Immediately turned down for a loan...but will a credit search show?

The_Boss

All good info. My issue is the fact I have never missed a payment in 5 years of having credit yet the searches total difference between Equifax and Experian means I am almost Excellent on one, and almost very poor on the other. Very frustrating.

Xtimesrichlist

my galfriend has struggled to get a personal loan for the past three years, she only managed to get a £200 Capital 1 credit card, which i thought was a joke. any advice peeps?

Debt_Free_Chick

Catch_A_Fire wrote:

I'd be surprised to find any mainstream lenders who use 'poor', 'good' etc ratings or scores (/1000 or /500 etc) from CRAs to assess applicants. I would expect them to analyse the data (ie. all the information showing on your credit file with whichever CRA they search) to create their own image of you as a potential customer and compare that with their criteria.

Agreed - lenders do not use the CRA "rating". In fact, there is no such thing as a CRA rating, as such. The ratings they show you are just their own assessment of how they think the average lender will score you.

Also, bear in mind that the CRA does not show (and they do not know) that you have been turned down - it just records the existence of a search. You could apply for 5 loans, get 5 acceptances and your CRA record would just show 5 searches. Same information would appear on your CRA record if you had 5 refusals.

To many lenders, one recent search doesn't matter as it simply shows you've been shopping around.

VenuS

Treaks wrote:

Try Barclay's,

I applied for a credit card with them and they checked my Equifax.

Good Luck

Barclays also check with Experian as well as Equifax.