What do lenders see with a soft search?

Legacy_user

So I know the difference between a soft (or "quotation") search and a hard search and how they impact or don't impact your credit file.

However, When a lender does a "quotation" search. What do they actually see? Do they see your credit accounts? who they are with? your repayments? or do they just verify your name?
I can't find this information anywhere.

[Deleted User]

https://www.google.com/search?source=hp&ei=xkxJXeqVEojQaY6nnKAC&q=hard+search+vs+soft+search&oq=hard+search

System

!!! wrote: »

https://www.google.com/search?source=hp&ei=xkxJXeqVEojQaY6nnKAC&q=hard+search+vs+soft+search&oq=hard+search

I have googled.... I couldn't find the answer. I only find what impact each has on your file.

[Deleted User]

What is a soft credit check?
A soft credit check occurs when you check your own credit score or when a company checks your credit score as part of a background check. This could include banks, lenders, retailers or landlords. Soft credit checks are recorded on your report but do not impact your credit rating.

Companies that want to pre-screen clients, prior to a full credit application will often conduct a soft search first. A soft search returns basic information and is more of a background check auditing details such as the applicant’s home address, date of birth etc. and if these details match what they have been told from the customer then they will process the application through to the next stage.

System

!!! wrote: »

What is a soft credit check?
A soft credit check occurs when you check your own credit score or when a company checks your credit score as part of a background check. This could include banks, lenders, retailers or landlords. Soft credit checks are recorded on your report but do not impact your credit rating.

Companies that want to pre-screen clients, prior to a full credit application will often conduct a soft search first. A soft search returns basic information and is more of a background check auditing details such as the applicant’s home address, date of birth etc. and if these details match what they have been told from the customer then they will process the application through to the next stage.

"applicant’s home address, date of birth etc. and if these details match what they have been told from the customer"

So probably not your credit accounts or payment behaviour at all? If I am reading that correctly?

So how on earth can they say "you are 99% likely to get this card" when they have no clue what is in your credit file??

MovingForwards

It shows CCJ'S and bankruptcy.

Perhaps you are better off saying what your concerns are and what finance you are thinking about.

System

MovingForwards wrote: »

It shows CCJ'S and bankruptcy.

Perhaps you are better off saying what your concerns are and what finance you are thinking about.

Neither, I am just genuinely curious.

stevenhp1987

What the lender sees in a check is dependant on their organisation type.

If we take a bank as an example then they will see everything the same for a soft search as they would a hard search. All accounts (without bank name), account type, limits, payment history etc.

This is how they can give you an x% likelihood of acceptance.

As it's not a full application, they don't have to mark it as a hard search. Only applications need to be performed with a hard pull of your report.

Whereas some other companies may only be authorised to perform identity checks (e.g. when your employer confirms your identity) which would only confirm the name, address etc. match up.