moneyextra.com and credit searches

kaz0705

I was messing around earlier looking at loans (which I know are bad and I shouldn't be thinking about consolidation but... well one monthly payment sounds so appealing!)

Anyway, moneyextra.com said that they can do a 'soft' search and give a response and came up with Nationwide. I have no intention of trying Nationwide but I then got a text from 'Unsecured Loan Company' and then two calls (didn't answer the first one).

The girls said they just wanted to confirm some details on the loan application I made and then give me a response. I told her I didn't want a loan and to remove me from their records.

I am *assuming* that moneyextra have just sold on my details or whatever to this company and I haven't actually now got a search on my file? I knew there was a link somewhere on here that gave you a 'soft search' option so I assumed moneyextra would be ok.

Can anyone shed some light on the website at all? did a google search but nothing came up...

Thanks!

bottleofred

Hi,

I've never heard of moneyextra.com and assume they may be a broker who put people in touch with potential loans/credit services. However, I'll bump this up and hopefully people with more knowledge than me can help. I would not worry though, as you need to give your consent for a credit check to be carried out.

Hannah_10

They're talking carp, "soft search" my arts.

Oh and on thier privacy policy page it says....

How do we use your data? The nature of our service means that from time to time we have to share your personal data with our affiliates who provide the products and services that you request. For instance, if you want to apply for a particular financial product after using the comparison service or simply require more information about it, we will pass your relevant personal data to the product provider in order to fulfill your request.
Occasionally, we may also contact you by phone, e-mail or otherwise to inform you about products and services which may be of interest to you. However, if you prefer to opt out of such direct marketing activity, please either call Moneyextra.com Ltd's Customer Services team on 0845 077 7085, email us or let us know by any means convenient for you so that we may remove your personal data from our marketing database. However, please remember that by opting out, we will not be able to contact you about products or services that may benefit you.

Those red bits sound good on first look don't they... Read again and you'll find no mention that they'll ONLY pass your data when you want to apply.



They're set up to look like a comparison site, but I think they could be a broker. This is to say they generate customers for loan providers. That "soft search" is a way of making you think you've passed and been approved for a loan of £x with x provider, when in reality you haven't at all, you're just being invited to apply. It's dodgy but not strictly speaking a scam unless you're then told to hand over an admin fee before getting the paperwork- if you're asked to pay any money run for the hills, it's a known scam.

kaz0705

Thanks Hannah- that's useful. I'll make sure I email them so they can remove me from their database.

Reading the excerpt that you've quoted, think i did just use their 'comparison service' so am not too bothered- probably about time I checked my credit report again though so will report back if I have been searched by them.

Thanks :-)