There are two types of searches that can appear on your credit report, ‘soft’ and ‘hard’ searches.
When you check your credit report with TotallyMoney, it will appear as a soft search on your credit report. Soft searches have no impact on your credit score as lenders are not able to see these and are not able to act upon these when reviewing an application for credit.
When you make an application for credit, lenders will perform a hard search which will be visible to other lenders when viewing your credit report. Having too many hard searches on your account in a short period can have a negative impact, as this may indicate you are in urgent need of credit.
As we are only able to perform soft searches, using our service will have no impact on your credit score.