Experian Credit Report Number
2010
Searches on my Experian credit report (UK only)?
I know that each company searching your Experian credit report has a different scoring template but generally, how do they view your previous searches in the following context: do they look mostly at the number of searches made in the last 3 months, the last 6 months or the whole recorded year. Or do they look at the whole year but more so one of those time frames?
It depends on the company. Most (reputable) lenders will look at the year, a rule of thumb for annual searches is that if you’re 4 or more in the last year then it indicates potential problems.
Some also look at application clusters and how recent they were. If you’ve just say 2 in a month then it could be that you applied for a premium rate loan or credit card, got turned down or offered a much higher rate so you went elsewhere. It could also mean you bought a TV and a dining table and took advantage of 0% credit. Neither of which is a problem, just prudent borrowing 3 or more though in the most recent month makes it look like you’re desperate and can’t survive without credit – that looks bad. If there were 3 but 11 months ago then that doesn’t look so bad as you haven’t needed more applications since.
It all depends on the company and their scoring schema.
Comment