Are credit inquiries saved? This question is asked by many potential creditors who are inquired about financing. Because it often happens that credit inquiries are made with multiple providers or repeated in the event of rejection at a later date. A storage could then influence the credit opportunities.
In fact, it is common in the banking industry to save loan requests. This applies to inquiries via comparison portals or bank websites as well as in the context of a bank appointment. Usually there is a message to the credit bureau. Virtually all commercial banks cooperate with credit bureau. The credit bureau stores such reports of credit requests for one year, after which they are automatically deleted. The storage takes place directly in connection with the respective message.
It depends on how
How are credit requests saved? A general inquiry into the terms of the loan does not yet constitute a request for credit in the narrower sense. Accordingly, there is no storage. A request is only made when a borrower wants to know whether and on what terms he would receive a loan based on his specific economic circumstances. Such a credit request is usually reported as “request credit terms” (KK) to the credit bureau and stored as such.
If, on the other hand, the creditor submits a concrete loan request to a bank by submitting a signed application together with the required documents, another message is sent to the credit bureau, this time as a “request credit” (AK), which is also stored there. It makes a difference whether a credit request is recorded as KK or AK.
What influence stored messages have
Although credit inquiries are stored for KK-Messages, they are not identifiable for banks other than the bank in question. In addition, they have no influence on the credit bureau scoring, which evaluates the creditworthiness of potential creditors. It is therefore harmless to make several or repeated condition requests at the same time. Although they are reported and saved, they do not affect the credit opportunities.
The situation is different for AK messages. These can also be viewed by other banks for about ten days after the entry. The bank recognizes this, even if another loan application was made elsewhere. In addition, several such loan requests worsen the credit bureau Score value within a short period of time. The system evaluates such parallel applications negative, because apparently trying to obtain a loan equal to several providers. This makes it harder to get the credit at all.
Anyone who wants to get his credit opportunities, should therefore first compare the conditions and then only make a “real” credit request.