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Loan application help!

Hey everyone,

I had applied for 2 loans, one at barclays and one at tesco.
I got an agreement today for barclays and it is most likely approved as all they have asked is to sign and return the yellow paper WITHOUT asking for any more details such as payslips.
But tesco rejected my loan application? why is this when barclays accepted me, and also i checked my credit report on clearscore and it shows the barclays credit search, but does not show the tesco credit search?


why would this be ?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 2 September 2017 at 3:31PM
    Tesco have different acceptance criteria.

    Check if their search appears on the other CRAs. If not, you will have failed on policy rules.

    I also see from your other thread that you applied at Natwest. I would expect the multiple applications to be causing declines now and in the immediate future.
  • Thank you for your reply...

    Oh so even if you have been accepted (Sent loan agreement after credit check) can i still be declined due to multiple applications?
  • Potentially, though it's relatively rare.

    But I would put a stop to the application for a a while. At the moment, you're looking desperate for cash, and it's not an attractive look for lenders.
  • Thank you for your reply once again...

    On my Tesco loan rejection letter, it states that my application details did not meet opening criteria, what does that mean?
  • It means you didn't meet their acceptance criteria. Which one(s) remains confidential.
This discussion has been closed.
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