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Zopa Loans - You're great - you're good - but you 'ain't gettin' nuthin'......

cymruchris
cymruchris Posts: 5,551 Forumite
Eighth Anniversary 1,000 Posts Name Dropper Photogenic
edited 27 February 2021 pm28 8:21PM in Loans
I've been working towards a more positive credit history over the last year or so - and am lucky that at the present time I don't have the need for a loan. That doesn't stop me keeping an eye on what I am/am not eligible for - and recently Zopa appeared to launch their own eligibility checker that analysed your credit history and gave you one of their magic 'scores' - so of course I thought I'd go have a look what it was all about.

When I look at their overview panel - it tells me that my credit score is GREAT!! (Yay!)


So - off to a good start! Now what's next - Available credit - that comes up as GOOD (No complaints there)


Sounds like I'm still on the right track - so what's next? Credit usage - that's GREAT! (Yay again!)



How about those infamous 'Hard searches'? Oh they're GREAT too!


Onto the last section now - disposable income - that's GOOD! 


Sooooooooooooo.... with all that amazing positivity - am I eligible for a loan?



Computer says NO!

So it's amazing that they think I'm Great & Good all round - yet also think I can't be trusted with the change from a fish supper on a Saturday night.  I thought I'd share this as we're all always on about scores and eligibility - and sometimes even when we are AMAZING - computer still says NO! 

I'm never likely to be a Zopa customer anyway - but it's a good example of doing all things we get 'told' to do to improve our history - and the algorithms still don't like you!

:):) 

Comments

  • Carrot007
    Carrot007 Posts: 4,534 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    You expect them to tell you their entire criteria so you can game the system.

    They are fine, had loans of them in the past. Use my bank currently.

    You know it's all a big steaming pile. Myabe their algorithm does not like your name or where you live, who knows! Maybe too many people with your middle name have defaulted with them ;-)


  • Carrot007 said:
    Maybe too many people with your middle name have defaulted with them ;-)


    That made me smile :):) 
  • Zopa is a P2P lender, if they are not getting enough deposits they can not lend, if they are getting lower levels of deposits they will only lend to prime borrowers. 
  • alfred64
    alfred64 Posts: 4,996 Forumite
    Part of the Furniture 1,000 Posts
    Well at least you didn't get this:

    Your account is suspended

    What to do next

    Please contact the Customer Services Team at your earliest convenience:

    020 7580 6060 for loans.

    020 7291 8331 for investments.

    Our office hours are Monday to Thursday (8am to 8pm),
    and Friday (8am to 5pm).

    When you call in, we'll ask you a number of questions just to make sure it really is you and not someone impersonating you. This will include some questions about your lending or borrowing activity.

    Unfortunately, if you can't answer them, we won't be able to free up your account. So it's very important you have information about your most recent account activities to hand (such as dates and amounts of loan repayments, recent fundings in and withdrawals made). If you're not sure about these, you can check them with your bank first.

    Please don't send us an email about your suspension, as we won't be able to verify who you are.


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