santander credit card cash into your bank - 30+ months loan

jools1966

I don't normally think.of taking a loan out but
I heard Martin mentio about Santander offering a long term (I think.it was
Santander!!) Loan of up to something like 30+ months on cash that you can
transfer into your account? Well i tried.for this twice... (they dont do
an actual credit check (but do some sort of check regardless) and they didnt
offer me the full term... I was stumped and asked why but the operators
didnt know the reason... they just add the criteria and the computer said No, or rather not the full repayment term avalable... believe me my credit score is top notch... having
just paid off my mortgage after 23 yrs of 25 i have no debt now... and have
never defaulted on any credit agreement but recently i was caught out on a
credit card payment being late thro my own daft fault. So can you shed
any light on why they wouldnt offer me the full term for repayments? It wasnt a huge amount either, I know
every company has its own way of assessing risk, but im simply no risk at all given my history!!
What does anyone make of it? Or could.it.simply be that because.I.have zero debt
that im now dead wood as far as financial.institutions are concerned? I
never pay interest on any cards. Apologies for all the full stops, i
hate.on screen keyboards!! Miss my blackberry bold;)

jonesMUFCforever

You have a late marker on your credit file so this might have had an impact.
If you have no other credit this might as well be a reason as having no credit in certain circumstances can be as bad as having too much.


How much did they offer you?

jools1966

Think i asked for 3.5k and got offered 24 months, cant quite remember... im not desperate for the cash i.just thought with the interest rate being so low it was worth getting as my daughter wants a car for her 18th...

I wouldnt care, it was a.new credit.card i was late paying, there were issues with the info on my online account. I complained and the bug was fixed but i was late paying in the mean time... Its a Halifax cc. Worst online system ive used so far and will be getting shot now its paid off...

Thanks.for.the reply and i think your probs right, having no debt is an.issue for lenders, im not creating any money for them am i, apart from they have free use of my salary every month of course...

I use my cc's all the time.tho, you would think that one marker wouldnt cause an issue in the great scheme of things... they only need to check my overall credit.history...

Tixy

If you are regularly using your credit cards then you will be maintaining an ongoing credit history so that shouldn't be a negative.
Not having debts is a good thing not a negative so that also won't be the reason for the decline.

I would think it is most likely the recent missed payment on a credit file which will mean that lenders would not see your credit history as 'top notch' currently. In the short term this is almost certainly enough for you not to be offered the very best deals on the market. In time the effect of this will lessen.

jools1966

Thanks for your comments guys... this is the first time ive joined a forum, its great!