can creation deny telling me why i was rejected credit???? HELP

Pintsizedmel

I was rejected credit after previously having credit with creation for a higher loan amount in january of this year. It ended June and i paid it off quickly and on time. My credit rating has improved significantly since taking out this credit also.

So i wrote to creation to why out why i was rejected, and all i have been told is On this occasion, the main reason for decline was due to internal lending rules that we apply.

I have researched my rights to this and apparently this is an inacceptable reason legally and very vague answers such as yours and You didn't meet our minimum standards" or "You didn't receive enough points on our credit scoring system” are illegal. Acceptable reasons include: "Your income was low" or "You haven't been employed long enough." Which under the fair credit reporting act I am entitled to know. Could you clarify this is correct and where do i go from here? thank you

BugsyBrowne

There is no way you would ever find out your credit rating as credit scoring is done from lender to lender.
The answers to your question is NO you can't find out why you were rejected.

It's the same with everyone who's rejected if you fail the credit scoring then the company won't tell you the reason why your rejected.

Curr946

..... otherwise you would know how to manipulate these factors on future searches.

~Brock~

I would be more interested to know where you researched your rights in order to come up with your stated conclusion.

Wywth

Barrack room, perhaps? :rotfl:

dealer_wins

I would say you were rejected for using "i" instead of "I" in your posts.

InsideInsurance

In the UK there is no requirement for them to give a detailed reason for rejecting you.

Who you decide to lend to or not is a commercial decision and lenders are entitled to keep such criteria out of the public domain

Apples2

Luvin' the term Illegal, maybe the Police should be the next stop.

molerat

Pintsizedmel wrote: »

............................ I have researched my rights to this ................ Which under the fair credit reporting act I am entitled to know. Could you clarify this is correct and where do i go from here? thank you

Move to the US if you want their laws to apply Google is a dangerous tool if used incorrectly.

Wywth

Apples2 wrote: »

Luvin' the term Illegal, maybe the Police should be the next stop.

Perhaps the OP should consider contacting Interpol based on molerat's post? :rotfl:

pheonixrising21

Curr946 wrote: »

..... otherwise you would know how to manipulate these factors on future searches.

How could you manipulate these factors? Without commiting fraud in the process of course.... Just interested in knowing.

Income too low... I'll put in a higher income on my next application.... oh no, I can't, that's fraud!
Not lived at current address long enough... I'll state I've been there longer than I have.... oh no, I can't, that's fraud again!
Too many other debts.... I know, I'll only mention 2 of the 4 I have... oh no, I can't, they're on my credit reports and that would be fraud

IMO there is no way to "manipulate" the lending criteria without committing fraud in the process. Manipulate means to change, so if you put through an accurate application and got rejected, if you change something on a subsequent application then you are lying and therefore committing fraud.