Have been denied credit..why???

mumx3

Have just been to purchase a new kitchen and take out their interest free credit, and have been denied, the store could not tell me why, they say I have to write off to the Bank HSBC who are their finance company.

I owe nothing, and never have, I have taken out loans in the past and always paid back within the time.

I bank with HSBC and so will be paying them a visit tomorrow to try to find out why I have been refused.

Can anyone tell me as to why I should be refused? my credit rating has always been execellent and I cannot think of a reason why this should change.

Any ideas anyone, I'm angry and confused as to why this is has happened.:mad:

BugsyBrowne

mumx3 wrote: »

Have just been to purchase a new kitchen and take out their interest free credit, and have been denied, the store could not tell me why, they say I have to write off to the Bank HSBC who are their finance company.

I owe nothing, and never have, I have taken out loans in the past and always paid back within the time.

I bank with HSBC and so will be paying them a visit tomorrow to try to find out why I have been refused.

Can anyone tell me as to why I should be refused? my credit rating has always been execellent and I cannot think of a reason why this should change.

Any ideas anyone, I'm angry and confused as to why this is has happened.:mad:

If you have no credit cards or loans at the moment your credit rating would be very low.
These days you have to have credit to achieve excellent credit scores, hence you don't have that at the moment is the reason you were turned down!

mumx3

star-fire wrote: »

If you have no credit cards or loans at the moment your credit rating would be very low.
These days you have to have credit to achieve excellent credit scores, hence you don't have that at the moment is the reason you were turned down!

This is absolute madness, I have credit cards but pay off the balance every month, maybe I should be in debt and owe £££££'s in order to be able to get credit, it's so wrong.

HSBC better get this sorted, and do what ever they have to, I need a new kitchen!!

BugsyBrowne

mumx3 wrote: »

This is absolute madness, I have credit cards but pay off the balance every month, maybe I should be in debt and owe £££££'s in order to be able to get credit, it's so wrong.

HSBC better get this sorted, and do what ever they have to, I need a new kitchen!!

Then you will have to apply for loan then with hsbc! sounds more than likely you have to much available credit if you say your paying in full every month!

McKneff

I had this last year, we own our own house, no mortgage, no debt, substantial savings with the Halifax, £1500 salary in to the account every month, pay credit cards off in full every month. Applied to the Halifax for a CC - Got a decline within minutes, I was absolutely furios.
Branch couldnt understand it either.
Very close to closing everthing down but calmed down in time.

mumx3

McKneff wrote: »

I had this last year, we own our own house, no mortgage, no debt, substantial savings with the Halifax, £1500 salary in to the account every month, pay credit cards off in full every month. Applied to the Halifax for a CC - Got a decline within minutes, I was absolutely furios.
Branch couldnt understand it either.
Very close to closing everthing down but calmed down in time.

You sound the same as us, Husband said the same thing if HSBC don't sort it then we will be moving banks, been with them for 17yrs.

BugsyBrowne

mumx3 wrote: »

You sound the same as us, Husband said the same thing if HSBC don't sort it then we will be moving banks, been with them for 17yrs.

I don't understand why your bringing HSBC into it unless they are selling kitchens of course.

mumx3

star-fire wrote: »

I don't understand why your bringing HSBC into it unless they are selling kitchens of course.

HSBC are the loan company that the store uses for it's credit loans, I also bank with them.

BugsyBrowne

mumx3 wrote: »

HSBC are the loan company that the store uses for it's credit loans, I also bank with them.

Right thats now put into a different perspective,you defiantly haven't had no late payments in the last couple of years, or missed payments,if no is the answer its got to be to much unused credit!

mumx3

star-fire wrote: »

Right thats now put into a different perspective,you defiantly haven't had no late payments in the last couple of years, or missed payments,if no is the answer its got to be to much unused credit!

Sorry if it was a little mixed up, I'm so angry about the whole thing, no haven't had any late payments, or any missed payments, How can someone have too much un-used credit?.

The last interest free loan was with DFS for furniture, that ended about 8 months ago.

BugsyBrowne

mumx3 wrote: »

Sorry if it was a little mixed up, I'm so angry about the whole thing, no haven't had any late payments, or any missed payments, How can someone have too much un-used credit?.

The last interest free loan was with DFS for furniture, that ended about 8 months ago.

Its basically debt to credit ratio so if you have say 1 credit card with a balance of £0 and a credit limit of £10k it means you have 100% of unused credit at your proposal if thats the right word lol,which to banks may look at it like you might well do a runner with that amount of money, Yes its stupid we all know but thats the banks for you!