If you apply for a CC-how long before data shows for other lenders

Star-Light

Say for instance I got a card on November 27th...Made few purchases and few cash withdrawals. Then I apply for another card on 7th December, would their credit check show information about my previous application?

also when does your credit score start to go down once you start using your card, and would that reduction in score show up to other lenders after 2 weeks of using your first card?

cheers.

[Deleted User]

It would depend on when the first card reports to the CRAs. But the search would be visible.

Ignore anything your score does. No one sees it but you and it is fairly meaningless.

CLAPTON

Star-Light wrote: »

Say for instance I got a card on November 27th...Made few purchases and few cash withdrawals. Then I apply for another card on 7th December, would their credit check show information about my previous application?

also when does your credit score start to go down once you start using your card, and would that reduction in score show up to other lenders after 2 weeks of using your first card?

cheers.

too many credit searches in a short time will usually have an adverse effect on further credit applications


sensible use of a CC will, in general, enhance your ability to get further get credit


cash withdrawals will show on your credit reports and will usually have a negative effect (as well as costing you fees and interest)


to enhance your credit worthiness, use your CC regularly, pay in full each month and don't withdraw cash

Quimoi

I don't think it's been said yet so -

With the dates you have given - the first credit search will be visible when you make the second application. Whether the first application was accepted or declined would not be shown and any balance or cash purchases equally would not show by then.

As zx81 says, the credit score of any CRA is meaningless and isn't shown to a lender checking your file.

Pincher

From a software standpoint, I expect it's just how frequently the database does a commit and re-generates the search index. Half an hour?

Star-Light

Am wondering if me having Capital One card has anything to do with other lenders such as Nationwide declining me? mind you I got accepted by nationwide 2 weeks ago,but due to a name issue I had to withdrawa application and re-apply, this time I was declined-telling me my score was low.. So am guessing 2 weeks of having a Capital One card and doing some ATM withdrawals have come on my file and knocked my score? or can it be something else, such as the word/letter change of my surname, which makes my credit file look different somehow?

can anybody tell me if am on the electoral roll/register prior to name change-would I also still be on the electoral roll after name change? the change of name is based on 1 word/letter, everything else is same such as age and address..

p.s capital one has me down as the name which I have now i.e. passport name.. so am guessing I have same credit file either with name change and prior?

Tixy

You really need to get a copy of your credit files rather than speculating as to what they may or may not be able to see, or guessing what is on it.

Certainly having a recent credit application search on your credit file will be taken in to account when they make their decision.
This could be enough to make them decline you this time when they accepted you previously, or enough for them to offer you a lower credit limit.

The capital one credit card cash withdrawals won't be visible on your credit file yet if they happened in the last 2 weeks, but once they are then it is likely to be seen as a negative by other potential lenders.

Star-Light

So basically you only need 1 credit card for even your own bank to decline you?

am just wondering the figure/quote they gave me..Is it true the lower the figure the worse the credit file? I mean I got 1k and not £500 as some people, does that mean my file cannot be "that" bad? can it also mean the same file came up as the previous time when they did my credit search?

Tixy

Star-Light wrote: »

So basically you only need 1 credit card for even your own bank to decline you?

Not at all. Generally having existing well managed credit accounts makes it easier to get accepted for new products.

Star-Light wrote: »

am just wondering the figure/quote they gave me..Is it true the lower the figure the worse the credit file?

Not necessarily. The limit is also based on your financial circumstances / your income / debt levels etc, not just on what shows on your credit file.
E.g. someone earning less than £10k a year with a very good credit history could be offered a lower limit than someone with a £40k income and a few missed payments.

Star-Light

I still really don't get why my own bank Nationwide declined me after accepting me few weeks ago..Nothing changed other then change of name by just 1 word or letter...Unless within the last few weeks my file shows me using my Capital one card for some ATM withdrawals, but I've been told they don't appear that early in credit files..

The result was they said I have a low credit score, now whether that low score is based on my recent transanctions with Capital One I don't know.

Or maybe I am not suppose to re-apply? I withdrew my application before it even was set up because of the ID/name issue. Maybe the search they did the first time went against me? but I re-applied under my new name, unless same file and search came up for both names?

am thinking maybe I have 2 different files, one prior to name change and other one post-name change.