Declined by Santander for small loan

Northants_Simon

I have a very good credit record, no missed payments, on Electoral role, own my house (on mortgage, I'm overpaying and have been for a few years), have 2 credits cards with combined £30k limits and only owe around £3k on them. I have a good income and my wife also has a good income.

I recently was purchasing something and the sales person mentioned they have interest free credit, I thought why not, won't cost me any more to spread the payments. I was turned down which was rather embarrassing as it was only for £400. I just rechecked my credit file and everything looks fine.

I already have one interest free loan running with the same company for a small amount (about £300 for a freezer) and am up to date with payments.

They won't tell me why I was turned down, so any ideas why they might do that?

trevor_1977

maybe they turned you down because you would of paid it off before the interest free period had ended and the chances of them making from you would be bad ,they made a good business decision ,it happens move on and forget about it .

Emmzi

30k is a very high set of card limits, I would imagine it is that. if you don't use them, get them reduced.

CH27

You have a lot of credit available to high & that may have exceeded your income/potential debt ratio.