Nationwide loan decline SAR

Apollo14LMP

Hello,
I hope this message finds you well. I bank with Nationwide applied for a loan and was declined.
I rang them they said I had adverse credit.
I have checked all the CRAs my score is low due to an o2 account default for 61 pounds from years ago. This was removed and in the last 6 years there is nothing adverse on my file. As such I did an SAR for the loan refusal and got lots of stuff thru email.
I got the following from their loan refusal documentation.

It says ...
SID
Refferal code RF01 DOB Inconsistencies 
THEN
RUU
Refferal code DL 13 HIGH RISK
Then goes...
Select primary decline decision...
Selected
CREDIT SCORE
Can anyone decipher this for me. I didn't really understand the decision I dont like the "High Risk" were did they get that from ??? Nowt on the CRA as i checked..   
I have had a 2k overdraft facility which I reduced to 500
I also have the member c card 1150 limit used 500 of it.
Not bothered about the loan but can someone please make sense of the above I would be grateful .. thank you







 

[Deleted User]

Apollo14LMP said:

Hello,
I hope this message finds you well. I bank with Nationwide applied for a loan and was declined.
I rang them they said I had adverse credit.
I have checked all the CRAs my score is low due to an o2 account default for 61 pounds from years ago. This was removed and in the last 6 years there is nothing adverse on my file. As such I did an SAR for the loan refusal and got lots of stuff thru email.
I got the following from their loan refusal documentation.

It says ...
SID
Refferal code RF01 DOB Inconsistencies 
THEN
RUU
Refferal code DL 13 HIGH RISK
Then goes...
Select primary decline decision...
Selected
CREDIT SCORE
Can anyone decipher this for me. I didn't really understand the decision I dont like the "High Risk" were did they get that from ??? Nowt on the CRA as i checked..   
I have had a 2k overdraft facility which I reduced to 500
I also have the member c card 1150 limit used 500 of it.
Not bothered about the loan but can someone please make sense of the above I would be grateful .. thank you







 

You’re never going to know exactly what caused Nationwide to decline you. Lenders don’t publish the ins and outs of their internal credit scoring procedures and policies and the person you spoke to won’t know anything more than that you were declined. 

There’s something in your profile with Nationwide that makes you high risk to them. Nationwide will have used your credit history, affordability, identity check, past dealings with them and other information and determined they don’t want to lend more money to you. 

Apollo14LMP

Thank you ... were would they get information like that ? .... is there some secret blacklist ?? 
Why give you a 2k od ... then refuse you 1.5k loan ?
Is that they profit from od more ... i need to get what high risk is .... were did it come from ... i dont understand them ... if im high risk why give me anything ?
I was offered loan then they referred it somehow .. crazy .. but im gonna bin them soon anyway

2021BJ

Apollo14LMP said:

Thank you ... were would they get information like that ? .... is there some secret blacklist ?? 
Why give you a 2k od ... then refuse you 1.5k loan ?
Is that they profit from od more ... i need to get what high risk is .... were did it come from ... i dont understand them ... if im high risk why give me anything ?
I was offered loan then they referred it somehow .. crazy .. but im gonna bin them soon anyway

Get information like what?

You're a customer with a current account and a credit card with them. They can see your spending habits, what comes in/what goes out, what you're spending money on, whether you spend all your money each month etc.  This is why I laugh a bit when people often advise "go to your bank because they know you better."  Well that, unfortunately, can go the other way too.

Given they've only trusted you with an £1150 limit credit card seems like a good indicator that they don't have high confidence in you.  If you're carrying a balance on that then that's even worse.

superbigal

DOB Inconsistencies 

Do you input the wrong Date of Birth ?

Apollo14LMP

No there is an incorrect date of birth on a TSB Account I have. Must have picked this up. I have a current account with them and the 1150 credt card so they know my DOB.
I was concerned by the marker ... DL13  .. High Risk .... crazy  ....

Billy_B_North

Apollo14LMP said:

No there is an incorrect date of birth on a TSB Account I have. Must have picked this up. I have a current account with them and the 1150 credt card so they know my DOB.
I was concerned by the marker ... DL13  .. High Risk .... crazy  ....

Crazy how?

Apollo14LMP

How do they determine high risk .. what do they see that makes you high risk. They gave me a 2.5 k overdraft. C card is 1150 which is fine for me. It is crazy that they deem you a high risk.
None of this makes any sense to me ... im not bothered about the loan ... what data do they have that makes them say so. This credit application thing is not transparent.... i think these people rely on third party data which is often wrong ! And how long and old is the data they use ... more than 6 years . .. there is nothing adverse on my file. Was a mistake for 61 default o2 which was never mine .. was removed....

2021BJ

Apollo14LMP said:

How do they determine high risk .. what do they see that makes you high risk. They gave me a 2.5 k overdraft. C card is 1150 which is fine for me. It is crazy that they deem you a high risk.
None of this makes any sense to me ... im not bothered about the loan ... what data do they have that makes them say so. This credit application thing is not transparent.... i think these people rely on third party data which is often wrong ! And how long and old is the data they use ... more than 6 years . .. there is nothing adverse on my file. Was a mistake for 61 default o2 which was never mine .. was removed....

Well gave is perhaps the operative word here.  Things change, and perhaps they're no longer so happy to lend.

You may have been happy with an £1150 credit card limit but it is very low for a mainstream lender.  As I said earlier it is perhaps indicative of them already not being entirely comfortable with your finances.

Also, you know, COVID and lenders tightening up in general.

phillw

Apollo14LMP said:

what data do they have that makes them say so. 

My guess is that it's:
No there is an incorrect date of birth on a TSB Account I have.
I would sort that out.

[Deleted User]

DOB inconsistency and carry a balance on a card = high risk in terms of giving more credit in case you have future problems which comes back on them for irresponsible lending, nothing to worry about, just company terminology. Pay off the card in full and keep paying it off in full every month and try again in a while, maybe 6-12 months and use the time to save up using the money you'd have used for the loan = no need for more borrowing