Loan turned down - can't see any credit problems

gabymum

Hi
I have just been turned down by Black Horse for a loan. I have one with them currently (over a year) and this has been run perfectly. I check my credit file regularly via credit expert and all my accounts on there show they are satisfactory.

The only thing I can see is in the past year I have had two late payments (only by a few days) although this only shows in the report round up and not on the seperate account histories. We have some equity in our property (although this was an unsecured loan)

Is it the 2 late payments? or one of the many other non-specified and closely guarded secret reasons for not lending me the money?

Clive_Woody

gabymum wrote: »

...and this has been run perfectly.

The only thing I can see is in the past year I have had two late payments

I think you have answered your own question, this loan has not been managed perfectly, there were two late payments. I suspect this will count against you for future applications.

gabymum

Hi
Sorry - probably not been clear. The two late payments weren't for the loan with them. I think it must have been my store card some months ago, although this isn't actually showing on any of my accounts i.e they all show as 0's on my credit record

nembot

The actual score given on the credit agencies, is pretty meaningless.

However, the two late payemtns will severly damaged the chances of getting another loan, if they're within the last 12 months.

Try your bank first, if they say no - you're only chance will be with the sub prime lender (very high interest rates).

Gotta ask yourself, do you really need the money?