Quotation Search
When you apply for credit, the broker or lender will usually perform a credit search where details of your credit history are checked to help compile a credit score.
These searches are recorded on your credit file, and too many of them can adversely effect your credit rating as a large number of credit searches implies a large number of unsuccessful credit applications.
A Quotation Search is a type of search that doesn't get recorded, and so has no effect on your credit score.
The idea behind a quotation search is that it is used in the preliminary stages of a credit application, when a potential customer is just shopping around for quotes rather than seriously going forward with an application.
If this is your situation, make sure that the credit company will be using a quotation search before authorising them to do a credit search.
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