Catalogues & Credit Checks

Oracle

Oracle

Oracle

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17 Jan 2006
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I used to be in the financial industry a few years ago, and always understood from training that ordering catalogues (whereby a credit check was carried out), would (although not significantly) affect your credit rating.

Now I understand that this is a suitability check and to safe guard the catalogue company, and for this reason, companies like you to be 18years of age or older, but if I choose to order from the catalogue and only ever pay by debit card, have they affected my credit rating unnecessarily?
 
It's if you get a credit check and get DECLINED for credit, then that will affect your rating. If you get a check and ACCEPTED then it won't affect the rating at all.
 
Quantic said:
It's if you get a credit check and get DECLINED for credit, then that will affect your rating. If you get a check and ACCEPTED then it won't affect the rating at all.
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Thats not true.

The only way them looking at your credit file affects it is that it gets recorded that they searched and you applied for credit. If you apply a lot for credit within a short period it may raise alarm bells that you are in financial trouble. More than 3 searches within 6 months is usually the accepted limit although this will vary a lot.

As for a declined check affecting you, the outcome of the check is never recorded, it will be something else on your file that caused the issue.

After 6 months (maybe 12, cant remember off the top of my head) the search is removed from your file.
 
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