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Credit Searches on file: How many is too many?
mynameisdave
Posts: 1,284 Forumite
in Credit cards
How many credit searches on file is too many to be considered for credit?
Last time I looked I had 3 searches. I'm not sure what one of these was (possibly contents insurance renewal) but I know the other two were for a job, and for a credit card. The job one should was now more than 12 months ago, so should no longer show.
In the coming months I need (as much as can be *needed*) to apply for a mortgage (fixed deal coming to an end) credit card (0% interest free coming to an end) and ideally would like a new phone. Obviously this is at the back of the queue but a phone without a backlight for 9 months is quite annoying! Normally it wouldn't be a problem as I'd stick with my own network but fed up with them so changing will probably mean a new credit search.
Just been offered an interview tomorrow for a job that would require a credit search so this is going to leave a footprint, and I am wondering what order to tackle the next two in.
There is no way that the CC can be apid off with employment from October, November and December even if I got the job.
The mortgage rate actually drops when the fixed ends, but I dont want to stay on the variable rate for too long. Not bothered about getting a deal right away if there is nothing suitable but dont want to wait a couple of months then get refused because I'd taken the CC in the meantime.
By the end of it I could have 5 searches on file in 4 or 5 months - how would this look to a lender with no defaults or late payments in the past?
Last time I looked I had 3 searches. I'm not sure what one of these was (possibly contents insurance renewal) but I know the other two were for a job, and for a credit card. The job one should was now more than 12 months ago, so should no longer show.
In the coming months I need (as much as can be *needed*) to apply for a mortgage (fixed deal coming to an end) credit card (0% interest free coming to an end) and ideally would like a new phone. Obviously this is at the back of the queue but a phone without a backlight for 9 months is quite annoying! Normally it wouldn't be a problem as I'd stick with my own network but fed up with them so changing will probably mean a new credit search.
Just been offered an interview tomorrow for a job that would require a credit search so this is going to leave a footprint, and I am wondering what order to tackle the next two in.
There is no way that the CC can be apid off with employment from October, November and December even if I got the job.
The mortgage rate actually drops when the fixed ends, but I dont want to stay on the variable rate for too long. Not bothered about getting a deal right away if there is nothing suitable but dont want to wait a couple of months then get refused because I'd taken the CC in the meantime.
By the end of it I could have 5 searches on file in 4 or 5 months - how would this look to a lender with no defaults or late payments in the past?
0
Comments
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I doubt very much that the job search would be a full credit search but more of an identification check, so not seen by lenders but only you and the same for the insurance quotation, is only considered as full search when applying for a credit card, current account, loans etc....
Having 10 to 12 searches in a year is quite normal as long as they all are well spread out during the year, most lenders disregard searches which are 6 months old....0 -
Unfortunately it is for a financial institution so I am expecting it to be a full search, but the rest is good news.
Thanks0 -
Employment searches are full searches if it's a financial institution. There's a specific search type for this, which has no bearing on your credit rating.#0
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