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Good Credit, Perfect Bank Account- Refused Credit Card
lilymissfun
Posts: 4 Newbie
in Credit cards
Hi All
I really need help as I have had conflicting advice so far.
I defaulted on a loan in 2005. I then agreed a payment plan (paying less that previously agreed) with the bank which I have been paying religiously for the past 6 years.
I am now looking to buy so got a credit report and the defaulted loan didnt even appear on it. So I spoke to a mortgage advisor who said it would be fine to still have the loan outstanding while applying for mortgages as they will only look at the monthly outgoing and not the amount or fact that its a previously defaulted loan.
Today I went to my main bank (Natwest) to get a credit card and despite having the perfect account and a good report from Experian they refused my application saying its because of the loan as it is still being dealt with by the Central Debt Collection Services.
They say I am unlikely to get a credit card or mortgage until this debt is clear. can someone clarify this for me?
I really need help as I have had conflicting advice so far.
I defaulted on a loan in 2005. I then agreed a payment plan (paying less that previously agreed) with the bank which I have been paying religiously for the past 6 years.
I am now looking to buy so got a credit report and the defaulted loan didnt even appear on it. So I spoke to a mortgage advisor who said it would be fine to still have the loan outstanding while applying for mortgages as they will only look at the monthly outgoing and not the amount or fact that its a previously defaulted loan.
Today I went to my main bank (Natwest) to get a credit card and despite having the perfect account and a good report from Experian they refused my application saying its because of the loan as it is still being dealt with by the Central Debt Collection Services.
They say I am unlikely to get a credit card or mortgage until this debt is clear. can someone clarify this for me?
0
Comments
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A default should of been taken off your report 2011 so how do natwest know about this debt.0
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perhaps it is for the best?0
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The loan wasn't with Natwest was it?0
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my guess is yes as its central debt recoveryDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Some banks will blacklist you permanently. That's their decision to make.
If you default on a loan or credit card with Santander for example, its extremely unlikely they'll offer you any more than a basic current account with no lending facilities ever.0 -
Hmm okay advice for OP, don't !!!! on someone (ie take out a loan with Natwest and default on it) and then go back to rub it in (ie apply for a mortgage with the same bank)0
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