What lenders actually see...

modder25

Hi all,


I am just wondering whether someone can help me understand what a lender will actually see on your file when applying for credit with them.


For example I have a credit card on file, all payments are up together and always have been, good credit limit, and a low balance etc... would a lender see what company the credit card is with or does it just say credit card account when searching?


I am wondering as I will be applying for credit soon and I have a Vanquis Credit Card, I've had it for many years now but I know it is seen as a credit builder or bad credit credit card etc and I just don't want a lender to think badly of me by seeing the name.


Any info appreciated.


Many Thanks

stclair

Lenders do not see the names of your creditors on your credit report.

It just shows the product type in the instance credit/store card.

modder25

stclair wrote: »

Lenders do not see the names of your creditors on your credit report.

It just shows the product type in the instance credit/store card.

Thank you stclair,


That's good news, I was just a bit worried that they might judge of they saw the names of other lenders on peoples files.


Thanks again

stclair

modder25 wrote: »

Thank you stclair,


That's good news, I was just a bit worried that they might judge of they saw the names of other lenders on peoples files.


Thanks again

You're welcome you'll be fine 😉

Thrugelmir

They'll see your credit utilisation, whether you only make minimum payments, and allied data that will track the trends. I.E. whether you are in essence trading water.

modder25

Thrugelmir wrote: »

They'll see your credit utilisation, whether you only make minimum payments, and allied data that will track the trends. I.E. whether you are in essence trading water.

Hi Thrugelmir,

Thank you for your reply.

I spen between £70-£150 on my credit card each month mainly for fuel and I pay it in full, never the minimum payment.

If a lender can see this pattern then are they more likely to decline my application because they can see that my current credit card company isn't making any money out of me?

Can I ask what you mean by trading water? Never heard this term before.

Many thanks