I just dont understand???

The_Matelot

Hi all.
I have been accepted for a 4k loan from tesco finance. I am using this to get a new car (2.5k) and to pay off 400 to cap one and 360 to DLC for my wife to give her some breathing space with her vast amount of creditors.

I sailed through the credit check and the final check and they even offered me thier best rate for this kind of loan (13.7%) now what i cant understand is this..... I have been banking with natwest for 4 years problem free, no charges or returned direct debits, always have money in the account and have small savings with them.... Yet they refused me a 3k loan twice in a 12 month period?

I thought it would be harder to get a loan with a company like tesco than with your own bank who knows how you are with money? Or am i under the wrong imppression?

Any opions as always appreciated

opinions4u

Your belief that it would usually be easier to get a loan with your own bank than Tesco is correct.

But different providers credit score in different ways, so the rule is not hard and fast.

Cash_Flow

The_Matelot wrote: »

Hi all.
I have been accepted for a 4k loan from tesco finance. I am using this to get a new car (2.5k) and to pay off 400 to cap one and 360 to DLC for my wife to give her some breathing space with her vast amount of creditors.

I sailed through the credit check and the final check and they even offered me thier best rate for this kind of loan (13.7%) now what i cant understand is this..... I have been banking with natwest for 4 years problem free, no charges or returned direct debits, always have money in the account and have small savings with them.... Yet they refused me a 3k loan twice in a 12 month period?

I thought it would be harder to get a loan with a company like tesco than with your own bank who knows how you are with money? Or am i under the wrong imppression?

Any opions as always appreciated

Tesco have money to throw around, RBS don't have a pot to !!!! in;)

The_Matelot

^^^ i like this!