Applying for credit can be a confusing and stressful process, particularly if you’ve had problems with borrowing in the past. You don’t want to apply for lots of different cards and loans as each application will show up on your credit history. A lot of applications in a short space of time can be a warning sign to lenders, as they might see you as desperate for credit.
That’s why a soft credit search might be a good idea. But what if the eligibility checker can’t find you? Let’s take a look at why this might be.
Check your details
If you’re having problems when you use any soft credit search tool, it’s worth double-checking your details to see if they’re right. And if it looks like your details are correct but you’re still not showing up, your information might be wrong somewhere else.
Tools like QuickCheck run a soft credit search on your credit report. This means it will look at the details on your credit report to verify your application. If any of the information on your credit report with any of the credit reference agencies isn’t right, this could cause problems when you apply for credit. That’s because the differences in your details could make the lender think your application is fraud.
Check your credit report with Equifax’s ClearScore, CallCredit’s Noddle or Experian’s CreditMatcher. These services let you look at your credit report for free. Make sure you check all of your details – like your name and your address – to see that everything’s correct. If something’s recently changed, make sure this is up to date – if you’ve just got married and changed your name, or you’ve moved to a new address, for example.
If you do find anything wrong on your credit report, just get in touch with the credit reference agency responsible. They should be able to correct this for you.
Why do a soft search?
As we explained, a soft search means you can see if you’re likely to get credit before you apply. It won’t leave a mark on your credit history, like it would do when you apply for credit generally.
When you look at your credit report, you’ll be able to see the soft search but lenders won’t if they credit check you. This means you can check whether you can get the credit you want without having to worry it will leave any record on your credit history.
If you apply for the thinkmoney Credit Card, you can use our QuickCheck tool to see if you’re likely to be accepted, without leaving a mark on your credit report.