Denied credit - can't find out why or how to put it right

brionyelizabeth

Hi,
I applied for PCP on a car last week. I had no concerns as my credit is great and I've always paid my current car on time. My application was denied, so I did a thorough credit check - the finance company looked at Experian and Equifax, my Experian credit score is 968/1000 (Excellent) and my Equifax score is 452/600+ (Good). My only 'black mark' is that I'm not a homeowner. That's it. I've also never had a credit card and I recently changed my name by deed poll - but everything has been changed over (inc. electoral roll) and my credit report pulls everything in my new name.
I called the finance company that rejected me and they wouldn't tell me why - just that it goes purely off my credit report. 
I have no idea what went wrong and I'm starting to think that it could be a mistake at their end - on the search that was made on my report, my first name was misspelt. I'm saddened that there's now a rejected application sat in my credit report. I understand it's pretty common to be rejected for credit cards or loans - but I didn't think it was common for car finance. Is this just something that happens from time to time or should I be worried?
Thank you in advance

Ebe_Scrooge

First off, ignore your score - it's neither seen nor used by any lender.  What they're interested in is the data contained within your file.  A lender usually will not tell you why you've been rejected - you just don't fit their criteria (you won't be able to find out what their criteria are, that's commercially sensitive).

Check that all the data on your credit files is correct.  It may be simply that you've got a "thin" file (very little previous credit).  The name change *may* have something to do with it.  It's possible that you don't meet their affordability criteria - i.e. your income compared to how much credit you're looking for.

[Deleted User]

There's also no rejected application on your credit files so no need to be sad about that.  It will just show a search. 

Follow Ebe's advice above re checking your files, rather than any of the scores or 'black marks'.