Personal Loan Application - Credit Score

[Craig W]

Considering taking out a personal loan for a couple of small purchases, I've had some email offers from various providers offering good, very low APR. I know there may be better methods of getting the finance, but my question is:

If I was to be offered the loan amount but with a worse rate of interest, but I choose to reject the offer, would it affect my credit score?

[stargazer30]

It depends on how the company does the credit check. Most good companies will do a soft check that won't show on your credit record, then use this to give you an offer and only then if you proceed to do the full application, do the hard search.

Others will just do a full hard search right off the bat and that will be recorded, then offer you 18% APR or something else rubbish and waste your time.

If you want to see how good your credit rating is you can install clear score on your phone, its free and will give you an idea.