Credit checks on current accounts and credit cards
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reallyboaring
Posts: 1 Newbie
Hi all, I'm new to the forums, so I'm sorry if I say/do anything wrong!
I am trying to build my credit score up with a Capital One credit card that I applied for and got at the start of the month and will be paying it off in full every month. I've also got some money in savings that I want to get some interest one, as right now my balance is over the limit to get interest in my TSB Plus account, so I was going to apply for a Tesco Current Account today, but they do a credit check in the application.
Obviously if I go through with this then I will have had 2 credit checks in the space of 3-4 weeks, which can be bad for your credit. Within the next 6 months I plan to move into a flat with my SO and my car insurance will be up for renewal, which will probably involve credit checks and I don't want to harm my credit instead of improve it by doing any of these things.
Are credit card checks and current account credit checks different? Will having 2 checks definitely be a bad thing?
Many thanks to everyone who reads/replies!
I am trying to build my credit score up with a Capital One credit card that I applied for and got at the start of the month and will be paying it off in full every month. I've also got some money in savings that I want to get some interest one, as right now my balance is over the limit to get interest in my TSB Plus account, so I was going to apply for a Tesco Current Account today, but they do a credit check in the application.
Obviously if I go through with this then I will have had 2 credit checks in the space of 3-4 weeks, which can be bad for your credit. Within the next 6 months I plan to move into a flat with my SO and my car insurance will be up for renewal, which will probably involve credit checks and I don't want to harm my credit instead of improve it by doing any of these things.
Are credit card checks and current account credit checks different? Will having 2 checks definitely be a bad thing?
Many thanks to everyone who reads/replies!
0
Comments
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A couple of searches is not a big deal, especially as you don't appear to be planning on applying for any credit in the near future. I would only advise against it if you were in the midst of a mortgage application.
Remember that your credit score doesn't measure your credit worthiness in any shape or form - so ignore any fluctuations in it.0 -
You will be credit checked for any credit application, whatever it may be.
I would not worry unduly about to many searches on my credit file (you can overthink these things sometimes) as long as you dont apply for credit too often.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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