What is a credit check?

Running a credit check through Amiqus ID will generate a credit report. Results are provided instantly validating your, address and date of birth details whilst conducting a real-time check against bank and credit providers’ records. 

Who does this check and what data do they have?

We partner with TransUnion (formerly Callcredit) to provide access to a wide range of databases which include the electoral roll, international fraud register, court judgements, credit fraud agencies, birth and death registers, companies house, government sanctions lists and many others.

What do the different credit rating bandings mean?

Your credit rating is an assessment of your creditworthiness based primarily upon your history of borrowing and repayment. It’s shown as a score out of 5. The higher your credit rating the lower your credit risk and the more likely you are to have your application for credit accepted.

Every credit provider will have their own rules and use a combination of financial information to help them make their decision.

Credit rating 1

A rating of 1 indicates that you are likely to have difficulty obtaining credit and may find that credit providers will turn you down.

Credit rating 2

A rating of 2 indicates that you will sometimes be rejected when applying for credit and you may be offered a higher than normal rate of interest by lenders.

Credit rating 3

A rating of 3 indicates that you may occasionally be rejected when applying for credit. You may find you can’t get all the best deals in the market and you may find that lenders offer you higher than normal rates of interest.

Credit rating 4

A rating of 4 indicates that you can usually expect to be accepted when applying for credit and are in a position to choose between different credit providers who view you as a lower lending risk.

Credit rating 5

A rating within the top banding indicates that you are usually unlikely to be rejected when applying for credit and can typically take advantage of the best deals available in the market.

Will this affect my clients credit rating?

When a credit check is undertaken through Amiqus ID, a mark will be noted on their file to confirm that the check has been run. This will show as a, "enquiry footprint". This provides you with the information on the third party data source asked to undertake the check.

Their credit rating will not be affected.

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