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has my friend done severe damage to credit rating?

my friend wanted to start stoozing. told her to apply for egg money not egg card. she applied and egg computer would not accept her current account details even though correct. she tried many times and kept hitting submit button. egg computer said they needed her permission for them to search bank account and she clicked yes to this but then computer would still not accept account details. she phoned egg who said to try one of her other current accounts which was accepted but credit limit only about 10% of income. seems very low. she asked egg whether when she hit submit button they did credit searches- too many in short spell can damage credit rating. egg said no they only search after application completed correctly. is this true? friend not convinced and worried. she wants to apply for another credit card and use egg money as mule to move money to account to gain interest etc. is it safe to apply for another card- if not how long must she wait. good credit rating until now.

Replies

  • MrChipsMrChips Forumite
    982 Posts
    Part of the Furniture 500 Posts Combo Breaker
    If she checks her credit report, she will be able to see how many times they searched for definite.

    She can order it from one of the credit rating agencies for £2, or sign up for one of the online search facilities (with a month's free trial).
    If I had a pound for every time I didn't play the lottery...
  • The_BossThe_Boss Forumite
    5.8K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    What egg said is true.

    The check is only done at the end of a completed application.

    So because your friend couldnt complete their application, no checks would have been done.

    However, as said above, request a copy of your credit report. If any searches have gone on, then put an appeal in writing to Experian explaining the situation. They will write to egg for confirmation, which should happen.
  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    ...but credit limit only about 10% of income. seems very low.
    A high credit limit on Egg Money may impact on the credit limits given by cards that really matter, ie 0% BT cards.

    In my opinion, the ideal credit limit on Egg Money is 50 days normal spending plus a small safety margin. Does the '10% of income' credit limit not cover this?
  • yes the 10% 'income' credit limit does cover this. thanks
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