Credit score effect when clicking to "view and apply"

FocusHappy

I'm interested in a loan via MSE, i understand that only a soft search is done, but if I "Click and Apply" for one in particular to read more info, does that hit my credit score, before I've actually completed any further details?

MorningcoffeeIV

Probably, but it doesn't matter.

No one will ever see or know about any change in your credit score.

And you won't be making an application for anyone to see.

FocusHappy

MorningcoffeeIV said:

Probably, but it doesn't matter.

No one will ever see or know about any change in your credit score.

And you won't be making an application for anyone to see.

I thought it did matter if there are a few searches within a short space of time, or have I got that incorrect? I thought it an impact on the rates that other potential lenders would offer me. I no I wouldn't have a rejection, but doesn't it affect  the rate they offer? Any help would be great. 

CliveOfIndia

FocusHappy said:

MorningcoffeeIV said:

Probably, but it doesn't matter.

No one will ever see or know about any change in your credit score.

And you won't be making an application for anyone to see.

I thought it did matter if there are a few searches within a short space of time, or have I got that incorrect? I thought it an impact on the rates that other potential lenders would offer me. I no I wouldn't have a rejection, but doesn't it affect  the rate they offer? Any help would be great. 

A hard search is performed when you submit a formal application - this search is recorded on your credit file, and will be visible to other lenders.  What they choose to make of it is up to them - though the generally accepted wisdom is that more than a couple of hard searches in a short space of time is viewed negatively, as it makes you look like you're desperate for credit (although the outcome of a search is not recorded, a lot of searches can lead to the inference that you're making lots of applications because you keep getting declined).

The score you see on your credit report, however, is meaningless, and in fact is not even seen by any lender.  But your credit history - which will include hard searches - is visible.

FocusHappy said:

if I "Click and Apply" for one in particular to read more info, does that hit my credit score, before I've actually completed any further details?

You're safe to do the "Click and apply" part - all that does is take you to the lender's own website, where you fill in all your details.  It's at the point that you've entered your details and click the "Submit Application" button that they'll then go off and do a hard search - which will be recorded on your credit history.