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  • FIRST POST
    • Debtor_Charlton
    • By Debtor_Charlton 27th Nov 17, 9:32 PM
    • 5Posts
    • 1Thanks
    Debtor_Charlton
    Credit Search Acronyms (CALLCREDIT)
    • #1
    • 27th Nov 17, 9:32 PM
    Credit Search Acronyms (CALLCREDIT) 27th Nov 17 at 9:32 PM
    Hello,

    Could I please know if I am correct about these CallCredit search types:

    Checking Credit Application: I assume this is a credit application search and is the one which will show to other lenders?

    Administration Review: A review of my details - can a lender see this?

    Money Laundering Product: I assume this is an identity check to comply with regs? Can lenders see this?

    Identification Product (Credit): I have no clue, is this another type of credit search that lenders can see?

    Quotation / Preliminary Search: This is what 'soft search' checkers place on your credit file and lenders cannot see it, right?


    Your clarification on these would be brilliant, particularly which ones can be seen by lenders and can damage your credit worthiness if there's too many.
Page 1
    • zx81
    • By zx81 27th Nov 17, 9:37 PM
    • 14,397 Posts
    • 15,194 Thanks
    zx81
    • #2
    • 27th Nov 17, 9:37 PM
    • #2
    • 27th Nov 17, 9:37 PM
    Yes, no, no, no, no.
    • Debtor_Charlton
    • By Debtor_Charlton 27th Nov 17, 9:40 PM
    • 5 Posts
    • 1 Thanks
    Debtor_Charlton
    • #3
    • 27th Nov 17, 9:40 PM
    • #3
    • 27th Nov 17, 9:40 PM
    Yes, no, no, no, no.
    Originally posted by zx81
    Thank you.

    If you make a mistake and get too many of the first search type on your credit file, will it damage you long-term or only in the short-term, as long as you stop making credit applications for a while?
    • cjmillsnun
    • By cjmillsnun 27th Nov 17, 9:41 PM
    • 353 Posts
    • 225 Thanks
    cjmillsnun
    • #4
    • 27th Nov 17, 9:41 PM
    • #4
    • 27th Nov 17, 9:41 PM
    Checking Credit Application: Application for credit. Hard search.

    Administration review: update details. Soft

    Money Laundering: Compliance check. Soft

    Indentification Product (credit) - don't know - suspect soft.

    Quotation / Preliminary Search: This is what 'soft search' checkers place on your credit file and lenders cannot see it, right?
    yup
    • zx81
    • By zx81 27th Nov 17, 9:42 PM
    • 14,397 Posts
    • 15,194 Thanks
    zx81
    • #5
    • 27th Nov 17, 9:42 PM
    • #5
    • 27th Nov 17, 9:42 PM
    It's fairly short term, unless you're applying month after month.
    • cjmillsnun
    • By cjmillsnun 27th Nov 17, 9:43 PM
    • 353 Posts
    • 225 Thanks
    cjmillsnun
    • #6
    • 27th Nov 17, 9:43 PM
    • #6
    • 27th Nov 17, 9:43 PM
    Searches don't damage your credit file per se. They give an indication that you have been applying for credit. That obviously affects how lenders perceive your risk. Searches have a negligible effect after a few months.
    • Debtor_Charlton
    • By Debtor_Charlton 27th Nov 17, 9:51 PM
    • 5 Posts
    • 1 Thanks
    Debtor_Charlton
    • #7
    • 27th Nov 17, 9:51 PM
    • #7
    • 27th Nov 17, 9:51 PM
    It's fairly short term, unless you're applying month after month.
    Originally posted by zx81
    I had a bad cash flow this month, so I applied for Wonga; Sunny; Satsuma (who accepted me), MyJar and Clydesdale bank. I admit that is a stupid thing to do, but hopefully the damage will reduce after a month or so, as I will not be applying for further credit, now that my cash flow is back to normal again from 1st December.

    I only got accepted by Satsuma, the rest were declined. A mixture of high credit utilization, occupation type (student) and probably the fact I have previous searches on file from Sept + Oct. Satsuma were very nice and offered up-to £800, but didn't take the pi** with them, so I took well below the offered amount to show I am not too desperate for cash.
    • 611
    • By 611 3rd Dec 17, 10:38 AM
    • 191 Posts
    • 92 Thanks
    611
    • #8
    • 3rd Dec 17, 10:38 AM
    • #8
    • 3rd Dec 17, 10:38 AM
    Having a payday loan on your credit file shows that you were desperate for cash and it will stay there for 6 years. If it's not too late, withdraw from the loan under the 14 day cooling off period before repaying it, then ensure they remove the account from your credit files.
    • tenchy
    • By tenchy 3rd Dec 17, 6:02 PM
    • 164 Posts
    • 31 Thanks
    tenchy
    • #9
    • 3rd Dec 17, 6:02 PM
    • #9
    • 3rd Dec 17, 6:02 PM
    Yes, no, no, no, no.
    Originally posted by zx81

    Does someone carrying out a soft search see your full report?


    Does someone carrying out a quotation search see your full report?


    Does someone carrying out an administration review see your full report?


    Does someone carrying out anti-money laundering enquiries see your full report?


    If any one of these doesn't see your full report, what exactly, do they see?
    Last edited by tenchy; 03-12-2017 at 6:02 PM. Reason: typo
    • DCFC79
    • By DCFC79 3rd Dec 17, 6:52 PM
    • 30,425 Posts
    • 19,232 Thanks
    DCFC79
    I had a bad cash flow this month, so I applied for Wonga; Sunny; Satsuma (who accepted me), MyJar and Clydesdale bank. I admit that is a stupid thing to do, but hopefully the damage will reduce after a month or so, as I will not be applying for further credit, now that my cash flow is back to normal again from 1st December.

    I only got accepted by Satsuma, the rest were declined. A mixture of high credit utilization, occupation type (student) and probably the fact I have previous searches on file from Sept + Oct. Satsuma were very nice and offered up-to £800, but didn't take the pi** with them, so I took well below the offered amount to show I am not too desperate for cash.
    Originally posted by Debtor_Charlton
    Had a bad cash flow, what was the reason for it. Will it happen again ?

    Maybe look at your spending and cut back to build up a savings pot you could use when you have another bad cash flow.

    Debt free wannabe board might be a place to start.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
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