Multiple credit card applications

kevtrader

Hi

If I apply to 4 credit cards or loans in a 2 week period does it come up as 1 credit search on my file or 4 searches?

On another note I've had 1 credit card for 10 months and the provider has put up the limit twice! I didn't ask for it and in their T&C they said they wouldn't change it until I've had the card for 6 or 9 months. I'm not complaining but I wasn't expecting it!

Thanks

Galstonian

4. Or more. 1 application can result in multiple searches. Personally I apply for no more than 1 a month.

grumbler

kevtrader wrote:

If I apply to 4 credit cards or loans in a 2 week period does it come up as 1 credit search on my file or 4 searches?

General answer is YES. However, different lenders use different CRAs, so each credit file can have only a few of the above searches registered.

Experian vs. Equifax

kevtrader

So what you're saying is if I sent each application on the same day it will come up with at least 4 searches on my file? Interesting!

Is it the same with loans? What if I borrowed £500 from a bank and had £500 as deposit does that still come up as a search?

Thanks

Karma67

kevtrader wrote:

So what you're saying is if I sent each application on the same day it will come up with at least 4 searches on my file?

Yes...mainly because they could all be with different card providers ie: Lloyds, Barclays, MNBA, Halifax etc so they would not know the information asked for by a different company than them

kevtrader wrote:

Is it the same with loans? What if I borrowed £500 from a bank and had £500 as deposit does that still come up as a search?

whenever you wish to apply for credit, they will do a credit search

HTH

Galstonian

You should probably not believe everything that you read in ebooks about credit building and repairing and you should probably ask more relevant questions on (multiple) internet forums!

kevtrader

I've asked the same question at the same time over at the Motley Fool which I'm going to check right now.

EDIT: They are saying the same thing over at the Fool.

Maybe I should keep clear of the tips in this ebook!