Applying for a credit card or a loan can feel daunting, because it’s not always clear what deal you’ll get, or if you’ll even be accepted. But when you’re pre-approved you can relax, because you know the deal you see is the deal you’ll get. At MoneySuperMarket, our eligibility calculators will show you your chances of being accepted for each credit card or loan.
Our eligibility calculators use ‘soft searches’ to check your eligibility for each credit card or loan. These soft searches let us check your credit report and see how likely you are to be accepted, based on the lender’s criteria. You’ll be able to see the soft searches if you check your credit report, but lenders can’t see them, and they don’t affect your credit score.
If you do apply, the lender will run a ‘hard search’ on your credit report. Other lenders will be able to see this search, and making lots of applications in a short space of time can affect your ability to get credit.
What information do you need?
You’ll need to give us your name, address history and date of birth so that we can find your credit report. You’ll also need to tell us some information about your marital status and your finances - this helps lenders to estimate your expenses and check whether you can afford repayments.
I have a low eligibility chance, should I still apply?
We’ll show you the cards and loans you’re most likely to be accepted for, but unless it shows as 100% pre-approved, there is a chance your application may not be successful.
If you don’t see any products showing a higher eligibility chance, and getting a card or a loan is very important to your finances, you may still want to apply. But remember that unsuccessful applications can harm your chances of getting credit in the future.