True, also the “hit rate” might be low but in all of the agencies they list me as excellent etc. So I imagine the lowered hit rate is due to essentially having two new credit accounts.
At this point it’s also academic as I have no intention of taking anymore credit (I have no need for it) plus NatWest has just doubled my available credit to £8000. So if the poopie does hit the proverbial fan then I have something to fall back on.
The Credit Reference Agencies make their money by up–selling their own score curation tools (utterly pointless as they make the number up) and cross–selling you loans and cards.
They will constantly ‘wobble’ your score up and down to keep you coming back and seeing these recommendations (ads).
I do get several notifications a day across the various apps about new offers and cards available. Can’t help but feel it preys a bit on people who maybe aren’t in a strong position to have all these offers dangled in front of them, and then they take a score hit afterwards. Whole industry around this stuff just feels immoral to me.
True it does feel somewhat immoral. But then I guess you could say the same about anything where they’re making their money by selling you stuff. The NatWest and now the FD app both advertise more lending etc only banking apps I have that aren’t trying to sell me debt are Nationwide and Virgin Money.