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Declined for loan/car finance

2

Comments

  • parksajj
    parksajj Posts: 84 Forumite
    Ideally one credit card with a 3k limit and 0% for 12 months would be good.

    Are you on the electoral roll and what's your overdraft limit / how much into your overdraft are you?
  • ontherightrack
    ontherightrack Posts: 14 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    parksajj wrote: »
    You wouldn't get it :(

    aha no problem thanks for your time I might have to look into going to a dealer or simply saving up for one. I have nothing against saving up for a car but even then im not sure how I can build my credit if noone gives me any to start with
  • ontherightrack
    ontherightrack Posts: 14 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    parksajj wrote: »
    Ideally one credit card with a 3k limit and 0% for 12 months would be good.

    Are you on the electoral roll and what's your overdraft limit / how much into your overdraft are you?

    Im on the electoral role but havent actually voted yet i missed out when i was 16.

    I have no overdraft and my account is always in credit although it rarely has more than £100 in there as I like to save my money in cash
  • parksajj
    parksajj Posts: 84 Forumite
    Ok. The only other thing I can think of suggesting is you apply for a creation loan.

    Chances are 50/50 as they are rather semi prime. However the rate will be rather high.
  • ontherightrack
    ontherightrack Posts: 14 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    parksajj wrote: »
    Ok. The only other thing I can think of suggesting is you apply for a creation loan.

    Chances are 50/50 as they are rather semi prime. However the rate will be rather high.

    Thank you for your help I'll have a look into them although I've never heard of them before
  • parksajj
    parksajj Posts: 84 Forumite
    They're mainly into credit/store cards. Selfridges, Flybe, AllSaints etc.

    Good luck :)
  • thebritishbloke
    thebritishbloke Posts: 1,472 Forumite
    To be honest, you'd struggle with your own bank simply because you never have money in your account with them.

    You won't really get a 3k loan anywhere, and if you do it's going to be at credit card type rates anyway. Go on MBNA's website and do their eligibility check for their 0% Money transfer card (don't go through with the full application, just the soft-search check, unless it says you're probably eligible). These cards let you do money transfers to your bank account at 0% for X months, for a one-off fee.

    If it comes back as a no, you're sorta stuck with having to save up.
    Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.

    ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.
  • loskie
    loskie Posts: 1,761 Forumite
    Part of the Furniture 1,000 Posts
    why do you save your money in cash? That could be very risky.
  • thebritishbloke
    thebritishbloke Posts: 1,472 Forumite
    loskie wrote: »
    why do you save your money in cash? That could be very risky.
    Not to mention losing out on interest too!
    Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.

    ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.
  • ontherightrack
    ontherightrack Posts: 14 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    loskie wrote: »
    why do you save your money in cash? That could be very risky.

    Just force of habit as a kid I would always give it too my grandad to put aside for me
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