Virgin media damaged my credit score

[lans9120]

Hello, 

i have recently applied to virgin media and have recieved confirmation emails of my direct debit set up and the date in which i will receive my equipment(next week)..

The issue is my Experian credit report is showing a hard search by virgin media and has caused my credit score to drop by 63 points

can someone please explain to me what is going on?

thankyou

liam

[Ernie_C]

I believe Virgin Media are seen as a utility and hard searches are normal for utilities.

As you have seen, a hard search does adversely affect your credit rating, especially if you have had a number in a short period of time.

[lans9120]

So opening an account with virgin media causes your credit score to drop? Is that right?

[Ernie_C]

No, opening any account which does a hard search affects your credit score. Open several such accounts at the same time will have a large effect.

Spending money that you previously weren’t means you are more likely to not be able to make any further credit payment, such as a new mortgage, hence your credit score goes down until time has passed and you make all your payments.

[lans9120]

my clear score app shows 4 upcoming searches by virgin media!...I have not applied for any credit or anything like that elsewhere

I'm sorry but this seems very bad that by simply signing up for virgin broadband my credit score gets cut by 63 points? how is this allowed, seem ridiculous!

[Natalie_L]

Hi Ians9120, 

Welcome to the Community and thank you for posting. 

I am very sorry to hear your credit score has been impacted but as Ernie_C has advised, applying for an account with any service that requires a soft/hard credit check will flag on your report.

You have mentioned 4 upcoming searches, is that in addition to the ones added for the initial order? 

Thanks

[lans9120]

4 upcoming searches all together, 2 from the 7th (when i placed the order) and then 2 from the 8th.

[Natalie_L]

Thank you for getting back to us. 

If you feel that your credit file has incorrectly been impacted, you can raise this with our dedicated team via email on creditfileamendments@virginmedia.co.uk. 

Thank you,