Experian Loan checker leaves a footprint

HampshireLyn

Despite the well meaning suggestion to use the loan/credit offers checker on the Experian app with no impact to credit score, i recently checked this out to see what the going rates were on loans as i have a long standing loan at a rate over 10%. So i had a little look on my app a couple of times to see what percentages would come up in this current market and how much over the norm my rate is.  It was interesting and came up with a couple of automatic approvals and rates of 2.6 - 6.6 %, not bad. Didn’t do anything further about this as i know that once making an application (for whatever reason) could dint my perfect 999 score and i may need to keep this for work referencing checks.  A week later i have a notification that my credit score dropped a stack of points and that 4 companies i have never heard of show a search on my report due to a ‘loan application’ which i had not met. I challenged Experian who put most of the points back on and looked into my question, with a response that there was nothing that could be done about the loan companies search or wording in relation to the search. So I now have searches on there which would not go down well in reference checking and could impact any future refinancing. Surely there needs to be stronger warning about using such a tool as it clearly has impact just to look at it.

[Deleted User]

Don't worry about the missing stack of pretend points. They're of no relevance to anything and no one but you will ever know.

Are the searches hard or soft? If soft, they're not visible to anyone but you and are usual for an eligibility checker.

The_Fat_Controller

Have you checked the other CRAs ?

Your fictional scores there may also have changed on their sites.

If the score was really of any value calling Experian and asking them to remove the "footprint" and restoring points would not be allowed as the searches have actually taken place.

The TV ads showing how to improve your score by linking your current account and boosting it should be banned too as unlike the US, our fictional scores have no real standing.

MEM62

HampshireLyn said:

I know that once making an application (for whatever reason) could dint my perfect 999 score and i may need to keep this for work referencing checks.  

You do not need a 999 score for anything.  Least of all a work referencing check.  

[Deleted User]

Credit checks for references use the same process as lenders do i.e. never see the fake score, they look at the data on the file, things like CCJs, defaults etc particularly for security clearance or for financial positions.