Thinking of applying for credit before Black Friday? Read this first.

According to Why Matters, UK shoppers spent £1.16 billion online on Black Friday in 2025. Across the four-day weekend, including Cyber Monday, the total equalled roughly £3.79 billion, up 4.1% on the previous year.

As exciting as the bright lights of a Black Friday ad are, if you're planning to pay for a deal by applying for credit, it’s important to keep the following things in mind.

Check your credit report before you apply for any credit

It's good practice to check your credit report before applying for any kind of credit, whether it's for your Black Friday shopping or something else.

Checking your credit report lets you look for errors or mistakes, see how much credit you're already using, and decide whether you can afford to apply for more.

At Checkmyfile, we give you the best possible overview of your credit history and spending by returning your data from all three of the credit reference agencies (CRAs) that operate in the UK. By seeing all your data from Experian, Equifax, and TransUnion in one place, you see everything a lender could see. Start with a 7-day free trial, then it's just £14.99 a month - cancel online anytime.

What lenders look for when you apply

Lenders check your credit report to understand how you've managed borrowing in the past. What they're trying to do is assess the risk of lending to you – how likely you are to pay them back on time. 

They'll look at your repayment history and any missed or late payments, accounts in default or arrears, how much outstanding debt you have, your credit utilisation (how much of your available credit you’re actually using) and recent credit or loan applications. 

Though they can't see whether your recent loan or credit applications were approved, multiple applications in a short period could negatively impact your score and chances of being accepted. Lenders may think that you're taking on a lot of new credit at once, and may struggle to pay back any additional debt as a result. 

They’ll also check your financial associations (the people you share joint finances with) and public records such as County Court Judgments (CCJs) or insolvency, like a bankruptcy filing or an Individual Voluntary Arrangement (IVA).

Why Black Friday is a risky time to apply on impulse

Because Black Friday deals are so heavily marketed as 'limited time only', some consumers may feel pressured into making a quick decision. Sometimes, a sale might even include a ticking timer or 'deal ends on X date', just to drive the message home.

Though the deals may be tempting, trying to grab an 'exclusive' deal before time runs out could lead some to make multiple spontaneous applications across different retailers, resulting in several hard searches on their credit report.

Remember, having multiple recent credit applications on your file can negatively impact your credit score, making it harder to be approved for credit when you really need it. If you're gearing up for a significant credit application, like a mortgage, taking out additional credit during Black Friday could negatively affect your affordability assessment.

It's also worth considering whether the Black Friday discount even saves you any money in the long run if you need to pay interest on the purchase. Compare the total amount repayable, rather than just the promotional price or monthly instalment.

What’s the difference between a soft search and a hard search?

There are two types of credit searches. A soft search appears on your credit file when you request a quote or use an eligibility checker, for example. Lenders can't see them, and they won't harm your credit score.

A hard search appears when a lender makes  a more detailed check of your credit history. Lenders usually run one when you apply for credit, including loans, credit cards, mortgages, and some retail finance arrangements like ‘Buy Now, Pay Later’.

Other lenders can see hard searches, and they’ll typically remain on your report for 12 to 24 months.

How to prepare for a credit application

There are some things you can do to help improve your chances of being accepted.

Check your credit report first

Checking your credit before applying for new credit or loans can help give you an idea of how likely you are to be approved for new credit. 

At Checkmyfile, we’re the only service that puts all your data from the UK’s three main credit reference agencies – Experian, Equifax, and TransUnion – in one place. They could each hold different information about you, and lenders may not check your data with all of them. See everything a lender could see and get help from our UK-based customer care team if something doesn’t look right.

Start with a 7-day free trial. It's then £14.99 a month - cancel online anytime.

Use eligibility checkers that run soft searches

You can also use free online eligibility checkers that run soft searches to see whether you're likely to be accepted before you apply.

Some indicate that you are pre-approved or eligible for a particular offer, but pre-approval isn't guaranteed approval. Still, it's better than applying blind.

What to look for on your credit file before you apply

Before you apply for credit, check:

• Your personal information, making sure that your address and previous addresses are all correct. Even small formatting differences can cause verification issues.

• Whether you're correctly registered on the Electoral Roll at your current address, and fix it if not. Updates can take up to three months to reflect on your credit report, so the sooner you check, the better.

• What your payment history looks like, including missed payments and accounts in arrears or default.

• How much you owe and whether you're close to your credit limits, which would indicate high credit utilisation.

• How many hard searches have been recorded on your file recently.

• Whether you're still being reported as financially linked to someone who you no longer have a connection to. Your financial associations don't affect your score, but they could affect your credit applications. If you have an association on your report who’s no longer relevant, you can request for them to be removed.

Checking your credit file also lets you look for incorrect or unfamiliar accounts, such as credit agreements or applications you don't recognise.

Buy Now, Pay Later: Does it count?

Buy Now, Pay Later (BNPL) is a form of borrowing. This means that it can affect your credit report and future credit applications if you don't manage the repayments.

Missed repayments will be reported in the same way as they would on any other credit agreement and can negatively affect your credit history, even if the original purchase was relatively small. On the other hand, regular, on-time repayments may contribute positively to your credit history.

Beware that taking out several BNPL agreements during Black Friday can create overlapping repayments that become difficult to manage, and even a 0% interest agreement is still borrowing. Though it may feel more affordable, splitting a £300 purchase into three £100 payments doesn't reduce the amount you owe.

How many credit applications are too many?

There’s no fixed number of credit applications that automatically becomes too many. Every lender has its own criteria, and they’ll know that the occasional credit application is to be expected. It’s good practice to avoid applying for several credit products in a short period, both to keep it easier to stay on top of your finances and to avoid looking too reliant on credit to prospective lenders. Lenders want to lend responsibly to customers who they believe can pay them back.

Check your credit file before you shop

At Checkmyfile, we've made it easy to check your credit report before applying for a loan or new line of credit. You can get a clear understanding of your current borrowing position and identify any issues that might affect your application.

Knowing where your credit health stands before you apply is one of the best ways to avoid any surprises and keep unnecessary credit applications to a minimum.

Sign up today for a 7-day free trial; then it’s just £14.99 a month, and you can cancel online anytime.