People often assume that making complaints about a financial product or service could affect and damage their credit score or their ability to borrow in the future. This is common, and if you’re also wondering about this, then the honest answer is no. Not because you’re raising a concern about the service you availed, or making refunds like in a pcp claim check, means it could impact your credit score. These aren’t activities that appear on a credit report, nor do they affect your creditworthiness or influence how lenders assess you financially. Raising a concern is simply about your rights, and not a hint of financial distress. Let’s break it down further. 

Does a Complaint Show on My Credit Report?

Making a complaint has no connection with what is shown on your credit report. A credit report includes information such as loans you’ve taken out, payment histories, credit card balances, defaults and even recent applications of credit. But even if there are many activities that can be seen on a credit report, this does not include complaints made to any entity, may it be to a financial institution, a regulator or an ombudsman. 

You can complain about a financial service, such as a credit card, mortgage and bank account, while being confident it remains private. Having to ask if PCP claims are legitimate isn’t a bad thing either. When you file a complaint, it doesn’t involve credit checks, nor does it result to a hard inquiry on your credit file. Queries about refinancing and whether you can still make a claim, or questions about commissions, aren’t a factor in your credit standing either. 

A complaint or query on a car finance case is simply an administrative process between you, a company, and possibly a third-party complaints body such as a financial ombudsman or the Financial Conduct Authority, when escalated. However, as reiterated, it has nothing to do with your credit report. 

Could Lenders See Me Differently for Complaining?

Making a complaint often paints this notion that you’re a customer who’s extremely difficult to please. But this is a myth, and certainly doesn’t apply to making a car finance complaint. Lenders have no access to complaint records, which means they’ll never know you made a complaint to a certain entity in the first place. Financial institutions are restricted from sharing or accessing this kind of personal information, nor should it affect their credit decision. 

Your complaint didn’t reach a background check. Also, making a complaint isn’t a sign of financial instability; rather, it’s simply making the intent to resolve an issue or correct a mistake. You simply use the channels available to ensure fairer treatment. 

Simply put, if you were charged by your bank twice for the same transaction, wouldn’t you feel the need to want your money back? This is exactly what a complaint is all about. You say that you found out something was wrong and simply request to make it right. You have every right to a complaint without fearing there may be repercussions to your credit standing. 

Should I Worry About Future Access to Finance?

Definitely no. Filing a complaint has nothing to do with whether you will be approved for a loan, mortgage or any future credits. When a lender looks into your financial history, they only see your income, existing debts, and credit score. They care less about your complaint history or whether you have previously filed a claim about a product or service. 

Also, making a complaint puts you in a better financial standing. Let’s say you disputed a misapplied fee or challenged an unfair loan and term, and your complaint was upheld, then you may receive compensation or a corrected credit file, which can then strengthen your overall financial position. 

As a consumer, it’s your right to file a complaint especially in situations where you feel you have been wronged. After all, it’s your hard-earned money we’re talking about in the first place. Submitting your claim while feeling confident makes the entire process smoother and less of something to worry about.