Possible scam on credit refusal methinks???

[Deleted User]

BeltonRose wrote: »

I'm entitled to the information am I not?

No. Even the FOS will not back you on breaching commercial confidentiality.

You've failed a credit check. They may not see you as profitable (as you admitted).

It's not the end of the world and only goes down as as a search, not a decline.

BeltonRose

OK zx81 - thanks for your replies. I'm not the roll over and tickle my tummy type - so I'll make a judgment as to how much I'm prepared to invest in persuing this. Bye

pappa_golf

I,ve just refused you credit , I don,t like your wallpaper , now take me to the FOS and see if they MAKE me give you credit.

DCFC79

I won't lend to you BeltonRose as I don't like the car you drive.

I await the call/letter from the FOS.

No scam involved so move along please.

Superscrooge

You can't force a company to give you credit and the Financial Ombudsman is not going to make them give you credit either!

forgotmyname

My secret criteria is not to lend to anyone linked to roses, whether they are the chocolate variety or effluent covered variety.

if 999 is the best you can get why are there threads on here where people have been rejected for loans with the same score.

999 shows your solvent? HOW? My score is probably 999 yet im not even working.

My other criteria for opening an account is..

Lived at the same address for at least 125 years
Have at least 1 Butler, 2 Cooks, one of who is young and blonde and who cannot cook, 1 Chauffeur, 1 Nanny to tuck you into bed at night.

If the account balance is to exceed £10 then a Guarantor will be required who must be your grandparent or great grandparent.

Do you qualify?

m4rc

BeltonRose wrote: »

OK zx81 - thanks for your replies. I'm not the roll over and tickle my tummy type - so I'll make a judgment as to how much I'm prepared to invest in persuing this. Bye

To be fair you asked a question and have been given the correct information. I'm sure you don't like the answer but why is that the fault of the people who took the time to reply?

Is it a scam - yes it's possible it is and I think trading standards would be interested in hearing about it.

However there are a few things to consider. To be able to search someone's credit file you need to be updating credit files with the same information. It costs money to provide credit, you need a licence. It would be much easier to pretend you had been declined and not actually do anything, it's a lot more complicated to search a file and then say no pretending they found something they don't like.

What you are simply not hearing is that whether you like it or not you have absolutely no right whatsoever to see a lenders criteria for offering credit. They have a right to refuse you and do not disclose this information, all they have to do is say it was 'something about your credit history at didn't match our lending criteria' or similar. If your bank say you can't have a loan or an increase to your overdraft all they have to say is similar to above, you have no right to ask what details they didn't like, and they will never tell you. The reason is if they did then people could play the system, if people knew what criteria they had to reach then nobody would be declined for credit.

It's just the way it is, you can complain about the scam part but if you want them to provide their specific lending criteria and algorithm then that isn't going to happen.

The 'scam' could be that they like people with really bad debts so they have a high chance of defaulting and they can charge crazy fees.

Lastly, your credit history could look great, it could be what you consider perfect, but lenders don't see or care about the 'score' and use many other details from your application to score you. Are you really perfect for credit? Unlikely, unless you are a multi-millionaire with zero chance of ever defaulting, it's just showing that in theory most lenders would like to lend to you but it really doesn't mean anything. It's useful to know here are no fraudulent credit accounts open or that you don't have a missed payment you didn't know about, it's good to be able to check your details are correct but it does not help you to know if you are entitled to credit.

I hope that helps a little. Of course you have the right to fight them, I think the advice was along the lines of there are bigger things to worry about, just enjoy life and ignore them but you can fight em if you enjoy that sort of thing. Personally I have better hints to do!

Good luck

Pixie5740

You could always ask Experian, Equifax or Call Credit to lend you the money.