What is a credit check?
Lenders and other companies usually complete checks when you apply for credit, or to use their services.
How does a credit check affect your credit score?
The impact on your credit score, depends on the type of check that’s been completed.
A hard credit check will be visible to anyone checking your credit report, and can affect your credit score for at least 12 months, which could impact your short-term ability to secure credit.
A number of hard credit searches in a short period could suggest you’re having financial difficulties, potentially influencing the way you are viewed by lenders and other service providers.
A soft credit check may be visible on your credit report, but won’t affect your credit score, or your ability to get credit in future, so there’s no need to worry about how often they’re completed.
Just bear in mind that soft credit searches aren’t offered on all credit types, so make sure you’re aware what type of checks will be completed before you give consent.