List of banks with hard vs soft searches for current accounts

pecunianonolet

boingy said:

I've opened three Metro current accounts this year. The first and the third had hard searches. The second one did not. I didn't make much sense

Personally, I think you can worry too much about hard searches. This forum has more than its share of scare mongering on that subject. A couple of searches really do not matter. 

I had 24 hard searches last year so avoiding the odd one here and there certainly does help and has nothing to do with scaremongering. For someone with a fragile credit history it could make a difference. I have made a note on page 1 now.

boingy

pecunianonolet said:

boingy said:

I've opened three Metro current accounts this year. The first and the third had hard searches. The second one did not. I didn't make much sense

Personally, I think you can worry too much about hard searches. This forum has more than its share of scare mongering on that subject. A couple of searches really do not matter. 

I had 24 hard searches last year so avoiding the odd one here and there certainly does help and has nothing to do with scaremongering. For someone with a fragile credit history it could make a difference. I have made a note on page 1 now.

I'm not dissing your thread - it's a useful thing, but you've got to admit 24 searches in a year is at the extreme end of things! We have newbies who come on this forum and get frightened off from anything with a hard search when, in reality, a handful of searches is fine for almost anyone. 

But, getting back to the point, Metro seem to be inconsistent. When I opened the second account I'd already switched away the first one so I had no active account with them and I assumed they didn't do a check because I was already on their system and had a recent relationship with them. However, the third account was in exactly the same situation and they did do a search. 

pecunianonolet

boingy said:

pecunianonolet said:

boingy said:

I've opened three Metro current accounts this year. The first and the third had hard searches. The second one did not. I didn't make much sense

Personally, I think you can worry too much about hard searches. This forum has more than its share of scare mongering on that subject. A couple of searches really do not matter. 

I had 24 hard searches last year so avoiding the odd one here and there certainly does help and has nothing to do with scaremongering. For someone with a fragile credit history it could make a difference. I have made a note on page 1 now.

I'm not dissing your thread - it's a useful thing, but you've got to admit 24 searches in a year is at the extreme end of things! We have newbies who come on this forum and get frightened off from anything with a hard search when, in reality, a handful of searches is fine for almost anyone. 

But, getting back to the point, Metro seem to be inconsistent. When I opened the second account I'd already switched away the first one so I had no active account with them and I assumed they didn't do a check because I was already on their system and had a recent relationship with them. However, the third account was in exactly the same situation and they did do a search. 

Agree with you that newbies might get scared so apologies. Yes, 24 is on a more extreme side with all the bank switches and credit cards I took out for stoozing. Luckily, quite a few have already dropped off and more to come in the next 8 weeks. Should bring the report back to an acceptable level of searches. 

The Metro inconsistencies are indeed strange. They might have changed their processes or specific indicators during the soft search trigger the hard search as they need more info to decide if they offer an account or not. Overdraft is the other thing I could imagine is the trigger. 

Still in any way a reliable source for a burner account.

boingy

pecunianonolet said:

boingy said:

pecunianonolet said:

boingy said:

I've opened three Metro current accounts this year. The first and the third had hard searches. The second one did not. I didn't make much sense

Personally, I think you can worry too much about hard searches. This forum has more than its share of scare mongering on that subject. A couple of searches really do not matter. 

I had 24 hard searches last year so avoiding the odd one here and there certainly does help and has nothing to do with scaremongering. For someone with a fragile credit history it could make a difference. I have made a note on page 1 now.

I'm not dissing your thread - it's a useful thing, but you've got to admit 24 searches in a year is at the extreme end of things! We have newbies who come on this forum and get frightened off from anything with a hard search when, in reality, a handful of searches is fine for almost anyone. 

But, getting back to the point, Metro seem to be inconsistent. When I opened the second account I'd already switched away the first one so I had no active account with them and I assumed they didn't do a check because I was already on their system and had a recent relationship with them. However, the third account was in exactly the same situation and they did do a search. 

Agree with you that newbies might get scared so apologies. Yes, 24 is on a more extreme side with all the bank switches and credit cards I took out for stoozing. Luckily, quite a few have already dropped off and more to come in the next 8 weeks. Should bring the report back to an acceptable level of searches. 

The Metro inconsistencies are indeed strange. They might have changed their processes or specific indicators during the soft search trigger the hard search as they need more info to decide if they offer an account or not. Overdraft is the other thing I could imagine is the trigger. 

Still in any way a reliable source for a burner account.

I'd been wondering how you managed to get 24 in one year as there just are not that many switching opportunities but, yes, I guess CC stoozing would do it. Not something I've ever got into.

I found the credit scoring apps to be somewhat contradictory. On the one hand they were advising me to have fewer hard searches but then the daft score number they give me barely moved as I went from no hard searches to 8 or 9. I know that the score number is generally deemed to be pointless but you would think their own scoring system would better reflect the hard searches if they mattered.

I actually feel a tiny bit guilty about setting up a third Metro account as a future burner but I blame Monzo and Chase for not having me back and Metro just make it so quick and easy. At least I've now placed some savings with them for their 5.22% rate. I'll be completely loyal until someone else offers 5.5%.  

adamp87

I think it’s more the reason for hard searches, whilst they can’t get lots of details I think (perhaps wrongly) they are coded differently, bank account, credit card..etc

and it’s probably easy to read between the lines for a lender that if you have a search and then a credit card opens what’s happened, just like if you have 2-3 and nothing opened you’d assume you either changed your mind or more likely people were denied an account/credit for whatever reason.

i think it’s all behavioural and based on years of data which may not be correct - but patterns of credit customers and such tracked by algorithms, so people of backgrounds/income with X& X who have X amount of search’s and open these accounts are more likely to be A/B/C I’d assume.

Got to say though 24 hard searches is some doing that’s 2 a month, and I’m guessing 24 different products if it’s required hard searches each time. 

Alex9384

pecunianonolet said:

Agree with you that newbies might get scared so apologies. Yes, 24 is on a more extreme side with all the bank switches and credit cards I took out for stoozing. Luckily, quite a few have already dropped off and more to come in the next 8 weeks. Should bring the report back to an acceptable level of searches. 

The Metro inconsistencies are indeed strange. They might have changed their processes or specific indicators during the soft search trigger the hard search as they need more info to decide if they offer an account or not. Overdraft is the other thing I could imagine is the trigger. 

Still in any way a reliable source for a burner account.

Speaking of stoozing, how it's going for you?

I've stoozed 30k from credit cards and banks are getting hysterical, having no clue what's going on, as usually. Nationwide slashed my credit limit by more than 70% just after I transferred a balance to them, so utilisation suddenly went over 90%, and all offers from other banks disappeared, I'm not eligible for any card at the moment when doing eligib. checks (I never try sub-prime cards though). Barclaycard did the same thing almost 2 years ago when I maxed out their money transfer offer. As I paid off a portion of it, they reduced the limit just above the remaining balance, taking the utilisation over 90% again. I hate it when banks are clueless and do stupid sh*t like this. Why don't they ever ask you about your savings anyway? I wouldn't have problem to show them statements.

Btw, sorry for the off topic.

pecunianonolet

Alex9384 said:

pecunianonolet said:

Agree with you that newbies might get scared so apologies. Yes, 24 is on a more extreme side with all the bank switches and credit cards I took out for stoozing. Luckily, quite a few have already dropped off and more to come in the next 8 weeks. Should bring the report back to an acceptable level of searches. 

The Metro inconsistencies are indeed strange. They might have changed their processes or specific indicators during the soft search trigger the hard search as they need more info to decide if they offer an account or not. Overdraft is the other thing I could imagine is the trigger. 

Still in any way a reliable source for a burner account.

Speaking of stoozing, how it's going for you?

I've stoozed 30k from credit cards and banks are getting hysterical, having no clue what's going on, as usually. Nationwide slashed my credit limit by more than 70% just after I transferred a balance to them, so utilisation suddenly went over 90%, and all offers from other banks disappeared, I'm not eligible for any card at the moment when doing eligib. checks (I never try sub-prime cards though). Barclaycard did the same thing almost 2 years ago when I maxed out their money transfer offer. As I paid off a portion of it, they reduced the limit just above the remaining balance, taking the utilisation over 90% again. I hate it when banks are clueless and do stupid sh*t like this. Why don't they ever ask you about your savings anyway? I wouldn't have problem to show them statements.

Btw, sorry for the off topic.

No issues at all. Minimum payments each month, cash is in a mix of easy access and was in 3,6,12 month fixes. One last 12 month fix maturing in Jan. Not had any reductions or anything. Barclays purchase cc was paid off in full earlier in the year, Sainsbury cc in 2 weeks, MBNA in Feb and rest mid to end of 2024. I am in a position that I could pay it all off in one go should things escalate. Ca. 30k here as well, total utilisation now at 40% of overall limit.

I don't think anyone will give me a cc anytime soon before debt is not reduced and many hard searches dropped off.

NorwichMan

I have a metro IA saver, and I may open a current account soon, if I do I'll update here as to whether I get a hard search or not. I have four hard searches since August, so hopefully not five soon.

I'm currently stoozing about £22k over three cards, a couple of them were up around 90-95% utilisation, overall I was about 75%. One of them (the one I've held the longest) then increased my limit, so now I'm around 70% total. I don't think that would look good to new lenders, but then I don't foresee applying for any new cards for a while. I've never had a provider cut my limit, yet. Can easily pay off all cards if needed.

Firebolt

pecunianonolet said:

[...] Did you apply for any overdraft? An overdraft would trigger the hard search because it is a credit application and they are always recorded.

I didn't apply for an overdraft or any other credit products from Metro. I first applied for the Instant Access Savings account, and later the current account as a burner a few hours later, and the notification for the hard check came through shortly after the current account, so I am now suspecting it was the latter causing it.

jackjones01

Does nationwide do a hard search for additional accounts?