Credit Checks


#1

Hi,

As we all know here in the UK, the credit check system can be a serious issue when it comes time to say, apply for a mortgage.

That’s exactly what I’m about to do. I’m also starting a new business, and need the Revolut for business account.

I’m being very careful about how many hard and soft credit searches are being done on my credit file.

So the question:

If I apply for a business account, and apply for the Revolut business card as well, will any credit searches be done on my credit file/report? And if yes, what type (hard/soft)?

Thanks


#2

Since all Revolut accounts are prepaid accounts, I don’t think that they check credit history, as long as one does not apply for the consumer credit in the UK.


#3

Hi @hamster -

Thanks for getting in touch. I can confirm that we do not perform any hard or soft credit checks when you open a business account with us.

Hope you chose to join us!

Thanks
James


#4

Hi @JamesRevolut

Is this true for personal accounts?

I am also applying for a mortgage, and want to avoid any credit checks.

Thanks

Brad


#5

Hi @braduk,

There are no credit checks for personal accounts either.


#6

@AndreasK: mind commenting on this section of the privacy policy?
(https://www.revolut.com/privacy)

d) Information we receive from other sources (Third Party Information). We are working closely with third parties (including, for example, business partners, sub-contractors in technical, payment and delivery services, advertising networks, analytics providers, search information providers, credit reference agencies, fraud prevention agencies, customer service providers, developers, social media organisations such as Facebook, Twitter and/or Google). The use of credit reference agencies and fraud prevention agencies is not limited to such agencies based in the United Kingdom and includes such agencies overseas. Any such search under this section may leave a footprint on your credit file. By agreeing to the terms of this privacy policy, you agree that we may carry out such credit search in the knowledge that it may leave a footprint on your credit history.

So, does getting a Debit Card and a personal GBP local account affect the credit score?


#8

Thanks for pointing that out flatline. I will be putting off getting a Revolut card for now…