Credit Checks

farhadhussain

I have got 2 credit checks in the past 6 months..i want to apply for a new credit card but just want advice that whether if i apply and get a 3rd check, do i have a chance of getting credit, because i have heard that more than 2 in checks in a period of 6 months adversely affects your credit score..any advice on suitable cards will also be appreciated..thanks.:beer:

happyfox_2

You'll find the answer to your question on Credit Report FAQ - see http://www.creditreportfaq.co.uk Lots of useful information.

They have a link to one of the credit agencies but it tells you information about all of them and how they work. In your case it depends on whether you mean you have been applying to check you own credit report twice in 6 months, which has no influence, or you have gone through full application processes with different lenders twice in 6 months and you assume they are checking your file. There is more information about this on the website.

BedSox

Hi, I was wondering if having too many or too few credit cards might be an issue? If it does affect your credit score, has it changed during the credit crunch? Is having credit cards seen as a bad thing now? Thanks for any advice.

happyfox_2

I don't think so. The Credit Report FAQ site explains how lenders decide on giving you credit - creditreportfaq.co.uk

noah271007

Where did you get the info from saying you only search up to 4 a year without affecting your credit file? It is nonsense. I would say roughly per year it is fine to have up to 10-12 searches maximum without affecting your credit file but NO more than 4 searches in 3 months period -therefore it is important to spread out over the course of the year.
Therefore to answer your question, go ahead and get your file credit checked. Then leave it for 4-6 weeks before trying again. Remember to have spaces over the year in applying credit!

Molonox

I don’t think you can put a figure on it. Are you checking your own credit report, or are you applying for credit accounts?

samjl

well I checked my file on experian the other day and I've now got a poor credit score.....never missed a payment in my life and have 3 cards all with plently left on them....but it says as I applied for credit 3 or more times in the past 6 months (3 were for cards asI was declined twice, the rest were for car insurance which I didn't even realise was recorded :mad: ) which has adversely affected my score. I'm closing my unused cards now to try and bring the score up a bit.

so if I were you I wouldn't risk it!!

Moggles_2

Searches associated with car insurance online quotes are classed as unrecorded enquiries. These are shown for your information and are not seen by other lenders

farhadhussain

I mean i have applied to 2 different lenders on 2 different occasions within 6 months..do u think i should go ahead and apply for a credit product or should ii leave it for some time.. the last one i applied was Virgin in january and they declined..appealed..rejected..
now im thinking of applying for Sainsbury's card, because apparently it uses only experian, where i got a fair score, no defaults,no miissed payments.. nothing adverse..12 previous applications in the past year.. and it also does personal pricing which means they have 3 different APRs to offer, from 16.9 to 20.9, so im hoping i will atleast get accepted on the latter..

Molonox

As well as appealing the Virgin decision did you actually ask them why they declined you?

farhadhussain

yeah..i asked them that i didnt have any adverse effects on my report..then what was the reason..all i got was the same sort of letter saying ur appeal is not succesful..