Have been denied credit..why???

mumx3

star-fire wrote: »

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!

Thanks for that, hopefully will get some answers tomorrow.

mumx3

mumx3 wrote: »

Thanks for that, hopefully will get some answers tomorrow.

Well have spoken to HSBC this morning, they cannot do anything suggested I get my credit score from Experian and to see if anything flags up, well nothing did and my score comes back at 999,

Where does this leave me now? how can I get a loan? and who do I need to speak to?

BugsyBrowne

mumx3 wrote: »

Well have spoken to HSBC this morning, they cannot do anything suggested I get my credit score from Experian and to see if anything flags up, well nothing did and my score comes back at 999,

Where does this leave me now? how can I get a loan? and who do I need to speak to?

Well for starters take no notice of the 999 credit score experian charged you for as its meaningless,remember they don't lend money and lenders takes a lot more info in when accessing applications, you proved that yesterday as your score was not higher enough for your kitchen.

1.You need to tell us more whats your income?
2.what are your balances on credit cards?
3.what are your credit limits on your cards?
Ps Also the price of the kitchen?

Jeff_Bridges_hair

mumx3 wrote: »

Well have spoken to HSBC this morning, they cannot do anything suggested I get my credit score from Experian and to see if anything flags up, well nothing did and my score comes back at 999,

Where does this leave me now? how can I get a loan? and who do I need to speak to?

As star fire says - forget the score. Get a full report on your credit history.

And then follow star fire

mumx3

star-fire wrote: »

Well for starters take no notice of the 999 credit score experian charged you for as its meaningless,remember they don't lend money and lenders takes a lot more info in when accessing applications, you proved that yesterday as your score was not higher enough for your kitchen.

1.You need to tell us more whats your income?
2.what are your balances on credit cards?
3.what are your credit limits on your cards?
Ps Also the price of the kitchen?

Income 16K
£667 balance on credit card will be paid on 21st feb (due date)
£4000, limit on both on credit cards
£4230 New Kitchen.

BugsyBrowne

mumx3 wrote: »

Income 16K
£667 balance on credit card will be paid on 21st feb (due date)
£4000, limit on both on credit cards
£4230 New Kitchen.

So 8k in total in credit limits with just £667 balance.

Shot in the dark here has your partner got bad credit history if yes are you financially associated.

If you say you have no missed/late payments,income 16k,debt £667,on the electoral role,you haven't moved address recently,not always in your OD.
You seem a good candidate for credit although your income is fairly small you still have no debt.
So the only thing I can think of must be your available credit by the looks of it!

Jeff_Bridges_hair

So in reality you have most of the kitchen price available to you on a credit card - It may be this that is stopping you as you do have the funds available to purchase it should you want to wait a month to save up for the rest.

jesz

Jeff_Bridges_hair wrote: »

So in reality you have most of the kitchen price available to you on a credit card - It may be this that is stopping you as you do have the funds available to purchase it should you want to wait a month to save up for the rest.

How this be right? People are saying above or elsewhere you cant be in too much debt, yet you also cant have credit ava to you? You cant bloody win!!! Lets just face it, its rock solid getting credit of any kind these days, because this country is in such a poor stait.

mumx3

Shot in the dark here has your partner got bad credit history if yes are you financially associated.

Nope, no bad credit there either, this is why I'm so angry over the whole thing.

How and who do I contact over this, have printed off my full credit report from Experian and it's all great, I just don't get it!!

So who's declining my loan? and why?

jesz

the goverment