refused cataloque!!

aaroncaz

Was told to get my credit file! Will this refusal go on my credit file, like a refusal of a card or loan? It was Littlewoods.

immoral_angeluk

It won't show as a refusal. It'll show as a search but too many searches and lenders will think you're desperate for credit.

aaroncaz

ok, thanks for that, i suppose a credit card refusal would show as a refusal, and not a search? sorry to be so dim!

CLAPTON

no...only the fact that there was a credit search is shown and not the result.

aaroncaz

CLAPTON wrote: »

no...only the fact that there was a credit search is shown and not the result.

right, thank you, i didnt know this, and i suppose successful applications for cards show up as that?successful!

CLAPTON

no only the fact there is a credit search is shown..

aaroncaz

Thank you, im sorry to be so dim, i just thought there was more to it, than just showing a search!! but now i know!!

SemperFi

How long do searches stay on for? Sorry to hijack

aaroncaz

SemperFi wrote: »

How long do searches stay on for? Sorry to hijack

No, that's a good question!!

Warriorsith

Dependant but normally 6 months but can go up for 12 months.

All credit checks will show up as a Search.

Any 'Credit' you gain will set up an 'account' on your credit file, the average account number is 6. An account is somethink like a catalogue account, a credit card, loan account or anythink you gain on HP (Hire Purchase).

Each month your accounts will be updated (or they should be). If you made a repayment on time a '0' will appear on the month, if your late by a month an '1' will appear, 2 months late and a '2' appears and so forth, if your account is 3 months or more in arrears you could 'default' the account meaning your not good at repaying your 'accounts' and makes your credit file worse and lowers your rating. If then you applied for credit the chances of getting any applied for credit will be slim. If you close your account it will still be on your recorded for up to 6 years. That too is the length of time most information stays on your file (except for searches which as mentioned are on for 6 - 12 months).

To ensure you have a good credit file make repayments on time, register yourself on the electrol roll and most of all ensure you don't have too many accounts, and don't apply for loads of credit ie catalogues, loans, credit cards.

Once you have a poor file it takes years to sort out and no one can help you (unlike some companies say they can).

I hope this helps you, but when you get your file from Equifax, Experian or CallCredit it will include a booklet explaining all that to you.

Northernbird_2

Credit searches drop off after 12 months.