HSBC personal loans

map200uk

Hi,

I'm looking at applying for a personal loan tomorrow with HSBC

been with HSBC for probably 18+years

have my wages paid in there, have a credit card with them and have had a loan prevopusly which I paid off in full

The question is: I have 4 credit cards, but dont use all of them, does it work out better to say you have 4 or if you just put down the 2 that you use? Ive read it can work out better as it proves you can get credit

also - i may have had some late payments , not often just a few like my broadband (its a pain to pay have to do it online and forget) / the gym when I didn't realise my account was overdrawn once in years and a couple of times paid the credit cards ate BUT ALWAYS paid

No defaults, no CCJs nothing like that

surely the fact I have had an HSBC account for years and have my wages paid in there every month AND HAD a previous loan which I paid off in full..surely this would count towards me?

Lastly do they use credit ratings/credit repots or would they just go off their profile of me..as they know what money I get and they know ive had a loan with them

many thanks

da_rule

What works best is to show a history of managing credit, which from your post is hard to say.

If you don't list all of the cards, they will show up when the lender does a credit check, which may flag up alarm bells (i.e. why didn't you declare them). I've always been told that I should cancel any credit cards I don't use as their limits eat away at your overall limits. I was told by a credit card company that they wouldn't increase my credit limit as I had a (unused) credit card which had a limit of £5000. They were worried that if they upped my limit then I could go the next day and blow through the new limit and the unused £5000 and get myself into trouble (although what they were worried about was them not getting their money back).

JKSandy

Late payments may have an impact if they are recent.

If you have four active credit cards you need to say you have four, regardless if all four are used. When they check your credit file they will see how many you have and how many are getting used.

They will refer to your credit report, I have had two loans with them, one showed a as an enquiry and the other showed as a credit check. Guess it just depends on what mood the system is in.