Sainsburys loan application

scotty05

I have just had the same message and understand everything as far as the possible higher rates go. However, what do they specifically mean by 72 working hours? Surely depending on their interpretation that's anything from around 3 days to well, who knows!?! It's a ridiculous thing for any company to say in this day and age. Apologies if I've missed something but any help would be much appreciated!

Thanks in advance

DCFC79

scotty05 wrote: »

I have just had the same message and understand everything as far as the possible higher rates go. However, what do they specifically mean by 72 working hours? Surely depending on their interpretation that's anything from around 3 days to well, who knows!?! It's a ridiculous thing for any company to say in this day and age. Apologies if I've missed something but any help would be much appreciated!

Thanks in advance

Oh i know its so ridiculous, how dare a company state 72 hours, 72 hours means 72 hours

Forwandert

DCFC79 wrote: »

Oh i know its so ridiculous, how dare a company state 72 hours, 72 hours means 72 hours

No it doesn't from now until Tuesday wouldn't be included, I'm guessing it means weekdays so probably Friday or next Monday.

DCFC79

Forwandert wrote: »

No it doesn't from now until Tuesday wouldn't be included, I'm guessing it means weekdays so probably Friday or next Monday.

I was being pedantic (if correct word), i wasnt sure if sunday would be included.

iaintw

Babbler,
if you apply for a loan they need to check your last three months wageslip, official passport or driving licenices and a recent bill like from your bank account with the same name and address

markwilkinson

The wife applied for a 10k loan with them about 6 weeks ago. She got a message to phone them, but I don't recall it being 72 hours later, she phoned them as soon as she got the message. All they wanted to know was what the money was for - new car and consolidation. The loan was approved instantly at the advertised rate of 6.9%. As the OP said, documents arrived by courier, who waited whilst the wife checked and signed them. Money arrived in the account a few days later. All very painless and the 6.9% rate knocked socks off what she was offered from our bank. For those who are interested in such things, she gets double Nectar points for the next 12 months and got a £100 Sainsbury voucher too.

marcus67uk

Do you think i would get accepted on a sainsburys loan for 10k i have good credit history apart from 1 old default from 5 and half years ago for £400 but i have got mobile phone accounts 2 credit cards with limits of £2400 and £500 all run correctly would try lloyds but i have the dreaded CPD on there as i got the account when i first defaulted. But that was all when i was young im a good worker these days.

Saints2011

marcus67uk wrote: »

Do you think i would get accepted on a sainsburys loan for 10k i have good credit history apart from 1 old default from 5 and half years ago for £400 but i have got mobile phone accounts 2 credit cards with limits of £2400 and £500 all run correctly would try lloyds but i have the dreaded CPD on there as i got the account when i first defaulted. But that was all when i was young im a good worker these days.

How many posts do you want to make, the answer is still the same NO.

Bliss77

I applied for a 15k loan with sainsbury's last week to purchase a car. We applied with sainsbury's after doing the comparison on this site and seeing they were offering 5.5% APR.

We applied on the Sunday night and then received the message about calling them 72 hours later. Whilst our credit rating is good and we could afford the loan, we did fear the worst and that they were either going to decline our application or offer us a much higher rate. As it was worrying us I called then first thing on the Monday morning. The guy I spoke to was really helpful - he asked me what the loan was for and then confirmed my application was approved... and at the 5.5% rate too!

So if you do received this message please don't worry - it doesnt mean you have been turned down. AND... it seems there is no need to wait 72 hours either!

zaynab

I will be applying for 7500-15000 loan on 5.5 APR soon but dont have a landline will they reject my application due to that. Also i will not be able to provide 3 yr address only 2 yrs. I dont have any credit card or loan this is the first i am applying for and in full time employment earning 28000 annually.