please help

leesmith126

i have a good credit rating according to experian (893) but cant get a loan anywhere .... i dont understand how it works can any one advise me?

gb12345

leesmith126 wrote: »

i have a good credit rating according to experian (893) but cant get a loan anywhere .... i dont understand how it works can any one advise me?

Your "good credit rating" is a meaningless made up number that only you get to see.

Lenders will take into account a lot more information, such as what credit you currently have and how that relates to your income.

Tixy

Your credit score is not a number anyone ever sees except you. No potential lender will see that score and that score does not take into account many things that a potential lender would consider.
A lender assesses not only the information on your credit report but also anything else they know about you and what you enter on your credit application

Who have you applied to and been declined by?

leesmith126

Thanks for the response .... I was tesco for a loan of 3500 I earn around 27 thousand a year after tax .... Don't really have any other running credit apart from a few mobile phone contracts

Tixy

Have you only applied to Tesco recently?

Have you always made all payments on time on your past credit agreements? Is all the detail on your credit report accurate (electoral roll, financial associates etc)?

You could try your own bank as they may be more willing to lend, as they can presumably see your salary being paid in to your bank account each month.

Cycrow

that fact you dont have any other credit might be where the problem is.

as you have nothing to show how well you will manage credit

leesmith126

All seems ok on my credit file there is a red area from HSBC bank but I'm currently talking to them as we have no idea why it's red and what it was for ..... I will try my own bank next weekend I have only applied for this loan 2 weeks ago I took a phone contract out apart from that I can't see anything that is affecting me