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No debts, good credit rating, but refused everywhere! Why?

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  • Hi Tixy,
    I have had an overdraft (£800) for over a decade but I have never used it. I have had an account with an clothes catalogue company for donkeys years which I rarely use. I don't have any outstanding open credit agreements. I don't have a mobile phone account or store card (I applied for these 2 this year for the first time and got turned down). I am a company director and have company credit card which is paid in full each month.
    Maybe I should try and apply for a personal credit card with my bank...and take it from there. Do you think if I ordered more regularly from my online catalogue it would help the situation?
  • As mentioned before the credit scoring system is so badly flawed, basically these days we have a machine telling us if we can mange our money or not and if we are responsible or not, it would be much better to have your bank manager sit down and make a personal decision on whether or not you are viable for a loan rather than a machine make a decision!!

    You're a fully paid up member of the tin hat brigade are you not?

    A computer that has the outcomes of millions of applications has a far better gauge of likely outcome than a single individual that may have only seen a couple of hundred applicants in their entire career...

    Where do you think these computers get their decision criteria from? lots and lots of empirical data - not just the experience of one person.

    Surely if you did a paper on this you would have a basic grasp of things like this. The computers are not just random decision generators!
    Thinking critically since 1996....
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