Will Financial Vulnerability Checks affect my credit score?

About Financial Vulnerability Checks

We do not conduct traditional credit checks on our customers. However, we do make use of publicly available data provided by credit reference agencies as part of our Financial Vulnerability Check process. This information may include details such as bankruptcy records and County Court Judgments (CCJs).

Soft searches and their impact

Importantly, these checks are classified as soft searches. They will not be visible to other companies and will have no impact on your credit score or your ability to obtain credit in the future. While these searches may appear on your personal credit report, enabling you to track which organizations have accessed your data, they remain invisible to third parties.

Why soft searches are used

Soft credit searches are commonly used by businesses with whom you already have a relationship. They help facilitate background checks in a responsible and non-intrusive manner. Additionally, a soft search is also performed when you check your own credit report.

Summary

In summary, soft credit checks are a standard industry practice for conducting responsible financial assessments and do not affect your creditworthiness in any way.