Snoopers into your credit ratings

Enigma_Code

LV some weeks ago, went and did a soft search on my credit score. I have a policy with them which is due for renewal. I have made no claims on the insurance, and I pay annually. I have also found over recent days that Royal Bank of Scotland has also done this. No explanation, no reasoning, no request for my permission to do so.

I feel VERY uncomfortable with this, especially as I have no credit with either of them and I don't pay LV via DD. I'm still working through my stuff as to the reason why RBS should be doing such credit searches but this big brother/Orwellian way of searching your credit rating for no reason is worrying me.

Is this the norm these days? Is this happening to other people? Have you had similar complaints? I have a good credit rating but I'm not prepared to share this info unless my authority is given and I can't see anywhere in the small print that I authorised such credit searches with Experian.

Can you advise?

Many thanks.

[Deleted User]

Yes, it's the norm. The most common way of authorising soft searches is via aggregators and, of course, via your existing agreements. 

You may believe you have a good credit rating, but it's the credit provider who decides that for themselves. Soft searches give them a small indication or are for ID.

400ixl

For quite a few years now part of the calculation for your motor insurance quote has been based on your credit file. A check is done not only for affordability, but also to evaluate how much of a risk taker you are which your credit history can reveal an insight into.

Grumpy_chap

At least the OP could identify who did the search and even make the link that it is to do with an insurance policy that is up for renewal.

I do think that whoever requests a search should be easily evident, rather than the ability to hide behind the cloak of an obscure company.  I just checked my file this morning and there is a search on Saturday from Symphonic Solutions Limited.  Who are they and why are they searching my credit file?