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Credit Reference Agencies

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  • Do they have to provide an exact reason then? Interesting stuff this. I'm pretty sure they said credit score, which will be their score rather than the CallCredit score I've got so wound up about presumably?
  • never-in-doubt
    never-in-doubt Posts: 20,613 Forumite
    edited 26 September 2009 at 9:20PM
    funion wrote: »
    Do they have to provide an exact reason then? Interesting stuff this. I'm pretty sure they said credit score, which will be their score rather than the CallCredit score I've got so wound up about presumably?

    No. I stated the main 3 reasons above - this is the only versions they have to give. Whatever hides inside depends on the reason.... tell me which your decline was and i'll be able to help why they declined you! i.e. the missing link you so desire :D

    Ok, so they said Credit Score - therefore it means you failed before they would even check the CRA data.... it works in order of heirarchy so if you fail a credit score you fail - if you pass this they then assess your existing lending with the CRA's and if you pass this then they check cifas/n hunter etc and if you pass this you're home and dry.... the process takes less than a second of course being computerised!

    So in your case it would appear they declined for one of the following:

    1. The info you provided does not fall within their lending scope (i.e. risk or emplyment type - could be anything)
    2. You have too much borrowing
    3. You have not been at employer/address long enough
    4. You're not on the electoral register

    That's the kind of things you want to be checking, something on your application failed you - nothing the CRA's would have given. In a nutshell, they do not want your business.
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
  • Excellent, thanks. They declined it due to credit score, that's all I was told. I went off and assumed it was the cr*p displayed on CallCredit that had caused this. Please enlighten me and I will forever regard you as a credit svengali. What else do you need to know? Ask and I will provide.. :-)
  • funion wrote: »
    Excellent, thanks. They declined it due to credit score, that's all I was told. I went off and assumed it was the cr*p displayed on CallCredit that had caused this. Please enlighten me and I will forever regard you as a credit svengali. What else do you need to know? Ask and I will provide.. :-)

    By the way, just so you know Call Credit is not really a CRA - lol. They are what I refer to as the cowboys of the 3! To learn anything write to the CRA's (Experian/Equifax) and get a copy of their report in front of you.....

    Then you'll see exactly what other lender can view.... no1 searches CallCredit as their base search, they always use Experian/Equifax first and follow up with Call Credit if they need extra data.

    Best to see here - this will show you what lender searches what CRA - as you'll see, no1 uses Call Credit as the main search (Monument is no longer accepting customers): http://forums.moneysavingexpert.com/showthread.html?t=1033817
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
  • Ok, so they said Credit Score - therefore it means you failed before they would even check the CRA data.... it works in order of heirarchy so if you fail a credit score you fail - if you pass this they then assess your existing lending with the CRA's and if you pass this then they check cifas/n hunter etc and if you pass this you're home and dry.... the process takes less than a second of course being computerised!

    So in your case it would appear they declined for one of the following:

    1. The info you provided does not fall within their lending scope (i.e. risk or emplyment type - could be anything)
    2. You have too much borrowing
    3. You have not been at employer/address long enough
    4. You're not on the electoral register

    That's the kind of things you want to be checking, something on your application failed you - nothing the CRA's would have given. In a nutshell, they do not want your business.

    That is really interesting thanks. They don't like me do they. Not sure why though. Permanently employed as a Senior Manager for the same company for 7 years, at same company address. On electoral reg. for 10+ at same residential address. Not much borrowing, as previously described. Any ideas? New staffer maybe cocking up the application? Worth complaining to them?
  • funion wrote: »
    That is really interesting thanks. They don't like me do they. Not sure why though. Permanently employed as a Senior Manager for the same company for 7 years, at same company address. On electoral reg. for 10+ at same residential address. Not much borrowing, as previously described. Any ideas? New staffer maybe cocking up the application? Worth complaining to them?


    Ok, so you appeal to them then! Use my template here: BEEN DECLINED - Appeal Letter Template

    Lots of successes with that letter lol :cool:
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
  • Brilliant thanks that's great I will do this. I'll report back exactly what the outcome was. :-)
  • never-in-doubt
    never-in-doubt Posts: 20,613 Forumite
    Shameless BUMP to get back onto the main page! :D:D
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
  • NID u r a true legend!
    cheers for this new thread
  • NID u r a true legend!
    cheers for this new thread

    LOL, thanks mate - this was done in September! :D
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
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