Rejected for loan, just checked noddle

Tman

Noddle gives me a credit rating of 1/5 but no indication why.

My existing obligations are listed as good.

Small loan with my bank (1500) - half way through. Never missed.
T-mobile monthly payment. Never missed.
Bank account - everything in credit. All green dots apart from 1 month of july 2011 (overdraft).

I'm also in full employment - 25k+ salary, have no CIFAS warnings, electoral role up to date and a long term address.

The only 'negative' area seems to be the 'closed accounts' section. A few late payments in 2008, and a couple in early 2010. But both are listed 'up to date' and settled.

The rejected loan (tesco) was for £7k. I've just applied with sainsburys, but I'm thinking this is just doing more harm than good until I establish what's wrong.

Any ideas? Thanks

Angelinaxoxo

Hi Tman.

Let's wait and see if Sainsbury's gets approved or not then we can take it from there, they very well may approve you or they may not.

The thing is I was able to get a Tesco loan last year with a few missed payments on closed accounts also so I didn't encounter a problem in regards to that.

If you get rejected by Sainsbury's seen as you have no glimmering blemishes on your record (default CCJ) maybe you should take out a credit card (or two) just to build your credit history, variety of credit type to start building up your file a bit main, this is the money thing I could possibly think of for someone who has seemingly perfect credit but a limit history or a small number of active accounts. Don't close them either try and just keep them open for a few years.

If all fails and you still desperately need the loan, it's worth a shot to try you local credit union too. I am a member of one and they've been absolutely great in regards to providing loans.

Let us know how Sainsbury's goes so we can take it from there.

I'm sure other members can also chime in their opinions also.

You-kip

Tman wrote: »

Noddle gives me a credit rating of 1/5 but no indication why.

My existing obligations are listed as good.

Small loan with my bank (1500) - half way through. Never missed.
T-mobile monthly payment. Never missed.
Bank account - everything in credit. All green dots apart from 1 month of july 2011 (overdraft).

I'm also in full employment - 25k+ salary, have no CIFAS warnings, electoral role up to date and a long term address.

The only 'negative' area seems to be the 'closed accounts' section. A few late payments in 2008, and a couple in early 2010. But both are listed 'up to date' and settled.

The rejected loan (tesco) was for £7k. I've just applied with sainsburys, but I'm thinking this is just doing more harm than good until I establish what's wrong.

Any ideas? Thanks

So you've applied for a 7k loan through Tesco while being half way through a loan with your bank, what was wrong just topping up your bank loan?


Ps expect a decline from sainsbury too.

unphased

Maybe the terms of the Tesco loan were better than the terms of the current loan and it made more sense to apply for the better deal. What is wrong with not topping up the existing loan?

[Deleted User]

Were you taking out a new loan to get rid of the old loan or having both of them running simultaneously?

How old are you. Early twenties? Under twenty,over 30?!?

Your missed payments weren't that long ago, so missed payment, another loan asking for more money whilst on a relatively good salary would probably trigger alarm bells.

CLAPTON

check all three of the credit agencies