Nationwide

Superhoopza

Hi,

I was just checking clearscore and a new option for a personal loan came up, with nationwide. The APR is by far the cheapest option and is lower than the APR on my credit cards so I'd be able to save a chunk of interest as well as reduce my usage amount, which in turn would help me get offered balance transfer deals etc to reduce the interest further. I then checked on nationwide a website who said I'd be highly unlikely to be offered a loan.

Has anyone had any experience of this and I was just wondering why the information from clearscore and nationwide would be so conflicting. The last thing I want to do is have a failed application on my account. 

Thanks

sparelogin

The Nationwide checker will be more accurate, as it uses their criteria.

As you're already carrying debt, you won't get the lowest rate, so go for something a little further down the pecking order.

Superhoopza

Thanks. That was the only option on third party eligibility checkers that had lower APR than what I'm currently paying so I'll just work on reducing the debt and look again at offers soon.

Superhoopza

I presume % likely to be approved is a load of rubbish then? 

sparelogin

No, but it's only a very rough, often misleading, guide.