Hitachi cheapest loans - but you wont get that rate

[Deleted User]

wllmherk wrote: »

Surely lending criteria is based on risk

As with every statement that begins 'surely', not really.

It's based in a combination of risk and profitability. You're not meeting their criteria.

It may be your apparent lack of current credit usage, or that you're not the target market

Woolco

Mouthy person at 17. Your reply was later on and Hitachi were offering loans under £7500 at very low rates.

Also is football colours allowed?

I'd ban that for a start.

fiisch

Classic case of people:

a). Not understanding the terms of the offer;
b). Thinking they're credit U/Ws.

As with insurance underwriting, the exact algorithms to decide on the rate offered is not public knowledge. You might assume you look a good risk for credit or car insurance, but there may be something that the algorithm prejudices against, or an element in your profile that makes the underwriter deem you not their target market.

I'm always baffled when people feel an affront when offered insurance/loan prices. It certainly doesn't warrant a warning...

jonesMUFCforever

Woolco wrote: »

Mouthy person at 17. Your reply was later on and Hitachi were offering loans under £7500 at very low rates.

Also is football colours allowed?

I'd ban that for a start.

If you are referring to me please allow me to reply.

1 The Hitachi page I referred to is current ie what they are offering now because Pete (the OP) is seeking a loan now and had applied for £5000.
2 Loans offered at very low rates for say optical needs are risk assessed very differently to a personal loan application.
3 Football colours are allowed as it is a free country - you can put any gif,jpeg, etc of your choice as it long as it is legal.
4 You can start a petition if you feel that strong about it - let me know where I can vote on it.

Have a good evening and weekend. :beer:

wllmherk

I applied for 20k

wllmherk

Fiisch
I'm an excellent risk for credit, I'm not 'assuming' anything. how can I be anything other than a 'safe bet' with my circumstances being as I described?
I'm not normally one for forums, but I had hoped for some understanding as to my annoyance, or perhaps an explanation as to why I wouldn't be offered the best loan rates. I stand by my view, if I'm not getting the advertised rate then no one is.
wllm

jonesMUFCforever

wllmherk wrote: »

Fiisch
I'm an excellent risk for credit, I'm not 'assuming' anything. how can I be anything other than a 'safe bet' with my circumstances being as I described?
I'm not normally one for forums, but I had hoped for some understanding as to my annoyance, or perhaps an explanation as to why I wouldn't be offered the best loan rates. I stand by my view, if I'm not getting the advertised rate then no one is.
wllm

Not excellent enough apparently to get their best rate - why not try one more application with say Sainsburys to see what you would get?

I don't know why you were offered a higher rate and the person at the end of the phone at Hitachi finance will not know.