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How long will searches affect a credit report?

(4 Posts)
HolidayArmadillo Tue 11-Mar-14 18:47:48

Looking to consolidate some debt and do some work on a property we rent out, long story short I applied for a loan in October and was accepted on the advertised (really good) rate, panicked at the thought of taking out extra debt just before Christmas and thought I would be sensible and defer until after the festive period, only to then be declined by the same company! Have just tonight made an application in both mine and DH's name at a different company who do the 'soft search' option which gave us an APR of 9.9% only to be declined again, so now I have three credit searches and no new accounts over the last 6 months. How long is this going to have an adverse effect on my credit report?

AndIFeedEmGunpowder Tue 11-Mar-14 21:03:05

How frustrating!

I would apply for the experian/equifax 30 day free trial of your credit report. Gives you advice on how to imptove it.

On my report it has as a positive that there are 'no recent credit searches.' When it goes into more detail it shows that there are none in the last year, although maybe 6 months would be fine.

HolidayArmadillo Tue 11-Mar-14 22:17:28

I have access to my credit report via checkmyfile, I'll have to wait until next month to see what it says re the latest search. I'm just kicking myself for not taking that first loan, benefit of hindsight eh?!

AndIFeedEmGunpowder Wed 12-Mar-14 08:53:44

It's so annoying. DH has a negative mark on his re: a rolling mobile phone contract that he cancelled immediately. You can apply for a notice of correction which might help. Bit of a pain though. Wish it was people looking sensibly rather than computer generated!

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