Tesco Loan

osmorgan

Hi, i recently applied for a loan from Tesco Bank, my request was accepted in principal and i was mailed an offer letter, with request for documentation. But.. the offer was for higher APR than i had applied for, taking up the total pay back an extra £1000 and the monthly payments up an extra £30 or so..

I'm not too happy with this offer, is this a normal thing to happen? Also, if i reject this offer from Tesco, will this reflect negitavly on my credit report?

Apples2

It's entirely normal, you are just one of 49% of succesful applicants who received a higher APR than advertised.

One search won't affect much, the general concnensus is three searches in a short space of time screams desperation.

TheAble

Apples2 wrote: »

It's entirely normal, you are just one of 49% of succesful applicants who received a higher APR than advertised.

One search won't affect much, the general concnensus is three searches in a short space of time screams desperation.

How short a space of time would you say? I got rejected yesterday and wonder how long to wait before applying elsewhere.