Will a provident loan affect getting a credit union loan?

Lenders will review your history and take their own view.

Recent loans may concern them, or it may not.

tuesdayweld wrote: »

I have had a provident loan a few times in the past and now repaying my current one a month early. I was quite astonished however that one loan I took out with them (before current one), got an immediate negative credit score despite also paying that back early too :cool:.


I emailed them about the negative credit score they placed on my credit file and advised them to please remove it, especially as no reason for it and they gave me a nice rebate of interest on that loan. No explanation for the bad credit score yet not checked it since I reported it.


Not at all trying to concern you, yet would first see what Provident score is on your credit file before applying for a different loan with other creditors. Something else I recently discovered: Searching for loans online with ANY lenders does impact credit ratings (whether or not you are successful) does feature on your (in-depth credit file) and remains there until you ask for it to be removed by those lenders!.

So many inaccuracies

Your "score" is s made up marketing gimmick which provident have no way of manipulating. They gave you the rebate as you as a regular customer and they want to keep you happy by making you think you are in the right, they are great and you will remain loyal to them. You could have complained about the colour ink they use in correspondence and you would have received the same outcome.

The reason why your made your made up number that's a marketing gimmick, you can also,call your score dropped significantly when you took out a provident loan is they are essentially a pay day loan, a sign of desperation to other lenders because nobody else will lend to you. Advice - stop with these kind of loans, let time heal your credit history and then if absolutely necessary then use a mainstream lender who will charge as low as 3 % Apr not the average 535.3% Apr provident charge.

Only hard search loan searches show on your credit report searches to other lenders, if you do a soft search through say MSE then although you can see it, nobody else can.

Any hard searches remain viewable for 12 months from the search, not until you ask them to remove.

FInally make sure you are not paying to see your credit reports, Experian charge £14.99 to daily access the made up number. All three credit agencies full history can be accessed for free...

:doh: