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In Branch or on Phone??

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Joeler
Joeler Posts: 179 Forumite
On smallish unsecured loan amounts (3k), will going into my banks branch offer me any increased liklihood of acceptance rather than applying over the phone, internet etc etc?

I've had a loan with them before for 6.5k which I paid off early about a month ago, but was thinking of getting a new car and trading mine in before Xmas.

Thoughts are appreciated as always you helpful little monkeys

Comments

  • Rafter
    Rafter Posts: 3,850 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Joeler,

    Should make no difference whether or not you get accepted - although a lot of headline best buy online loans are for very low risk customers only.

    If your credit rating is ok, you are employed and haven't changed jobs recently then you should be fine.

    The rate on £3k loans isn't great. You might be better off trying Zopa or getting a £5k loan with no early redemption penalties and repaying the £2k you don't need almost immediately.

    If you earn enough, you might also be able to get a 0% credit card instead which allows balance transfer to your current account - although the fees can make this more expensive if you don't do your sums right.

    Good luck

    R.
    Smile :), it makes people wonder what you have been up to.
  • Joeler
    Joeler Posts: 179 Forumite
    Great advice as always thanks a bunch :)
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