Useful advice for anyone using their own bank

cooltt

Just a quick note to say I've just been quoted 10.9% for a 10k personal loan with my own bank under the following circumstances.

* Had a loan last year, paid it off early from my bank, had 3.3apr headline rate.

* Brilliant credit history never missed payment everything is stable and been on electrol role for years

* Nothing and I mean NOTHING has changed with regards to my personal circumstances since I took out the previous loan.

* No debts, no overdraft,

* even spoke to their lending team who could not give me a straight answer for the high apr.

* told them to cancel application and I would go elsewhere.

*immediately applied to Tesco bank same amount same repayment terms everything but Tesco offering 3% apr.

*Instant decision loan agreed!!

It is obvious why I was declined, they make next to no interest from me, quite frankly disgusted with a bank I've been with for 20years.

My point, don't always assume your bank will be the best rate.

[Deleted User]

cooltt wrote: »

Just a quick note to say I've just been quoted 10.9% for a 10k personal loan with my own bank under the following circumstances.

* Had a loan last year, paid it off early from my bank, had 3.3apr headline rate.

* Brilliant credit history never missed payment everything is stable and been on electrol role for years

* Nothing and I mean NOTHING has changed with regards to my personal circumstances since I took out the previous loan.

* No debts, no overdraft,

* even spoke to their lending team who could not give me a straight answer for the high apr.

* told them to cancel application and I would go elsewhere.

*immediately applied to Tesco bank same amount same repayment terms everything but Tesco offering 3% apr.

*Instant decision loan agreed!!

It is obvious why I was declined, they make next to no interest from me, quite frankly disgusted with a bank I've been with for 20years.

My point, don't always assume your bank will be the best rate.

You could have just typed the final sentence and saved all the waffle. And there could be 101 reasons why you were quoted a higher APR. They didn't decline you btw, you declined them.

davidwood681

cooltt wrote: »

Just a quick note to say I've just been quoted 10.9% for a 10k personal loan with my own bank under the following circumstances.

* Had a loan last year, paid it off early from my bank, had 3.3apr headline rate.

* Brilliant credit history never missed payment everything is stable and been on electrol role for years

* Nothing and I mean NOTHING has changed with regards to my personal circumstances since I took out the previous loan.

* No debts, no overdraft,

* even spoke to their lending team who could not give me a straight answer for the high apr.

* told them to cancel application and I would go elsewhere.

*immediately applied to Tesco bank same amount same repayment terms everything but Tesco offering 3% apr.

*Instant decision loan agreed!!

It is obvious why I was declined, they make next to no interest from me, quite frankly disgusted with a bank I've been with for 20years.

My point, don't always assume your bank will be the best rate.

:rotfl:

So you expect them not to make money from you? Get over yourself.

What do you do for a living?

I presume you do it for free.