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Lenders and other companies usually complete checks when you apply for credit, or to use their services.
The impact on your credit score, depends on the type of check thatās 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 youāre 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 wonāt affect your credit score, or your ability to get credit in future, so thereās no need to worry about how often theyāre completed.
Just bear in mind that soft credit searches arenāt offered on all credit types, so make sure youāre aware what type of checks will be completed before you give consent.