Numerous Credit Searches on Credit File

Worried37 · 19th June 2007, 21:52

Hi all, wondering if you can help me. I am about to get my head out of the sand and get my Credit File from Experian. However, I know that in the past I have gone online and applied for credit and now know that this will leave a seached mark on my Credit File which makes creditors nervous as to why I would be searched so much.

These searches were made through my own stupidity and inpatience in agreeing for companies to seach, but can these searches be deleted in any way?

hannahbtw · 19th June 2007, 22:01

Hi Worried37,

I think that previous searches on your credit file actually stay on there for 12 months. Experian will only delete the record of a search with the permission of the organisation that made it. It sucks i know!
Han x

Worried37 · 19th June 2007, 22:04

Thanks Han, well I have just applied online for my credit file. Finger's crossed, but I know it is going to be interesting!

renegotiation · 19th June 2007, 22:11

'Which?' the consumer group was supposed to be pushing for a system where applications for credit were only supposed to be recorded if the credit was then taken out. I don't know if anything became of it.

Worried37 · 19th June 2007, 22:17

Well I am sure to find out then when I get my credit file if I have numerous searches or not. Will keep you informed.

renegotiation · 19th June 2007, 22:30

This was the verdict of the Which? report which was actually made in Feb. 2004. I wouldn't be surprised if nothing has changed!

'If companies are to make responsible lending decisions, it's important that they all give full information to the CRAs. We'll be making this point in response to a recent government white paper on consumer credit. We're also calling for lenders that use risk-based pricing to make use of 'quotation' or 'enquiry' searches. This will mean you can shop around without worrying it will damage your credit rating.
We also think the Guide to Credit Scoring should be given the force of a code of conduct. This would mean all lenders would have to sign up to it, and give you full reasons if they reject you. In particular, we'd like lenders to tell you if it's a lack of credit information - rather than a poor credit record - that's the problem.'

purplefile · 20th June 2007, 00:37

There are a couple of mortgage lenders who now only leave a "soft" footprint which does not become a hard footprint untill a full application is made.
The soft print is only visible to you when you order your credit file - no other lender sees it when they search you.

I know that in certain states in the US this is the way all risk based pricing is done.

moneygalls123 · 20th November 2008, 21:46

I am trying to obtain copies of various credit agreements in my name. Is it correct that these have to be sent to me within 40 days

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