Credit Score for Bank Loan

bamgbost

Hi Guys

Does anyone have an idea on what credit score you would require as a minimum to get approved for loan with your primary bank?

I need a loan, and I want to avoid any further PD loans, or High Interest options.

PeacefulWaters

bamgbost wrote: »

Hi Guys

Does anyone have an idea on what credit score you would require as a minimum to get approved for loan with your primary bank?

I need a loan, and I want to avoid any further PD loans, or High Interest options.

Every bank is different.

Your Experian / Equifax / Noddle random number means naff all to them.

Gaz83

bamgbost wrote: »

Hi Guys

Does anyone have an idea on what credit score you would require as a minimum to get approved for loan with your primary bank?

I need a loan, and I want to avoid any further PD loans, or High Interest options.

No lender will see a credit score. They are made-up numbers designed to encourage people to keep paying for an Experian / Equifax etc. membership.

CLAPTON

bamgbost wrote: »

Hi Guys

Does anyone have an idea on what credit score you would require as a minimum to get approved for loan with your primary bank?

I need a loan, and I want to avoid any further PD loans, or High Interest options.

what matters is what is on your credit files and your income etc


what do the show?
electoral roll?
payment history
debts etc

jonesMUFCforever

Can I be brutally honest here - if you have had Payday loans (even if you paid them in full with no bother) your credit worthiness to your primary bank would have taken a massive hit.
They might not lend to you at all or offer a high rate.

20aday

jonesMUFCforever wrote: »

Can I be brutally honest here - if you have had Payday loans (even if you paid them in full with no bother) your credit worthiness to your primary bank would have taken a massive hit.
They might not lend to you at all or offer a high rate.

It's funny you should mention that.

When I applied for a loan with NatWest I had a face to face appointment.

When the advisor was looking through my statements she saw "Quidco" (the cash back company) and asked if they were a PDL; and if it was then it was probable I would be declined because in their eyes I was struggling financially.

chambta

20aday wrote: »

It's funny you should mention that.

When I applied for a loan with NatWest I had a face to face appointment.

When the advisor was looking through my statements she saw "Quidco" (the cash back company) and asked if they were a PDL; and if it was then it was probable I would be declined because in their eyes I was struggling financially.

She was right, depending when this was. Previously the bank's system would automatically decline a loan application if it 'spotted' lending of that nature.

Now it doesn't.

YorkshireBoy

adindas wrote: »

fro quite

This is quite new to me. Quidco is a cashback company and therefore nothing to do with credit, debt, loan, etc. Moreover there is no way that people be in negative balance with their Quidco account. The saving is more relevant and come from the same organizations never shown in the credit file.

- I have been having Quidco, TCB for sometimes now but mine are not shown on my credit file. Do anyone else have their Quidco account shown on credit file ?
- I wonder why Quidco is shown on the credit file and saving are not ?

You've misread the quote. Quidco was shown on a bank statement, not a credit report, as a payment received from them. Presumably the person reviewing the bank statement thought it sounded like QuickQuid, who are a PDL?

alexmidler

Every Bank has different criteria to provide bank loan. And basically, bank offers loan those guys who have enough money in their bank account and have a healthy transactions with their bank.

So i would like to suggest you, maintain your bank account as per your bank rules & regulations and make good relation with bank. Thus your name will appear in the list of best account score holders.

I think, if you will apply for a bank loan after some time, then your bank will offer you loan/credit card/ other benefits as per your recruitment.

have a good time..
alex

20aday

YorkshireBoy wrote: »

You've misread the quote. Quidco was shown on a bank statement, not a credit report, as a payment received from them. Presumably the person reviewing the bank statement thought it sounded like QuickQuid, who are a PDL?

She did indeed.

It was shown on my bank statement as a (BACS) payment from them.