Have been denied credit..why???

BugsyBrowne

mumx3 wrote: »

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?

Yeah its a pain unfortunately we seem to have covered all barriers why the decline, and think it must be your available credit, or another thing you can do is book an appointment down at your local HSBC take your credit report with you and explain to them that you bank with them your a good customer and you've turned me down for a new kitchen.

KingElvis

Your report may be great in your eyes but someone, somewhere is having none of it.

Jeff_Bridges_hair

jesz wrote: »

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.

What? you make little sense..

They have the credit available to them in the form of their credit card. A lender will look at this and their wage and think they are asking for too much in relation to the wage thus declining them the loan

mumx3

star-fire wrote: »

Yeah its a pain unfortunately we seem to have covered all barriers why the decline, and think it must be your available credit, or another thing you can do is book an appointment down at your local HSBC take your credit report with you and explain to them that you bank with them your a good customer and you've turned me down for a new kitchen.

OK thanks for all your help, will get down to the bank tomorrow.

gadjah543

I would also check your original application form is accurate .One mis-key on something like a phone no can result in a rejection.

stclair

I think the HSBC underwriters are being strict at the moment as there making my life a misery too regarding a credit card application.

ravaro

Surely the answer is to buy the kitchen using your card and then switch the card balance to someone offering 0% transfers.

fozmcfc

Jeff_Bridges_hair wrote: »

What? you make little sense..

They have the credit available to them in the form of their credit card. A lender will look at this and their wage and think they are asking for too much in relation to the wage thus declining them the loan

Agreed, they already have £8000 whether used or not in available credit and want another £4000 in credit all on £16000.

I would definately say that is the most likely reason why they can't get it. Imagine if for some reason the OP needed to use the credit cards, potentially with the kitchen £12k in debt with £16k income.

In general £4k + the credit cards balances, would still be quite a lot of credit outstanding on a 16k income.