Declined For A Loan... Appeal?

Anthony_B

I have been a customer of Tesco Finance for 2 years now, I have been repaying an amount of £230 per month back on a loan I got from them.

As my loan ends in April, I do now only have 2 more payments to make. I applied to renew this, but was declined.

I feel that they've not reviewed my account or me as a customer, I've never missed a payment throughout the 2 years.

Do you think an appeal would make them review my application and look at my account as it is just a computerised process?

Thanks

BugsyBrowne

Anthony_B wrote: »

I have been a customer of Tesco Finance for 2 years now, I have been repaying an amount of £230 per month back on a loan I got from them.

As my loan ends in April, I do now only have 2 more payments to make. I applied to renew this, but was declined.

I feel that they've not reviewed my account or me as a customer, I've never missed a payment throughout the 2 years.

Do you think an appeal would make them review my application and look at my account as it is just a computerised process?

Thanks

Well they would of credit searched you again,so is there anything on there like to much debt or late/missed payments on anything.

paddyrg

They are a business, their commercial decisions will be opaque, and I can't imagine there's any sense in appealing whatsoever, just look at other lenders. Perhaps despite your model behaviour they note other changes in your circumstances? Try zopa if you're clean :-)