Declined -why?

fiendishly

My Experian credit rating is 999.
I tried the eligibility calculator and one of the results said 95% chance, a further two were 90%.
Declined for the first 2, have to wait to hear about the 3rd one.
Any idea why? I’m a housing association tenant, is that it? A widow.
Loan is £5000 over 5 years, salary about £26k

[Deleted User]

Your credit rating is made up, so ignore that.

What do your credit files show?

It may be something negative on your files, the reason for the loan, any existing debts which impact affordability, financial associates and so on.

Ben8282

From the limited information given it is impossible to know exactly why the loans were refused. The 999 credit score, worthless that it is, would imply that there is unlikely to be any serious adverse information contained in your credit files. Similarly the loan amount is not great and the term reasonable.
As a guess, I would speculate that the most likely reason is a high level of existing debt. Alternatively, it could be connected with employment - length of time in current job, self employment or unsecure employment - or you were asked affordability questions about income and outgoings and your answers to these questions gave an impression of unaffordability.
If the third loan is declined stop applying immediately. 3 hard searches on your credit files from 3 applications will cause you additional difficulties

fiendishly

Thanks for your replies. I don!!!8217;t have any debt at all. I use a credit card for all purchases and pay it off every month.
I!!!8217;ve been in my job for 9 years.
So I!!!8217;m stumped. My credit report shows nothing.

Pixie5740

fiendishly wrote: »

Thanks for your replies. I don!!!8217;t have any debt at all. I use a credit card for all purchases and pay it off every month.
I!!!8217;ve been in my job for 9 years.
So I!!!8217;m stumped. My credit report shows nothing.

Check all 3 of your credit reports not just Experian. You can view your Equifax report free via ClearScore and your Call Credit one free via Noddle.

Your credit history is just one part of the equation. Lenders also look at affordability and past dealings with them. For example there was a poster on the Mortgage & Endowments board who was rejected for a mortgage from Nationwide despite having a "perfect" credit file. It transpired that years ago she went bankrupt and even though this was no longer showing on her credit files (over 6 years ago) Nationwide had its own records going back further and as Nationwide had been caught up in her bankruptcy took the decision not to lend any more money to her.

The bottom line however is that nobody here can give you a definitive reason as to why you were declined because no one knows the criteria that lenders actually use.

fiendishly

I signed up to Equifax as you suggested. There!!!8217;s a default showing to a water company that I have no dealings with.

fiendishly

:mad: Why does it not recognise my apostrophes :mad:

[Deleted User]

It's an Apple issue.

It seems to recognise red angry faces though.

Dispute the entry with the CRA if it's not yours.

DCFC79

fiendishly wrote: »

:mad: Why does it not recognise my apostrophes :mad:

Its been around for a whike now, luckily its not just you, its anyone on Apple devices.

marliepanda

fiendishly wrote: »

My Experian credit rating is 999.
I tried the eligibility calculator and one of the results said 95% chance, a further two were 90%.
Declined for the first 2, have to wait to hear about the 3rd one.
Any idea why? I’m a housing association tenant, is that it? A widow.
Loan is £5000 over 5 years, salary about £26k

Did you apply for all three at once?

Pixie5740

fiendishly wrote: »

I signed up to Equifax as you suggested. There!!!8217;s a default showing to a water company that I have no dealings with.

That's probably the cause of your declines. What does your Call Credit report show?