Acceptedfor credit good?

Bspell1

I wanted to check if I was eligible for credit for finance on a car so I applied online and was accepted.

I may or may not go with the same company but could this have an adverse effect on my file if I'm shown to be applying for credit multiple times from 2 different lenders in the space of a week even if it's positive?

Thanks for any advise!

[Deleted User]

Numerous searches will start to deter some lenders.

MSE_Chris

Bspell1 wrote: »

I wanted to check if I was eligible for credit for finance on a car so I applied online and was accepted.

I may or may not go with the same company but could this have an adverse effect on my file if I'm shown to be applying for credit multiple times from 2 different lenders in the space of a week even if it's positive?

Thanks for any advise!

Using price comparison websites creates a "soft search" on your credit file - this can't be seen by lenders and allows you to get multiple quotes. For example, using our MSE eligibility checkers for credit cards and loans.


However, if you go through the application form and are accepted/rejected, this will leave a "hard search" on your credit file - this can be seen by lenders. Based on what you've said, it sounds like this is what you've done - however, if you decide to go with a different lender, make sure you cancel any current applications using the 14 day cooling off period - check with the lender about this.


So make sure you're just getting quotes and not actually completing any application forms until you're certain you want to use that lender.