Credit Score Basics > How long do searches stay on your credit report?

How long do searches stay on your credit report?

Wollit Team2 minute read · Updated 1st July 2024

When you apply for credit, lenders check your credit history to decide whether to lend you money. This process involves searching your credit report, which can affect your credit score. Let’s see how long these searches stay on your credit report, how they impact your credit score, and what you can do to reduce this impact.

What is a credit search?

A credit search, also called a credit check, is when a company looks at your credit report to understand how you manage your finances. This includes information about your payment history, how much debt you have, and who you borrow from. Companies that may check your credit include banks, credit providers, and utility suppliers.

There are two types of credit checks: soft and hard searches.

Soft searches (or soft credit checks)| are initial searches that do not affect your credit score. These searches are usually done when you compare credit cards or loans with different providers. They are not visible to other companies, so they do not impact your credit score.

Hard searches (or hard credit checks) are more detailed searches that can affect your credit score. These searches are usually done when you apply for credit, and they are visible to other companies. Hard searches can stay on your credit report for up to 12 months and can negatively impact your credit score if you make multiple applications in a short period.

How long do credit checks stay on my credit report?

Soft searches only stay on your credit report for up to a year, however this doesn’t really matter as they are not visible to anyone but you.

Hard searches, however, can stay on your credit report for up to 24 months. During this time they are visible to lenders and can lower your credit score.

How do I minimise the impact of searches on my credit report?

To minimise the impact of hard searches on your credit score, here is what you need to do:

Be mindful of the number of hard searches you have on your report, as multiple applications in a short period can hurt your credit score. Experian recommends having not more than two hard searches on your file within any six months period.
You can also ensure the applications you do make have a higher chance of acceptance by only applying for credit you are eligible for. You can check your eligibility rating for credit cards and personal loans before applying to avoid unnecessary hard searches.
If you see any hard searches you don’t recognise, you might be a victim of fraud. Fraud can affect your credit score in more than one way, so reach out to Action Fraud Police immediately, as well as the lenders you see in the credit report and the credit reference agencies themselves. You might also want to add a Notice of Correction to your file telling lenders that the hard check in question is fraudulent. Other steps you can take are registering for CIFAS protection and locking your credit account through CreditExpert or another service.

Another way to minimise the negative impact of multiple hard searches is to continue working on your credit score.

The good news is that now there are many apps that can help you build and improve credit. One such app is Wollit.

Wollit works by reporting a fixed-fee monthly subscription as a loan repayment to all credit reference agencies. This helps you build a history of timely debt repayments, which is the main factor that matters for your credit score.

On top of this, Wollit can also report your monthly rent payment to Experian. This can add another line in your credit report that shows lenders you pay your bills on time, helping you reduce the impact of a few hard checks in your overall credit file.