Declined £320 credit

lee2k5

Hi All,

Just thought I would let you all know my amusement that after applying for 6 months interest free finance in Tesco for an Ipad I wan declined. The next week I was approved for a £10k loan.....go figure???

Wutang_2

Go figure what?

Apples2

Figure out how 10k plus interest is going to be repaid without a hitch probably.

BugsyBrowne

lee2k5 wrote: »

Hi All,

Just thought I would let you all know my amusement that after applying for 6 months interest free finance in Tesco for an Ipad I wan declined. The next week I was approved for a £10k loan.....go figure???

My mate has lived in his overdraft since I've known him and his bank were quite happy to loan him 12k go figure that or is the talk about living in your OD makes it harder to get credit just bullsh*t as to me it does.

lee2k5

Apples2 wrote: »

Figure out how 10k plus interest is going to be repaid without a hitch probably.

Go figure how this has reduced my monthly payments by £250 per month after closing the accounts, making the payment much more affordable, and you still this it's not going to be able to be paid without a hitch?

Get off your high horse. Your negative approach to people clearly shows some sort of void in your own life.


Thanks.

tell_it_how_it_is

So you had quite a bit of debt mounting up but wanted to spend several hundred on an iPad? :eek:

lee2k5

yes, it was all affordable to me. Since bought it from my salary payment this month :rotfl:

Tixy

Presumably the £10k loan is not with Tesco?

Perhaps the 2 potential lenders check different credit reference agencies?, perhaps the £10k loan lender had some additional data on you?
Even perhaps something was updated / changed on your credit file between the 2 applications.

Or maybe just the lenders have different lending criteria - especially when one was for a small luxury item and the other was a large debt that presumably they were informed was for debt consolidation?

Its not particularly unusal to be able to get credit from one place and not another.

lee2k5

Tixy wrote: »

Presumably the £10k loan is not with Tesco?

Perhaps the 2 potential lenders check different credit reference agencies?, perhaps the £10k loan lender had some additional data on you?
Even perhaps something was updated / changed on your credit file between the 2 applications.

Or maybe just the lenders have different lending criteria - especially when one was for a small luxury item and the other was a large debt that presumably they were informed was for debt consolidation?

Its not particularly unusal to be able to get credit from one place and not another.

Thanks, that was really useful. I just wish everyone was as helpful as you

Apples2

lee2k5 wrote: »

Go figure how this has reduced my monthly payments by £250 per month after closing the accounts, making the payment much more affordable, and you still this it's not going to be able to be paid without a hitch?
.

No I don't believe it will, not be some margin.

Just two years ago you already had bad credit but were grabbing Credit Cards so you had spending money to go on Holiday with (a well deserved holiday I'm sure).

Now you are overjoyed at borrowing £10k in order to reduce your outgoings by £250 pm. This suggests Debt has got a much firmer hold of you than you have of it.

Enjoy the new Ipad though, you've earned that little treat.

[Deleted User]

lee2k5 wrote: »

Thanks, that was really useful. I just wish everyone was as helpful as you

We always bring Tixy out when things start to get a bit heated.