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

InsideInsurance

1) Probably are talking about committing fraud

2) There is always elements that are not 100% black and white. Take "income" for example - do you include or exclude things like bonuses or profit share? If you are making pension contributions do you include or exclude them from your net or gross income? Did you remember to include savings income? I am sure some could have a change of heart on how they approach these questions should they be told they are only slightly short of the target.

3) Corrective action, so if they said they dont like the fact you already had 3 credit cards you may balance transfer and close an account down

BugsyBrowne

pheonixrising21 wrote: »

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.

Yes but that's the risks banks take now,they know theirs going to be many people telling lies on credit applications It's just upto national hunter to find them out but actually being caught is very unlikely
especially if you've kept to the same answers on your applications.

Yes it's not right but if everyone was that honest then it would be a bit of a perfect world which we know is not.

poppasmurf_bewdley

Another new poster who puts in on two different forums - no doubt hoping to get different answers.

bargainbetty

You can send in a Subject Access Request to obtain a specific result, but it costs £10 and takes more than 40 days. They will not give you commerically sensitive information, but you may be able to see the markers that led to you not getting the loan.

Then again, you have no way of knowing what the markers mean - you might show as insufficient income, but you won't get details of what 'sufficient' would be.

tell_it_how_it_is

If you came to me asking to borrow a fiver, a tenner, a ton, a grand, whatever, and I said no, I wouldn't be obliged to or need to give you my reasoning.

It's my money, and I'm entitled to use it as I please, so it's just a case of "because I don't want to". Why do you think a company should be any different with their own money?