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Declined - Advice please

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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Regular overdraft usage won't help. As suggests that a borrower is already living beyond their means. With no capacity to cope with unexpected financial events.

    So start by getting out of overdraft and into credit. Perhaps even learning to put a few £'s a month aside into savings.
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Maybe doing a budget would be wise.
  • debtcutter
    debtcutter Posts: 228 Forumite
    Agree with above, if you're regularly using O/D then may be wise.

    If she's looking for a car, has she tried an application for a low purchase rate credit card?

    A good friend of mine had similarly limited previous credit (just an overdraft and HP TV from 4-5 years ago) and he got a 0% purchase offer card with Tesco.

    No guarantees of being accepted though and the more you apply and don't take credit/get declined, the less likely you will be to get accepted in your next application, unless you're prepared to wait.
    From £8,800 to £2,200 in 2 years.

    Nearly there, just the 0% credit card to go!
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