Loan rejection advice please!

[Deleted User]

You need to build history before you jump straight into loans.

Try aqua, Vanquis or Cap One.

kims_here

Ok thank you for your help will look into those cards now thanks for replying

Money_Rollercoaster

Are you both on the electoral roll? If you aren't, you definitely need to be if you want access to credit.

dieselv2

Wouldn't opening a free current account start credit ball rolling?

PeacefulWaters

1) Pay all your bills on time.
2) Get in the voters roll.
3) Get a Vanquis or similar credit card. Use it to buy something. Get a statement. Repay balance in full. Repeat every month.
4) Stay with the same employer for an extended period.
5) Stay at the same address for an extended period.
6) Get a mobile phone contract.

Additionally, ask yourself if you really need to borrow. Saving up and paying for something will save you a shed load of interest.

If not, who do you bank with? Will your current account not provider lend to you?

Candyapple

I hope you don't need the loan anytime soon because no credit history is just the same as having a poor credit history.

You'll need to wait at least a year minimum before trying to apply for loans. Even then there's no guarantee of getting one with a good APR, but he should be in a better position in a year's time after a full year of green zeroes from the credit card, bank account and possibly mobile phone contract all being reported back to the CRAs.

Herzlos

Have you asked your bank? They'll have more access to your financial history than anyone else, and whilst it's maybe not credit, you should get on better there.

Especially if you're borrowing such a small amount Vs income.