Confused re credit searches and rates

jen_a_c

Hi,

I've had rate increases on a couple of cards recently (both of which I have subsequently 'opted out' of, to avoid).

In the information that comes with the rate notification, it is stated that (can't remember exact wording) they may use information from credit reference agencies to assess risk. Does this mean that lenders with whom you already have an account can make multiple searches once your account is open? Is this another credit 'score' or are they just looking for defaults, CCJs etv (none of which I have). If so, when you open an account are you authorising them to do this, and does it impact on credit score?

Thanks

GeorgeUK

You need to give permission for someone to do a credit check on you. This is usually done when you open an account that gives you credit. They shouldn't do a credit check on you again after this as far as i am aware.

jen_a_c

I really cant see how they can put rates up based on credit file info then??