Does who you hold a CC with have an impact

funkycredit

No typical BNPL things are fine as they're recorded as Store Finance (other credit). A payday loan is identified as just that - short term lending. It's definitely different for a PDL. 

I also have AO / PayPal / Next / Argos finance plans and use them for the deals offered and pay off much faster. Never affected my credit in any shape or form. 

Alex9384

sleepyjones said:

How do lenders know if you've had a payday loan then if they can't see who the creditor is?
Are they listed differently to "normal" loans?

I think they are in a different section of your credit report, under Short term debt.

femalemonarchfemalecanine

sleepyjones said:

hmm ok,  I had finance recently for a new sofa and paid it all back within 3 months as it was interest free if you pay it back within 15 weeks.  Now I'm wondering if that'll look bad on my file, but not trying to hijack this post,  was just curious.

I had a sofa on 0% over 18 months - didn't harm my ability to get credit. that was with creation finance I think

funkycredit

femalemonarchfemalecanine said:

sleepyjones said:

hmm ok,  I had finance recently for a new sofa and paid it all back within 3 months as it was interest free if you pay it back within 15 weeks.  Now I'm wondering if that'll look bad on my file, but not trying to hijack this post,  was just curious.

I had a sofa on 0% over 18 months - didn't harm my ability to get credit. that was with creation finance I think

It's got to help. After all, Creation is a prime lender so although their name isn't visible, it's still obvious with the APR and special terms deal shown - as in its clearly prime credit (it'll read like - Promotional Rate {Y/N} then the Period {18*} which confirms its not sub-prime or PDL related)! 

bermudianmark

I think lenders are more interested in the big picture, how much debt you have, how you manage it, if you have defaults, rather than too much granualar detail.

Fighter1986

• Lenders can't see the name of the company providing any of your credit agreements
• Lenders can see the type of account each agreement is (Credit Card, Communications, Loan, Bank account, etc)
• Lenders can identify payday loans as they appear on your credit file as "Short term loan"
• An account which identifies it as "Loan" or "Hire Purchase" or similiar, which is paid of quickly, will not be misinterpreted as a PayDay ("Short Term") loan
• Lenders cannot see what APR you are being charged by other lenders