Some borrowers now have a better chance of being accepted for a credit card or personal loan than at the start of the year, a study has found.

Credit checking company Experian said more than six in 10 (61%) customers using its “marketplace” – a money and car insurance comparison service – had a credit card offer they had been pre-approved for in August, compared with 47% in January.

And 44% of customers had a loan offer they were pre-approved for, up from 33%.

As lenders continue to bring competitive products to market consumers have a better chance of being pre-approved for a product that meets their needs

Sebastian Worbs, Experian

Consumers’ eligibility ratings appear next to each result when they compare credit products.

“Soft” credit searches are made when people compare products with Experian.

Soft searches allow companies to take an initial look at information on someone’s credit report without an impact on their credit score or future applications. They indicate whether someone is likely to be successful if they apply for a particular loan.

Even customers whose credit scores were classed by Experian as poor or very poor were more likely to see credit card and loan offers they were pre-approved for in August than in January.

Sebastian Worbs of Experian consumer services said: “Eligibility ratings give people an indication of their chances of being approved for a specific credit deal. As lenders continue to bring competitive products to market consumers have a better chance of being pre-approved for a product that meets their needs.”