Declined?

C.91

So I already have an existing loan with sainsburys bank of £1,000.
This started in febuary.
I tried to increase my loan in April and it was declined?
When I phoned back to ask why, they just said that my answers did not meet their Criteria. So, if I need a loan in the future I guess I won't be able to get one.
I've never missed a payment, I had one late payment which showed on my experian credit report, but that was before my existing loan even started. It kinda made me feel stupid getting declined, I'm too scared to try again, and I'm worried I won't get another loan.

opinions4u

Many lenders are unwilling to increase the amount owing within six months of a loan being taken out.

And who can blame them?

Buzby

I certainly don't get that impression - if you tried again having cleared off (say) 50% of the original amount borrowed this shows you're responsible and - more to the point, profitable.

thefishdude

you borowed money in january 3 months later you are out of money and need to borrow more, im pretty sure that would set of alarm bells in in the lending criteria.

DCFC79

For what purpose did you want to increase the loan ?