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HSBC Loan and credit report
Hi.
Can anyone tell me if you apply for a loan with HSBC and then decide not to take it once they have said they will allow you to have the money. Does something get put on your credit report?
Also we are buying a new car and are working out the best way to source £7,000. We have some savings which we were thinking of using and then putting the rest on no interest credit card. Or the otther option was to get a loan from HSBC. It will work out that we pay £500 ish back to HSBC again £300 ish on credit card (including the charges etc).
One other question I have is I applied to my credit card company to have my credit limit raised from £1500 to £2500 but they said they couldn't do it. My credit rating is fine. Are there any common factors they may be giving me this problem. Thanks.
Can anyone tell me if you apply for a loan with HSBC and then decide not to take it once they have said they will allow you to have the money. Does something get put on your credit report?
Also we are buying a new car and are working out the best way to source £7,000. We have some savings which we were thinking of using and then putting the rest on no interest credit card. Or the otther option was to get a loan from HSBC. It will work out that we pay £500 ish back to HSBC again £300 ish on credit card (including the charges etc).
One other question I have is I applied to my credit card company to have my credit limit raised from £1500 to £2500 but they said they couldn't do it. My credit rating is fine. Are there any common factors they may be giving me this problem. Thanks.
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Comments
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If you apply for a loan, and they do a credit search, a footprint will be left on your credit file and will remain even if you don't take it. Bear in mind in any cases of credit searching, the footprint will not say if they accepted or declined you.. just that they searched you, you don't really want them to search you unless you're 100% you're going to take it because too many searches can damage your credit file.I work for first direct and have previously worked for Santander.
Any information I give should not been seen as being given from first direct or Santander however I do have certain knowledge from working there.
Thank you, Chrissy :wave:0 -
Thanks for your reply. As yet they haven't done a credit search that shows on my Equifax report (I have access to it at the moment, I checked it because of the credit card issue) would it show instantly?0
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Thanks for your reply. As yet they haven't done a credit search that shows on my Equifax report (I have access to it at the moment, I checked it because of the credit card issue) would it show instantly?
Are you sure it's Equifax that they use? There are three CRAs used in the UK: Experian, Equifax and CallCredit.
A search normally shows up within 24 hours of it being done - often sooner than that, but I wouldn't like to go so far as to say "instantly"My posts are my own opinions based on my experiences and info gathered from sites such as this.
They are not a substitute for professional financial advice - but you knew that already didn't you?
VSP 2011 - Member #25 - Started 6th December 2010 - Total As Of 4th May 2011 (21 weeks in!) - £323.67/£500 - So far so good!0 -
I don't know. I'm new to understanding credit reports etc. Still trying to work out all the in's and out's.0
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