches close together can make you look desperate for credit, not saying that is at all the case but best to leave it 6 months then if everything else is fine you should be ok
  • BugsyBrowne
    • #3
    • 18th Feb 13, 11:39 AM
    • #3
    • 18th Feb 13, 11:39 AM
    I firmly believe and will stick to my Guns that two searches in a six month period is sufficient this way you're more likely to recieve the advertised rate and bigger credit limit.

    Even better if you don't have any credit searches in a six month period.
  • stephane
    • #4
    • 18th Feb 13, 12:18 PM
    • #4
    • 18th Feb 13, 12:18 PM
    I very much doubt that you were declined because of the number of searches....it might just be that your profile did not match their criteria for one reason or another. I have 3 times the number of searches that you currently have and that did not stop me being accepted for several credit cards & a loan over the last few months. Impact of credit searches is just a myth in my opinion......
    • sfax
    • By sfax 18th Feb 13, 1:24 PM
    • 1,146 Posts
    • 411 Thanks
    sfax
    • #5
    • 18th Feb 13, 1:24 PM
    • #5
    • 18th Feb 13, 1:24 PM
    Stick to max 2 in any 6 month period to be on the safe side. I have been turned down before when too many searches has been the only negative factor - can't prove this was the actual reason though.

    Too many searches are also more likely to trigger a decision referral. I apply for a lot of BT credit cards and keep a close watch on what's in all my credit reports and its affect on applications
    • giblet10
    • By giblet10 18th Feb 13, 2:00 PM
    • 487 Posts
    • 182 Thanks
    giblet10
    • #6
    • 18th Feb 13, 2:00 PM
    • #6
    • 18th Feb 13, 2:00 PM
    Can you recall what rate you were quoted before you hit apply?

    Reason for asking is that I make soft applications to NW frequently and am amazed just how different they can be..sometimes it quotes 19.9 and others 7.9 - in some cases 19.9 seems to be an indicator of a decline, but others have been accepted at this rate so it isn't a hard rule..
  • izools
    • #7
    • 18th Feb 13, 2:07 PM
    • #7
    • 18th Feb 13, 2:07 PM
    I was approved for a Naionwide credit card with four searches in the preceding six months, so your decline won't be down to the number of searches alone
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
  • learningaboutinsurance
    • #8
    • 18th Feb 13, 3:22 PM
    Searches from Insurance companies
    • #8
    • 18th Feb 13, 3:22 PM
    Do Searches from Insurance companies also create problems when applying for CC's and Loans.

    Noticed on my Noddle CR that alot searches from Insurance companis
    • sfax
    • By sfax 18th Feb 13, 3:36 PM
    • 1,146 Posts
    • 411 Thanks
    sfax
    • #9
    • 18th Feb 13, 3:36 PM
    • #9
    • 18th Feb 13, 3:36 PM
    Do Searches from Insurance companies also create problems when applying for CC's and Loans.

    Noticed on my Noddle CR that alot searches from Insurance companis
    Originally posted by learningaboutinsurance
    Most are soft searches so no. If you can see "credit" searches on Experian or Equifax (not categorised as "other" searches) then that may present a problem but they shouldn't be doing hard "credit" searches
  • learningaboutinsurance
    Most are soft searches so no. If you can see "credit" searches on Experian or Equifax (not categorised as "other" searches) then that may present a problem but they shouldn't be doing hard "credit" searches
    Originally posted by sfax
    all of them were on Other Searches.

    hopefully it will not impact when i go for a loan next month with my bank
  • sharpy2010
    Impact of credit searches is just a myth in my opinion......
    Originally posted by stephane
    Agree with Stephane on this one, I had 8 searches for credit about a year ago, and applied for two credit cards and got them both. Then I applied for an iPad contract and got that as well, all within a month.

    Granted I then stopped applying for credit, as I had the required credit products that I required, and now only have 1 search within the last 12 months.
    • michaels
    • By michaels 18th Feb 13, 5:07 PM
    • 19,239 Posts
    • 88,246 Thanks
    michaels
    How about mobile phone contract searches, are they treated as just as bad as financial product searches?
    Cool heads and compromise
  • Megamicrofish
    Can you recall what rate you were quoted before you hit apply?
    Originally posted by giblet10

    Well, I did the soft search the day before and it quoted £1200 at 15.9%
    But for some reason the next day it went down to 19.9 and £1000 which was then declined ?
    • giblet10
    • By giblet10 18th Feb 13, 7:15 PM
    • 487 Posts
    • 182 Thanks
    giblet10
    But for some reason the next day it went down to 19.9 and £1000 which was then declined ?
    Originally posted by Megamicrofish
    Ah right, £1k limit and 19.9% is almost always a decline from what I've seen on here..
  • izools
    Well, I did the soft search the day before and it quoted £1200 at 15.9%
    But for some reason the next day it went down to 19.9 and £1000 which was then declined ?
    Originally posted by Megamicrofish
    Something obviously changed on your credit file overnight then.

    Perhaps the number of recent searches (had you applied elsewhere that day or the day before?) or balances on cards elsewhere?

    Whilst recent searches alone might not cause a decline, combined with other credit file data they may "tip the scale" as it were.
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
    • B19JON
    • By B19JON 18th Feb 13, 9:00 PM
    • 161 Posts
    • 47 Thanks
    B19JON
    I applied to Nationwide with 9 searches ( yes I was desperate for a BT) & got the card. 3k @ 19.9%

    I'm waiting now for a few months before I apply for my next card.
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