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  • FIRST POST
    • SuzieSue
    • By SuzieSue 10th Oct 16, 9:52 AM
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    SuzieSue
    Changing energy supplier could affect your credit rating
    • #1
    • 10th Oct 16, 9:52 AM
    Changing energy supplier could affect your credit rating 10th Oct 16 at 9:52 AM
    I've just seen a episode of Rip off Britain which featured someone who regularly changes his energy supplier.

    This time he changed to NPower I believe. However, they did 2 hard credit searches on him and that resulted in him being rejected for a credit card a few weeks later.

    They said that 3 companies do hard credit searches at the moment, NPower, British Gas and Eon, from what I can remember.

    I just thought I'd warn anyone who might be affected.

    I have also posted this on the Energy and Credit Card board.
Page 1
    • mcpitman
    • By mcpitman 10th Oct 16, 1:10 PM
    • 396 Posts
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    mcpitman
    • #2
    • 10th Oct 16, 1:10 PM
    • #2
    • 10th Oct 16, 1:10 PM
    First problem - he dealt with NPower, they are incompetent at best
    Second problem - they did 2x searches, refer to comment above.

    He must of been borderline "creditworthy" anyway, if these made a difference.

    How did he found out, without doubtm that these searches affected him? Or was that a sweeping assumption that was made.
    Life isn't about the number of breaths we take, but the moments that take our breath away. Like choking....
    • nomoneytoday
    • By nomoneytoday 10th Oct 16, 2:09 PM
    • 4,666 Posts
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    nomoneytoday
    • #3
    • 10th Oct 16, 2:09 PM
    • #3
    • 10th Oct 16, 2:09 PM
    How would a search to check your details for an energy switch impact an application for a loan / credit card?
    • SuzieSue
    • By SuzieSue 10th Oct 16, 2:15 PM
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    SuzieSue
    • #4
    • 10th Oct 16, 2:15 PM
    • #4
    • 10th Oct 16, 2:15 PM
    F

    He must of been borderline "creditworthy" anyway, if these made a difference.

    How did he found out, without doubt that these searches affected him? Or was that a sweeping assumption that was made.
    Originally posted by mcpitman
    No, he seemed very creditworthy.

    That is what RoB said and I wondered how they were so sure too, but they usually get their facts right but could have slipped up this time.

    But this point still is that they left a 2 x hard credit checks on his record.
    • SuzieSue
    • By SuzieSue 10th Oct 16, 2:17 PM
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    SuzieSue
    • #5
    • 10th Oct 16, 2:17 PM
    • #5
    • 10th Oct 16, 2:17 PM
    How would a search to check your details for an energy switch impact an application for a loan / credit card?
    Originally posted by nomoneytoday
    Because some cautious lenders get spooked if you have too many hard checks done within a short spell of time. Perhaps they don't bother to go in to details to see they were just for gas/electricity and just see 2 hard checks and assume you are applying to multiple lenders.
    • GingerBob
    • By GingerBob 10th Oct 16, 2:48 PM
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    GingerBob
    • #6
    • 10th Oct 16, 2:48 PM
    • #6
    • 10th Oct 16, 2:48 PM
    Because some cautious lenders get spooked if you have too many hard checks done within a short spell of time. Perhaps they don't bother to go in to details to see they were just for gas/electricity and just see 2 hard checks and assume you are applying to multiple lenders.
    Originally posted by SuzieSue

    Are searches categorised as coming from real lenders as against chancers in the utility sector?
    • SuzieSue
    • By SuzieSue 10th Oct 16, 2:59 PM
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    SuzieSue
    • #7
    • 10th Oct 16, 2:59 PM
    • #7
    • 10th Oct 16, 2:59 PM
    Are searches categorised as coming from real lenders as against chancers in the utility sector?
    Originally posted by GingerBob
    RoB didn't say, but they should have done. It is a good programme, but sometimes they do leave questions like this unanswered.

    And the problem is that it is the cautious lenders who have the best credit card deals so it really matters.
    Last edited by SuzieSue; 10-10-2016 at 3:02 PM.
    • mcpitman
    • By mcpitman 11th Oct 16, 8:00 AM
    • 396 Posts
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    mcpitman
    • #8
    • 11th Oct 16, 8:00 AM
    • #8
    • 11th Oct 16, 8:00 AM
    [QUOTE=SuzieSue;71431545]No, he seemed very creditworthy.
    [QUOTE]

    And therin lies the problem, he "seems" to be creditworthy.

    Clearly not the case or 2x hard searches would not have affected this person at all.

    If his "creditworthiness" is so fragile, then I suggest he complains to NPower (good luck with that, they really are useless and incompetent) and gets one of the searches removed.
    Life isn't about the number of breaths we take, but the moments that take our breath away. Like choking....
    • SuzieSue
    • By SuzieSue 11th Oct 16, 8:45 AM
    • 3,317 Posts
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    SuzieSue
    • #9
    • 11th Oct 16, 8:45 AM
    • #9
    • 11th Oct 16, 8:45 AM
    [QUOTE=mcpitman;71434943][QUOTE=SuzieSue;71431545]No, he seemed very creditworthy.

    And therin lies the problem, he "seems" to be creditworthy.

    Clearly not the case or 2x hard searches would not have affected this person at all.

    If his "creditworthiness" is so fragile, then I suggest he complains to NPower (good luck with that, they really are useless and incompetent) and gets one of the searches removed.
    He tried complaining but they ignored him. They did 2 searches even though he was applying for a dual fuel deal.
    • SeanG79
    • By SeanG79 11th Oct 16, 3:47 PM
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    SeanG79
    2 Hard credit searches by an energy supplier would not result in a decline for a credit card.

    credit searches have less impact on credit decisions now compared to a few years ago, as lender are aware many customers are comparing rates before committing.
    • GingerBob
    • By GingerBob 11th Oct 16, 4:52 PM
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    GingerBob
    2 Hard credit searches by an energy supplier would not result in a decline for a credit card.

    credit searches have less impact on credit decisions now compared to a few years ago, as lender are aware many customers are comparing rates before committing.
    Originally posted by SeanG79

    They could for borderline cases. Straw that breaks the camel's back and all that.
    • SeanG79
    • By SeanG79 11th Oct 16, 4:54 PM
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    SeanG79
    If you only have the 2 searches, it is extremely unlikely.

    if you had 5/6 maybe
    • GingerBob
    • By GingerBob 11th Oct 16, 4:58 PM
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    GingerBob
    If you only have the 2 searches, it is extremely unlikely.

    if you had 5/6 maybe
    Originally posted by SeanG79

    Exactly. You may have already been hit with other searches for, say, new current accounts, a mobile phone contract and a new credit card. Then along comes the utility blagger and smacks you up with two more - even though you're a single customer! So you can't swap - and to make matters worse, your next application for credit is rejected as well. Unless utility searches are regarded differently from those carried out by real lenders then this is a problem.
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