How long to wait before allowing new searches on your credit rating??

pjackson_3

Never had any problems with getting the lowest rates advertised on loans untill last year when I applied for a new personal loan.

Instead of getting the the usual 6.4% or there abouts, I was quoted just over 10%.

Like an idiot I tried 2 other companies which of course was loading up my searches and possibly doing some damage.

I havent got to the bottom of the high percentage rate yet, though I do wonder if it is possible to get penalised for early payoffs of previous finance deals? All the quotes given came out exactly the same??

But the real question now is how long should it take for all those previous searches by different lenders etc to not effect any further credit searches in future.

Loan was taken in early 2006

Thanks

jay78

Searches are usually removed from your credit file after 12 months.
If you are concerned as to why your getting higher apr's check you credit file before apply for credit again.