Refused loan and have high credit score

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Comments

  • andju6290
    andju6290 Posts: 34 Forumite
    First Anniversary First Post
    I only looked at scores, I'll have to have a closer look. I'm a bit new to all this !
  • Dobbibill
    Dobbibill Posts: 4,134 Ambassador
    First Anniversary Mortgage-free Glee! Name Dropper First Post
    You will need to check ALL the data in detail.
    name - spelling, address - any previous including dates, formattimg, DOB, the ER with all 3 CRAs, any aliases, any financial connections, all searches, accounts - open/closed including accurate dates.

    Do this for all 3 CRAs - MSE Credit Club, Clearscore & Noddle. These are all free.
    Different providers use different CRAs.

    You may never know why, they don't disclose their criteria but whenever you do an application for credit, remember it's not personal, they just might not fancy you as a customer. ;)
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    If you can't be the best -
    Just be better than you were yesterday.
  • BoGoF
    BoGoF Posts: 7,099 Forumite
    Name Dropper First Anniversary First Post
    Do you use your credit cards regularly? If not, may be best to spend on them and pay in full each month.
  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    andju6290 wrote: »
    I wanted to take the loan given the advertised very low interest rates but as I'm discovering they are not likely to be as low as advertised. I may just leave it for now, cancel the credit cards I'm not using and use my 0% interest card for now .

    Did you want the loan to 'improve' your 'credit score'? Or actually FOR something?

    Never pay interest to do the former.
  • andju6290
    andju6290 Posts: 34 Forumite
    First Anniversary First Post
    Ive checked my credit reports and the only thing it looks like is that I have made this loan application on top of getting a credit card with a 9K limit in recent months , plus another credit card from a store i just applied for to get 20% off purchase of some expensive shoes, so it may look like in the past 12 months ive gone a little credit crazy compared with previous 10 years when ive hardly used credit cards and had no loans.

    My report is very good on all 3 companies. So think for a while i'll close a few cards down I dont use , and use my 0% credit card for next year seeing as I have 9k limit on it.
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