Credit Score Basics > How long does a credit check take?
2
minute read ·
Updated
18th April 2024
A credit check can take anywhere between a few seconds and a week.
The amount of time really depends on three things:
- How correct your name and addresses are;
- What the credit check is for;
- And who is doing the credit check.
How does my address affect how long my credit check takes?
Your name and address history must be correct; otherwise, the company checking your credit report might have trouble verifying your identity. Even a typo or moving house too often can have a big impact.
There are a few ways to make sure your address history doesn't make your credit checks too long or even cause them to fail:
- Register to vote once you're eligible;
- Every time you move to a new place, update your electoral roll registration to the new address;
- Also, update your address with all your lenders, banks, and utility providers.
- Try to always spell your address in the same way. For example, decide between "Ave" and "Avenue, and stick with it.
- Get your credit report from all three credit reference agencies (Experian, Equifax, and TransUnion) and see your address history. If you spot any errors, contact the relevant agency and ask them to update it. They'll tell you what documents they need.
Which credit checks take the longest?
Its purpose is the second factor that influences how long your credit check takes. Usually, the more significant the loan amount, the more thorough the credit search.
Expect checks for getting a mobile phone contract or renting a new flat to take only between a few minutes and a few hours.
On the other hand, a credit check for a mortgage or a large unsecured personal loan might take up to a week as the lender goes through every detail that could be a red flag.
Do hard checks take longer than soft checks?
The short answer is yes – hard checks take longer than soft checks. That's because hard checks are done by other people. In contrast, soft checks are either done by you personally (like when you check your credit score) or by an automated tool (like when your bank checks if you're eligible for a credit card promotion).
This explains why you might find accessing your own credit file so fast while your credit card application is still "stuck" in processing.
However, there are exceptions. For example, getting your own Statutory Report might take up to two weeks if the bank needs additional documents to make sure you are who you say you are. But if your address history is simple and error-free and you provided the right details, this shouldn't be an issue.
This is why it's so important to regularly request and check your own credit report – not only to get a sense of how lenders see you but also to correct mistakes that could cost you a credit application down the line.
