ClearScore and AA Loans?

BatchedMetting

So ClearScore (credit report service) have given me an 80% chance of getting a loan from AA for the amount I want. That's the best match I was given. Tesco was next with 70%.

Should I take that seriously? Is it worth applying?

I just got turned down for a similar loan from Natwest (my bank).

I don't have any missed payments or anything like that, but am close to my existing credit limit.

So are AA lenient loaners and are ClearScore predictions legit?

Thanks.

PeacefulWaters

It's probably as good a steer as you're going to get.

80% isn't a guarantee though.

BatchedMetting

Thanks, will give it a punt!

sc1993

Hiya,

Did you get accepted? I have the same % chance on my credit report and wondered if it is correct.

Thanks,

BatchedMetting

I didn't apply in the end.

Went with a couple of 0% credit cards from MNBA and Tesco.

If you do apply, please let us know how you get on.

Chappers27

From what I understand about the ClearScore service, it is just a limited front end credit score - and the providers they guide you to will give them a commission for sending business their way. Its a profit making exercise and based on very little. e.g. I applied via Sainsburys direct for a loan and got turned down. I went to the ClearScore suggested loan providers and Sainsbury's was top of the list. So in my view it isn't particularly helpful.

Chappers (works for budgetwidget.co.uk)