Loan Refusal- quick questions

philb120

I've just been refused a loan by Alliance & Leicester- I hold a credit card and current account with them so its a bit of pain. I've never been refused before and my credit rating is good (just checked with annualcreditreport). I only wanted to reduce the apr I'm paying on my personal loan at the HSBC so its not really major as it only has 3 more years to run.

My questions are when I apply for credit later on and they ask if I have ever been refused credit do I have to say about this loan refusal and will it adversley affect my application ? How long do I have to keep saying about it if I do ?

Many thanks in advance for any help people can give me.

jonesMUFCforever

You have to answer questions on applications truthfully.
If they ask about previous applications you have to provide details (but they will be able to see anyway by checking your credit files) but if they don't ask you do not have to say anything.
Might be worth checking your credit history in case there's something there that should'nt be.