RBS decline then an interesting phine call.

theymademedoit

Hi,
I applied for an RBS loan last week and I was declined.
I then had an agreement with M&S.

Today I had a call from someone who I think was from RBS saying that they can offer me an alternative.
Its not a loan but they freeze all my interest and I pay back what I can afford over a period. They said that I wont get credit other than a mortgage or car credit until its paid.

Whats this all about?

Is it dangerous and will I end up being screwed credit wise?

The only reason that I was declined was that I have only just been put on the electrol role and I believe that my credit is ok.

Thanks,

alan

bbhcmike

You say you got an agreement with M&S? If so, why bother thinking about this alternative? I've not heard of it but doesn't sound the best, sounds like it's harmful to our rating more than anything.

I have been refused by RBS and am now looking for somewhere else to borrow...