Credit score and loans

frankraz

dear all
I really would appreciate any advise on following.
I have my credit score with clear score , totally money , experian  and moneysupermarket and Crefit karma. While all show me at fair , money super market shows me at 999 excellent. I am trying to apply for 15k loan to consolidate me debts  when I check my eligibility checker from MSE and clear score it say I have 95% chance from AA and pist office , while experiencing sausage 0%. When I check directly from AA and post office they say 0%. Can someone please explain how these work as I don't want yo get rejected and damage my credit file. I just het different results by different companies for the same things.
Thanks in Advance 

[Deleted User]

It works thus.

The credit scores are made up and can be ignored. They have nothing to do with lending.

The aggregator eligibility checkers are a tough estimate of your chances with a number of lenders.

A lender's own eligibility checker will be the most accurate, though nothing is guaranteed until a hard search is done.

Rejections aren't show on your credit files - only searches and accounts.

However, above all this is that you're unlikely to get a loan as you're consolidating. Assuming the 15k is to consolidate an existing 15k, you're going to need an income and risk profile capable of supporting 30k debt. Which is highly unlikely, given your need to consolidate in the first place.

Better to get to the DFW boards for advice on tacking your debt in a more rounded fashion.

frankraz

Thanks for this. The 15k is not all for consolidating is to have 7k of my credit cards and the rest fot home improvement. My salary is 56k and my wife is 39k. It just that two sites says 95% and the own as site is 0%. Just mot sure how tbis works

[Deleted User]

It works as above.

Few lenders will be using household income, so you will need to choose which of you applies, taking into account credit history, income and debt.

DCFC79

frankraz said:

Thanks for this. The 15k is not all for consolidating is to have 7k of my credit cards and the rest fot home improvement. My salary is 56k and my wife is 39k. It just that two sites says 95% and the own as site is 0%. Just mot sure how tbis works

What debts are we talking about ?
Something isn't right as you surely you should be able to clear the debts based on your salary.

I suspect the £7k of debts plus the loan you were applying for is your downfall.

I think what you need to do is look at your spending and cut back.
You have any savings ?

Doneby55

I don't think £22k total (i.e. the £7k + £15k loan) would be seen as excessive on a £56k income with a clean history.  I have a not dissimilar level of income,s several high limit credit cards (although cleared in full each month), a small loan and car finance. I get inundated with offers from my bank.

So perhaps affordability (big mortgage? Several dependants?) could be an issue, or tightening of criteria from those lenders in response to covid. E.g. are you self employed? It was reported Sainsbury's was going to stop lending to self employed people. 

As for the eligibility checkers - obviously the credit services will do their best to mimic lenders criteria, but they won't always get it right, or be up to date. My guess would be lenders have changed criteria and this isn't reflected on credit karma yet. 

Grumpy_chap

If the OP has over £90k household income, why can't they clear the £7k credit card ( in 2 or 3 months if they try hard enough)?  Then save £8k and get the home improvement work about Easter time.

Living beyond one's means is the same whether prince or pauper.