Credit score?
Hello, i have recently been trying to get a large loan which i have now changed my mind about so am no longer looking. The problem is i went through a couple of internet brookers and i belaeve a large number of searches may have been done on my credit score making my credit alot worse than it should be. Anyone know how long this takes to sort itself out or if any lasting damage has been done? Thanks for any info
Public Comments
- Credit inquiries stay on your credit report for 24-months. The lost points caused by these inquiries will be regained after about 6-months.
- Depends what you mean by "lasting". Inquiries affect your credit score for up to a year, depending on how many were made. There are two different counts which matter, how many inquiries in the last six months and how many in the last year. Most people see a group of inquiries make little difference after 6 months, but if you have a whole lot of them, they will continue to have most of their affect for a whole year. Also, inquiries alone should generally only affect your score by 20-30 points, which may or may not make a big difference to you in the near future.
- All that should happen is that the credit reference agency will record that searches have been carried out and by whom,they will record the dates and that is all.A new company that searches your details will notice these searches and may well refuse a credit agreement due to the amount of activity,but after about 6 months they will take very little notice of the previous searches,they will stay on your account unless you apply for them to be erased and give your reasons why but not for at least 6 months.There are several credit agencies and the banks etc use different ones depending upon their preferences. You can go online with "credit expert" for experian and pay about £4.99 to view your credit score and a futher £5.99/month to keep an eye on things and recieve alerts and monthly newsletters
- Log onto credit expert.co.uk.u can check your credit rating there.No one is allowed to check without your consent.Normally if there are numerous searches within 3 months,yes it does effect your rating.
- Contact Experian (google search this) and you can get a credit report for £2 which will show you exactly what credit reference agencies see when they do a credit search on you and this may help. If there are any discrepancies you can write to them explaining what is wrong with proof and they will amend your credit for free.
- Anytime someone looks at your credit it takes about 2 years for it to be removed..
- Hi. If you are still looking for a loan, try this website as some use no credit checks and would not affect your application. http://bestukloans.co.nr
