Best place to apply for an unsecured loan?

ruintooeasy

i got a quote from nationwide - 24.4%! which i gather means i am unlikely to be accepted (plus i would not want such a loan). that's pretty high

ruintooeasy

just checked my credit report - there is a default on there that i thought had come off. it shows as 'satisfied' but i am assuming this is still going to cause problems.

can someone please advise?

DCFC79

Have you tried your own bank ?

ruintooeasy

DCFC79 wrote: »

Have you tried your own bank ?

not as such. i went on the online banking and clicked the link to see what offers they had for me / what i might be eligible for but it said they had no offers for me. do you think it is worth me going to the branch and speaking to someone?

jamesd

Yes, a settled default will mark you as higher risk and decrease our chance of being accepted while increasing your likely interest rate.

How about trying a 0% for purchases credit card? Put normal spending on the card until you've accumulated enough to get the car and continue doing it to clear the existing card. Or the other way around to save more money if the car purchase is less urgent.

ruintooeasy

jamesd wrote: »

Yes, a settled default will mark you as higher risk and decrease our chance of being accepted while increasing your likely interest rate.

How about trying a 0% for purchases credit card? Put normal spending on the card until you've accumulated enough to get the car and continue doing it to clear the existing card. Or the other way around to save more money if the car purchase is less urgent.

am i likely to be accepted for a new credit card considering i have one already nearly at it's limit and i have this default?

KingElvis

ruintooeasy wrote: »

am i likely to be accepted for a new credit card considering i have one already nearly at it's limit and i have this default?

Not one of the best, prime ones for sure.

Maybe something like Aqua or Vanquis.

jamesd

Depends on the default amount and how long ago. It's a negative but not a guarantee of rejection. If it's more than around three years old a fair number of lenders might just ignore it completely. A card near the limit is also a negative but if the payments are made on time and ideally if there's more than just the minimum being paid, that can be OK. Even a Pound a month extra will clear the "made only minimum payment" flag that some credit cards report to credit reference agencies and which can be taken as a sign of having difficulty repaying.

Try Virgin's card and see how you get on, they do allow transfers to a current account and tend to have fairly high limits if accepted.

geoffky

ruintooeasy wrote: »

am i likely to be accepted for a new credit card considering i have one already nearly at it's limit and i have this default?

You need to spend less per month rather than the false hope that a new loan would bring....You are digging a hole..

arcon5

geoffky wrote: »

You need to spend less per month rather than the false hope that a new loan would bring....You are digging a hole..

Based on the little information provided I hardly think you can conclude ops digging a deeper hole for himself. You don't know the circumstances surrounding the default, his income, history amongst much more!!