Credit Rating on Equifax

[northernladuk]

Oh yeah and having too many credit cards or too much credit available to you, even if all balances are zero and you haven't missed a single payment will count very heavily against you.

I had a load of cards still active from back in the 0% days. When I applied for a card I was accepted but got something like £1500 credit. Apparently even though I was spotless with no money in them I had the potential to run up £40k+ the day I got the new card so they were not willing to extend my limit.

[Platypus]

I don't believe excessive searches affect your credit history but being turned down for credit might.

It's my understanding that excessive searches DO negatively affect your chance of getting credit, although it doesn't effect your score.

[Jessica@WhiteFieldTax]

It's my understanding that excessive searches DO negatively affect your chance of getting credit, although it doesn't effect your score.

Thats my understanding as well.

[Jessica@WhiteFieldTax]

Wouldn't doing a credit check on yourself to Experian, Equifax and Credit Call reduce your credit rating even further as it will leave yet more fingerprint records of recent credit searches made on you ?

No, because its just a extraction of data under DPA for data subject, be it a direct approach or via someone like CMF

[northernladuk]

It's my understanding that excessive searches DO negatively affect your chance of getting credit, although it doesn't effect your score.

Sorry you are correct. Had the right thing in mind but wrote it completely wrong. That was meant in reply to Sbakoola's comment about searching himself. Excessive do but odd checks on yourself won't as you get searched getting insurance as well as credit cards etc so there is quite a bit of wiggle room.

[NorthWestPerm2Contr]

Sorry you are correct. Had the right thing in mind but wrote it completely wrong. That was meant in reply to Sbakoola's comment about searching himself. Excessive do but odd checks on yourself won't as you get searched getting insurance as well as credit cards etc so there is quite a bit of wiggle room.

Cheers all,

I have applied for one more loan with Sainsbury's, if that doesn't work out then I will call it quits for a while. They accepted in principle but just waiting for final outcome on Friday.... need the money to do some decorating etc. without having to push myself into the 40% tax bracket.

[speling bee]

Cheers all,

I have applied for one more loan with Sainsbury's, if that doesn't work out then I will call it quits for a while. They accepted in principle but just waiting for final outcome on Friday.... need the money to do some decorating etc. without having to push myself into the 40% tax bracket.

Director's loan?