declined.... then accepted

andyguk

Hey guys

I applied for a loan about 3 months ago but was refused, I applied for another and was refused. I wondered what might be wrong as I never miss payments, have a mortgage, couple of credit cards. Finally found out I wasn't on the electoral roll at my new address (moved in 10 months ago). So decided to sort the electoral roll out and waited a month.

In the meantime I managed to piggyback a loan through my brother who was getting one for a car at a great rate. Wanted to get a new boiler in the house which is all done now. However I recently came to the end of my 0% interest on my balance transfer credit card, so shopped around for another. Again I was refused, so tried another, again I was refused. Checked the electoral roll and that was correct.... and then realised that too many checks on my credit record may have been the problem this time. One of the cards was a Tesco credit card, so I wrote to them and explained my situation. I received a response within 3 days to say I had been accepted... a complete u-turn to the original decision.

The thing is we never know the EXACT reason for being refused. It's just a general decision based upon not meeting the bank's overall requirements at the time. But it just goes to show that standing up for yourself and making yourself heard can actually work.

Andy