Sainsburys Loans how difficult to be accepted?

loopy.magic

Can anyone tell me their experiences when applying for a loan from Sainsburys bank? Do they have a higher or lower criteria / credit scoring system for loans compared to others?

Has anyone applied unsuccessfully for a loan from other banks and then been accepted by Sainsburys?

Thanks

Deep_In_Debt

I'm going back a few years now but just about everywhere I tried rejected me and Sainsbury's were the only company who accepted me and I didn't have a brilliant credit score then especially after all the credit checks that mainstream lenders had made.

I was looking to borrow a smallish amount though - 3k - fixed interest rate, think it was about 6.5% for the term of the loan, so don't know if it depends on the amount you wish to borrow as to whether you get accepted or not.

loopy.magic

Deep_In_Debt wrote: »

I'm going back a few years now but just about everywhere I tried rejected me and Sainsbury's were the only company who accepted me and I didn't have a brilliant credit score then especially after all the credit checks that mainstream lenders had made.

I was looking to borrow a smallish amount though - 3k - fixed interest rate, think it was about 6.5% for the term of the loan, so don't know if it depends on the amount you wish to borrow as to whether you get accepted or not.

Thanks, I'm lining up a couple of loan application attempts. Going first with my own bank but hopefully can use Sainsburys as a backup in case I'm rejected. I don't have a great credit score so here's hoping they're as nice to me as they were to you

never-in-doubt

Keep us posted please......

loopy.magic

BUMP - Anyone else have experience of Sainsburys Loans?

gargantuan_2

I was refused a 5,000 loan last year with Sainsburies. I was not given a reason, and I'm still not sure why I was refused as my credit report is good. Didn't matter though as I just applied elswhere and was accepted.

loopy.magic

gargantuan wrote: »

I was refused a 5,000 loan last year with Sainsburies. I was not given a reason, and I'm still not sure why I was refused as my credit report is good. Didn't matter though as I just applied elswhere and was accepted.

Thanks, may I ask who you applied to and were accepted with?

asandwhen

I was accepted for a 13k loan with Sainsburys in September at 7.9%

richardginger

Sainsburys use the same credit criteria and scoring as everyone else, if you can't get a loan with your bank it is unlikely that you will get a loan with Sainsburys. It might be an idea to look at ways of improving your credit score. Get a copy of your credit report and see what the problem is. Good luck . . .

Deep_In_Debt

richardginger wrote: »

Sainsburys use the same credit criteria and scoring as everyone else, if you can't get a loan with your bank it is unlikely that you will get a loan with Sainsburys. It might be an idea to look at ways of improving your credit score. Get a copy of your credit report and see what the problem is. Good luck . . .

I was rejected by my bank and many mainstream lenders but accepted with Sainsburys so not sure on the criteria they use.

Sainsburys Finance are part of RBS so if you owe money to RBS or any links to RBS, they may reject you.

LeeSouthEast

Sainsbury accepted me (and new now ex) wife in 2005. My credit rating was pretty naff back then. Got it at 8%.