What Does Someone See When They Run A Credit Check?

What happens when your credit score is checked?

Anytime your credit is checked, an inquiry is noted on your credit report.

Checking your own credit score is considered a soft inquiry and won’t affect your credit.

There are other types of soft inquiries that also don’t affect your credit score, and several types of hard inquiries that might..

What does a company see when doing a credit check?

A full credit check will reveal not just Public Information, but also your full Credit History, including how you have managed induvial accounts, any adverse information and detail around your current balances, limits and levels of borrowing.

Why would I fail a credit check?

If you haven’t used credit before, or if you’re new to the country, there might not be enough data for lenders to approve you. You have late or missed payments, defaults, or county court judgments in your credit history. These may indicate you’ve had trouble repaying debt in the past.

Can a credit check see your bank balance?

It’s a common misconception that if you’ve got a healthy bank balance this will boost your credit score, but actually, your bank balance doesn’t even feature on your credit report and has no impact on your score (unless you’re in your overdraft).

What does a credit check reveal?

They report the type of account (credit card, auto loan, mortgage, etc.), the date you opened the account, your credit limit or loan amount, the account balance and your payment history, including whether or not you have made your payments on time.