applied for loan 6 months ago, turned down.

NorthFin

I have a perfectly clean credit report, working part time, no outstanding debts or anything.

I do have three credit cards with a couple of grand available on each, but always pay back in full on time.


6 months ago I applied for a loan of a couple of grand and got turned down. Still dont know why.


Someone said wait six months before you apply again, so what shall I do to improve my chances please?


Shall I start with a loan of only a grand and pay it off, to increase my next loan?

Gaz83

NorthFin wrote: »

I have a perfectly clean credit report, working part time, no outstanding debts or anything.

I do have three credit cards with a couple of grand available on each, but always pay back in full on time.


6 months ago I applied for a loan of a couple of grand and got turned down. Still dont know why.

Exposure to debt would be the most likely reason I would think. If you wanted to you could rattle up £6k of unsecured debt within twenty minutes on your credit card.

You might have better luck applying for a loan if you closed down one or two of your credit cards. What's your salary?

However, I would question your wisdom of a long-term goal of wanting to borrow more money. Why?

CLAPTON

NorthFin wrote: »

I have a perfectly clean credit report, working part time, no outstanding debts or anything.

I do have three credit cards with a couple of grand available on each, but always pay back in full on time.


6 months ago I applied for a loan of a couple of grand and got turned down. Still dont know why.


Someone said wait six months before you apply again, so what shall I do to improve my chances please?


Shall I start with a loan of only a grand and pay it off, to increase my next loan?

what is your income?
are you on the electoral roll?
what do all three of your credit reports say



madness to actually want to get into debt (except for a mortgage)
why ever do you want a loan?

best to keep all the CCs especially if they have any benefits

DCFC79

A perfect credit history doesn't mean your guaranteed to get the loan, the lender will score you based on your history and decide if to lend to you.

Candyapple

Affordability is likely the issue (barring any obvious issues on your files). You stated that you work part-time, assuming you worked 15 hrs a week at NMW your salary would be say £5-6k and if you have available credit of £6k (you said you had 3 cards with a couple of grand on each) and you want to take out let's say a £3k loan, your salary would need to be circa £18k as a rough guideline.

The_Debt_Doctor

You work part time and have a potential 6k to borrow on CCs.

You do NOT need a 2k loan.