Cheap Loans

gb12345

quensh wrote: »

No not at all, i believe my credit rating will be excellent

We hear that every day on this forum - your credit rating is just one of many factors the lender will use to assess you

quensh wrote: »

I am basing my suspicions solely on the way i was categorically offered a lone. (The page said quite clearly "Congratulations your application has been approved"

There is a big difference between an application being approved and it being accepted at a particular rate. You have met their basic criteria, so they have approved your application (rather than rejecting you outright) now they will fully underwrite you.

fozmcfc

In my experience, normally even if you are accepted for a loan/credit card on an internet application, it's normally when the paperwork arrives you get told the APR applicable.

It stands to reason that a company might want a small window in which to check all the info provided can be verified, before giving a final 100% yes with APR.

Only Egg IIRC did something different, if accepted for 100% they used to do everything over the net.

I particularly liked the fact, that if you had a credit card or a loan with them and applied for another credit product, you didn't have to re-enter all your details again.

John1993_2

quensh wrote: »

No not at all, i believe my credit rating will be excellent and i have never had as much as a minor wobble with credit in the past. I am basing my suspicions solely on the way i was categorically offered a lone. (The page said quite clearly "Congratulations your application has been approved" It was only after i had completed more pages about my bank details that they then said "we will get back to you". At no point in the process was it suggested that the information or statements they were making are provisional.

Well if it's a small fraction of your annual salary that you are applying for, if you have a good history of borrowing money and paying it back, if you have been in a stable job for a good number of years, and if you have no other credit available or outstanding (with both bits of that condition being necessary) then you may well fall into the 51% who get it.

If you don't get it then you are just not the sort of customer to whom that's available.