Credit checks explained đ
When you apply for credit, lenders run a hard credit check to look at your financial history. This isnât unique to insurance â the same happens if you take out a credit card, a phone contract, or a personal loan.
Why does this happen with Rooster? đ€
If you choose to pay your Rooster insurance monthly, youâre entering into a credit agreement with our finance provider, Premium Credit. Because itâs classed as a loan, they must run a hard credit check.
What this means for you: đ
Itâs a loan â even though youâre just spreading out your payments
It shows on your credit report â a record (or âfootprintâ) of the check is added
It may affect your score â one search usually has little impact, but multiple searches in a short time can bring it down
It can be unexpected â many people donât realise monthly insurance is technically a loan
In short âĄ
If you pay monthly through Premium Credit, a hard credit check will be done and recorded on your credit file.
Need more help? Chat with us via the Rooster app or website đŹđ± We're open Monday-Friday 10-6pm.