Previous Credit Searches

willmuse

Hello,

My name is William! Nice to meet you all!

I have a few question and I hope I have posted in the right area of these great forums!

Basically, Before I researched about credit ratings I applied for a loan ( I currently have 3 credit cards, both with 5000 pound limits and one with about 3000 pound owed to it). I was turned down for a loan, but stupid me. Must have applied with about 7 or 8 different companies - all to be turned down. After researching and realising that credit searches affect your score, I was wondering how long these stay on your file? (fingers crossed that it's not 5 years like the dreaded missed payments)

Any info would be very very much appreciated. I look forward to hearing from you guys!

Will x

[Deleted User]

They'll stay there for 6 years. But will be of rapidly decreasing importance afer a few months.

willmuse

How many months would you say I should wait until I try again? Many Thanks

jonesMUFCforever

At least 6.
You already seem to have a long line of credit can we ask why you want more?

[Deleted User]

I'd give it 6 months. And ensure that everything else is up to scratch on your file in the meantime.

Worth noting that as you already have 15k of available limits, depending on your income, you may be hard pushed to get any sort of loan, as your will have a lot of available credit open to you. You may want to close one of the cards.

OneLife_OneShot

They stay there for 6 years but I think only the past 12 months are visible to lenders searching on you.

Refereing to my Experian report :

"Previous searches show the names of organisations that have seen or used some or all of the information recorded on your credit report within the past 12
months. Searches of your credit report should all have been made with your consent. Most will relate to credit applications you have made but some may be
routine checks by your lenders on accounts you already have. Quotation searches (including those made via price comparison websites), unrecorded
enquiries, identity verification checks and credit report applications are shown on your copy of your report but are not seen by lenders and are not
taken into account when making credit decisions."

UsetheFORCE

EXPERIAN is 12 months
EQUIFAX is 12 months
CALLCREDIT is 24 months


Searches in the last 6 months are the most important.