NatWest Loan agreed in principal? and my credit rating?

MrBlackCard · 12 October 2010 at 3:58PM

Hi everyone, this is my first post on the boards. I was hoping for a little advice.

I just applied for a very small loan with the NatWest to go towards a used car and in the end i got the loan agreed in principal thing and they would be sending papers to sign.

I'm worried that when i said i had credit cards and to enter my balance i kept getting an error so i just left the field blank and clicked through. It also asked if i had any other loans, stupidly i said no, i was thinking of bank loans forgetting i've successfully paid off and have one provident loan. I've never missed a payment on anything in my life and completed mastercard creditbuilder. Sadly due to circumstances all my cards (4 credit 1 NatWest 2 overdrafts) which are met with min payments but nothing has EVER gone over or been missed. My last credit search was for a successful overdraft wit the NatWest about 4 months ago. Even more stupider i just realised entered in LESS than what i'm actually earning and if they request a credit card statement i'll have sod all since i'm online and paperless.

I've been on the electrol register since i was 18 and had my first card at that age too and earn well within my means to pay them it just turns out i've only done the min as i didn't realise paying in full improved your rating.

I really don't trust the credit scoring agencies because every corporation seem to play by my own rules.

I was hoping you guys could tell me what condition you think my credit rating is in and the NatWest thing. Guess i'm a bit paranoid, what do you need to get a instant decision? Is there something wrong with my rating because i didn't get one? should i just wait for the papers or phone my branch ans say i've made a mistake and there were some errors applying?

Thew! sorry for the long post. I'd really appreciate all of you guys thoughts.

Thanks

KingElvis · 12 October 2010 at 4:48PM

If you bank with Natwest and your account is always in good order then you should be OK.

I've only been with them six months and have been accepted for a 2k overdraft and a Classic credit card, I bet if I pushed the loan button I could have that too but I don't need it.

Saying that, if the details on your application don't match with reality, you could have problems.

Good Luck.

MrBlackCard · 12 October 2010 at 5:50PM

KingElvis wrote: »

If you bank with Natwest and your account is always in good order then you should be OK.

I've only been with them six months and have been accepted for a 2k overdraft and a Classic credit card, I bet if I pushed the loan button I could have that too but I don't need it.

Saying that, if the details on your application don't match with reality, you could have problems.

Good Luck.

Thanks, :cool: yeah i've noticed the NatWest are quite generous too. It's not really facts no matching reality eg I have a job that i don't, there was just some sort of error that said to talk to live chat when it would not accept anything about my Credit Card Balance.

The rest in my opinion, is positive information that i forgot to add.

Anyone have any opinions on what my credit rating might be like? I've had all my accounts since i was 18. 21 now. I'm not rich or in a well paying job by any means as i'm still studying but i'm financially comfortable.

NatWest Loan agreed in principal? and my credit rating?

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