Run a free credit card eligibility check without affecting your credit score
It’s a tool that runs a check to see which credit cards you’re most likely to be accepted for.
It’ll check your credit file, but without leaving a mark on it, so it’s a way to see if you’re likely to be accepted before you actually apply.
A check won’t adversely affect your credit score, whereas making an application will.
When you make an application for a credit card, the lender will perform a ‘hard’ search on your credit history. This leaves a footprint on your credit report.
If you make a lot of applications in a short space of time, lenders might see it as a sign that you may be financially struggling. So they will be less likely to want to lend to you.
Running a credit card eligibility check uses a ‘soft’ credit search instead that lenders won’t be able to view on your credit report, no matter what the result is. It therefore won’t negatively impact your credit rating.
Also, because the eligibility checker lets you know which credit cards you’re most likely to be accepted for, you can limit your actual applications and so avoid adverse effects to your credit score.
The checker runs a soft credit check based on the information you provide and what it finds on your credit report.
It sets this data against the criteria of the credit card provider and calculates your chances of getting approved for specific cards and deals.
You’ll need to provide some personal details including:
The checker will also need to know:
Most credit card companies will need you to:
They should remain valid as long as there are no changes to your credit report.
It’s usually updated every month, though this can vary between credit reference agencies.
Running an eligibility check for a credit card won’t leave a footprint on your credit report whereas making multiple applications will.
There are lenders who will accept your application for a credit card even if you’ve had credit problems in the past.
You’ll probably find you’ll only have access to cards that offer low limits of credit (and sometimes higher rates of interest).
If you manage to keep up repayments and make them on time, then your credit score should improve.
But remember to run an eligibility check first as applying for multiple cards with little idea of whether or not you’ll be accepted will lower your credit score even more.