Ulster Bank loan invite on app

Legacy_user

Hey folks.

I inherited around 12k. It's been sitting in my online saver with ulster bank. I suddenly noticed on the app under loans that it says I am highly likely to get approved a loan funny enough for 12k over 5 years.

I'm not really looking a loan at the moment but may do in the next 12 months. Is it likely that they will approve this as they are hinting at it or is that just a ploy for people to apply then just be rejected after credit checks?

I know it's all depending on a few factors but has anyone else seen this all of a sudden pop up and acted on it?

System

When I actually go to the apply section on the app it says overdraft, credit cards loans and under loan says "view offer". My credit wouldn't have been the best in the past and still probably isnt great however my account has been kept well over last 2-3 years never less than maybe 1500-2000 in it all the time mainly more.

PeacefulWaters

Is it likely that they will approve this as they are hinting at it or is that just a ploy for people to apply then just be rejected after credit checks?

It's exactly what they say it is.

Why would they encourage you to apply if they expect to decline you? What's in it for them if they so that's?

While you're not guaranteed acceptance their automated systems see you as a decent prospect.

System

Thanks. It's just I've read many people being promoted loans by their banks and seeming to meet the criteria only for them to say no and it looks on your record you've been rejected for credit. I dont need it now but just was wondering.

PeacefulWaters

frannyj543 wrote: »

Thanks. It's just I've read many people being promoted loans by their banks and seeming to meet the criteria only for them to say no and it looks on your record you've been rejected for credit. I dont need it now but just was wondering.

Credit files never show a rejection for credit.

ReadingTim

It's advertising - a loan this week, a cash ISA next week, home or car insurance the week after. They're just replicating the stuff they have on their website, in branch, adverts on the telly and in print....

I suspect someone's only just realised there's a selling opportunity on the app just like everywhere else, and they're missing a trick by not exploiting it. Perhaps next there'll be the opportunity to pay for a 'premium' (ie ad free) version of the app....