Best time of year to apply for credit?

LondonLondon

It may seem like a stupid question - it may BE as stupid question - but I was wondering if anyone has ever heard of there being good or bad times of the year to apply for credit?

I suppose I'm wondering if lending / approvals are ever adjusted due to fiscal end of year targets, over or under take up from advertising or seasonal demand etc?


Thinking of applying for a loan but just wondering if I should wait until after the new tax year??

Any insider knowledge greatly appreciated!

PeacefulWaters

When I worked for Halifax they reduced acceptance rates from the end of November until the end of December.

Quality of business was particularly poor at that time of year.

No idea if that's still the case.

LondonLondon

Thanks, PW. That's exactly the sort of thing I was thinking of. I think the BBC reported a tripling[?] of credit applications pre/post Christmas 2014 which was what got me thinking.