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Changing energy supplier could affect your credit rating
SuzieSue
Posts: 4,109 Forumite
I've just seen a episode of Rip off Britain which featured someone who regularly changes his energy supplier.
This time he changed to NPower I believe. However, they did 2 hard credit searches on him and that resulted in him being rejected for a credit card a few weeks later.
They said that 3 companies do hard credit searches at the moment, NPower, British Gas and Eon, from what I can remember.
I just thought I'd warn anyone who might be affected.
I have also posted this on the Energy and Credit Rating board.
This time he changed to NPower I believe. However, they did 2 hard credit searches on him and that resulted in him being rejected for a credit card a few weeks later.
They said that 3 companies do hard credit searches at the moment, NPower, British Gas and Eon, from what I can remember.
I just thought I'd warn anyone who might be affected.
I have also posted this on the Energy and Credit Rating board.
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Comments
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Correlation is not causation
A search from an energy company would not automatically mean a credit card application is rejected. Someone who jumps around energy suppliers almost certainly shifts balances around credit cards or moves current accounts (or other money making tricks) - there will be much more to it than thatSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Thats very strange as ive switched to BG couple months ago and ive not had any searches show up on experian or equifax0
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Why isn't this on the Credit Rating board?
Neither of the potential causal factors seem to relate to credit cards.0
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