Credit Searches ? How many can they perform ?

exel1966

I recently obtained details of my credit report from Experian on a free trial basis and am a little dismayed to find multiple searches by the same organisations.

Applied for an HSBC c/card which has taken forever to process due their inefficiency and noticed they have now performed 3 searches for a single application - 15/12/05 , 23/01/06 and 25/01/06 even though i received approval for the card on the 18/12/05.

I also renewed my car insurance through Admiral in mid december and have found a search by them, as well as two other insurance companies which I assume are tied in with them even though i renewed via a c/card payment for the full amount.

My questions are : - Can they legally perform these multiple searches as surely this will have an impact on my rating which incidentally is very good. Do I have the right for these additional searches to be removed ?

Thanks

YorkshireBoy

exel1966 wrote:

My questions are : - Can they legally perform these multiple searches as surely this will have an impact on my rating which incidentally is very good. Do I have the right for these additional searches to be removed ?

The first thing to check is are they all 'credit' searches. ie, the insurance searches will probably be generic ID searches which are not seen by other lenders (your credit report tells you this).

I'll be very surprised if all the HSBC searches are of the 'credit' type. I've had multiple searches from suppliers but only one was a credit search - the others were 'generic ID' type searches.

I would have thought that, unless you'd asked for a credit limit increase on activation, there would only be one credit type search.

To answer your question "can they do it?", then the answer is yes they can - and no you don't have a right to have them removed. See your credit agreement/T&C's.

The_Boss

Query them with Experian - I queried why Halifax had done two identical searches on the same day and they removed one of them. I also recently had a Northern Rock search removed as I argued that first time around they took the wrong information, meaning I wouldnt have needed the second search had they done their job properly.

exel1966

Thanks for the replies chaps :-

Having rechecked my credit report it would appear that all the HSBC searches are credit searches for the 1 credit card. Whats even more interesting is that the credit limit I received based upon the first search has been drastically reduced now I've received the card and had 3 searches done.
I am now awaiting a call from HSBC with an explanation of why ?
Surely this cannot be permissable.

The Insurance searches are listed as 'unrecorded enquiries' , whatever that means.

YorkshireBoy

exel1966 wrote:

The Insurance searches are listed as 'unrecorded enquiries' , whatever that means.

They're not seen by other lenders - only by yourself & the CRA.