Usually an application for the loan would involve a credit search that is full. If a job candidate is denied, it shows to their record. Any lenders that are subsequent performed a search would see another company has recently refused you, and also this would lower your potential for them accepting you. It could compound the nagging problem, as every rejected application would keep another mark in your report, cutting your score and decreasing your opportunity to be accepted in the future.
The direct lender will do a full credit check if you accept a loan offer. Nevertheless, at this time, you will already fully know you meet with the lender’s requirements. Having a complete search done, making the repayments on time should only boost your score. Read More