Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Credit Search

What is a Credit Search?

A Credit Search is a check made by a lender using a Credit Reference Agency to view your Credit Report. A Credit Search is different to an Enquiry, as in every case it relates to the assessment of an application for credit.

The amount of information that the lender is able to see on a Credit Search is dependent on the amount of information that they share. This is in accordance with the Principles of Reciprocity, which say that to receive a defined level of detail, then the lender must itself report the same level of detail about all of its customers every month to a Credit Reference Agency.

Most consumers have around 6-12 Credit Searches on their Credit Reports each year. Contrary to popular folklore, searches do not severely impact your Credit Score – you cannot be penalised for shopping around for credit. That said, a lot of Credit Searches undertaken in a very short period may be an indicator of fraudulent activity.

Credit Searches remain on your credit report for 1-2 years depending on the Credit Reference Agency.

Q: Why do lenders need to carry out a credit search?

A: To look at your repayment history and assess whether it is worth taking the risk of loaning you credit. If you’ve had trouble making payments in the past, a lender might think twice about offering you credit again, but without a credit check they have no way of knowing.

Q: How long does a credit search stay on my file?

A: Typically Crediva, Equifax and TransUnion report searches for 2 years, while Experian reports them for 1 year. Searches carried out by a debt collector will remain on your credit report for 2 years.

What do credit searches look like on my credit report?

A:You can see Enquiry and Application searches on your checkmyfile Credit Report in the form of Search Footprints . You will be able to see who carried out the search and when- monitoring your report can be an effective way to spot fraudulent attempts to take out credit.

If you haven’t already, you can try checkmyfile FREE for 30 days, then for just £14.99 a month afterwards, which you can cancel online at any time.

Jargon Buster

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