Does shopping around for the best credit deal leave a lot of searches on my credit report?
Shopping around for the best credit deal should not generate an abnormal number of ‘credit searches’ on your credit report. This is because a credit search should only be conducted in response to an actual application for credit. When shopping around, people usually obtain basic details of offers from a range of lenders, then make an application to those considered to be the best deal. Asking for a quotation should not affect your chances of getting credit in the future because, for most types of credit, lenders do not have to search your credit report to give you a quotation. But if the cost of the credit deal does depends on your credit score, the lender may need to search your credit report. In such cases, the lender should make a ‘quotation search’ and not a credit search. Lenders searching your report in the future will know that quotation searches do not reflect actual credit applications. The lender should always tell you if they are going to search your credit report and what s
