Does a credit check lower my rating

kkid

I read online that credit checks damage a credit rating slightly. Is this only if the check is done by a company like a credit card company or a bank?


Would be doing a personal credit check via Equifax or Experience damage my rating?

kkid

Just looked through equifax and it turns out they DO damage it but only extremely slightly and even then only if you are doing lots and lots of checks as this indicates fraud apparently.

I have no fear of my single check causing issues now though.

kkid

I just did a credit check and no score came up for me?

Does this mean that there is not enough data on me to assess my risk?

matttye

You don't have a central "credit rating." Each credit reference agency will score you, but lenders don't get to see any of those scores. Lenders will score you in their own way.

It's the information contained within your credit files that's important; not the score. You shouldn't pay any attention whatsoever to the scores.

Hazzinho

Multiple credit applications in a short space of time will damage your credit short term, credit can take a few months to appear so lenders don't know if you've been accepted for a mountain of credit or are just desperate and had multiple rejections.