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Help with bank switching and Credit report
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EminemPrimeDaddy69
Posts: 55 Forumite

For a friend can she apply for a sim only contact if she has done 2 switches Lloyds and NatWest with a hard check on her credit report and purchased car on finance
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Comments
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DevonRiz123 said:For a friend can she apply for a sim only contact if she has done 2 switches Lloyds and NatWest with a hard check on her credit report and purchased car on finance
She can apply for anything she wants. Nobody knows whether a credit provider says yes until you apply - but as she appears to have some credit history, I can't see why they wouldn't grant a sim-only contract. The only time where hard searches really matter is very close to a mortgage application - so if she's not moving house next week - tell her to go for it and see what they say.
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cymruchris said:DevonRiz123 said:For a friend can she apply for a sim only contact if she has done 2 switches Lloyds and NatWest with a hard check on her credit report and purchased car on finance
She can apply for anything she wants. Nobody knows whether a credit provider says yes until you apply - but as she appears to have some credit history, I can't see why they wouldn't grant a sim-only contract. The only time where hard searches really matter is very close to a mortgage application - so if she's not moving house next week - tell her to go for it and see what they say.0 -
When do hard searches matter since I have 70
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DevonRiz123 said:When do hard searches matter since I have 7Before a large financial commitment like a mortgage generally - but if you have 7 over the last year, you might find another application for credit while they're still recent might lead to a decline.0
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Okay.
What do I do now?0 -
DevonRiz123 said:Okay.
What do I do now?Nobody knows. You balance the risk and make a decision. The worst they can say is no - and then you wait 6 months before making another credit application.
Some people have a dozen or more hard searches in a year through account switches and have no issues - others have 3 or 4 hard searches and then get declined.
It's related to many factors, your long term credit history, your income, your management of your accounts, your levels of debt - and so on, and so on.If you don't have a mortgage any time soon, you can give it a try, and if successful - hold off on any new applications for a few months to let the recent searches fade away.0
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