Low credit score. Where to go?

Mishomeister

Can someone please point me towards  loan provider that is known to give highest possible  personal loan amount?

No adverse but short time at the current address and on the voters roll means low credit score.

Not interested in guarantor and simillar arrangements.

Mishomeister

Can someone please point me towards crefit card or loan provider that is known to give highest possible credit card limit or personal loan amount?
No adverse but short time at the current address and on the voters roll mean low credit score. It would need to be a few thousand rather than tiny limits that are offered to people with adverse credit.

born_again

Credit score is not seen by lenders. It's a made up figure by the CRA's.
It's your history that counts. 

Best bet is someone such as your bank that has more data on you & is not bothered by short time at address.

Volcane

Every case is different but in my experience with credit cards the following have given me my highest limits :  

Tesco Bank
Virgin Money
Barclaycard
Sainsburys Bank
American Express

I can’t give any info regarding loans

Grumpy_chap

Mishomeister said:

Can someone please point me towards crefit card or loan provider that is known to give highest possible credit card limit or personal loan amount?
No adverse but short time at the current address and on the voters roll mean low credit score. It would need to be a few thousand rather than tiny limits that are offered to people with adverse credit.

As others have said, the credit score is not the most significant factor as lenders will look through the period at this address to your longer history and your record of managing past credit.

It is unclear what the OP actually wants and needs. 
Credit cards and loans are quite different products with quite different purposes.
The OP also needs to be clear how much they require as simply "as much as possible" is not going to look attractive to a lender.  Such an approach may come across as desperate and work against approval. 
I recognise that applications (particularly online)  may not appear to be that clever as to determine things in that way but the algorithms can be quite clever in determining such requests.

daivid

In addition to cards listed above Natwest group and Halifax have been generous to me. Halifax I have significant banking history with, Natwest I do not.

MrFrugalFever

I think you'll find that your income and affordability will play a more important role than you address change.

Some eligibility checkers via credit karma / MSE Credit club etc give you a really good indication of credit limit (they often say guaranteed limit or similar). Whilst none of it is guaranteed, there's a strong chance you could get it.

It is often best to use the above as guides and then proceed to the lenders own site and partake in the eligibility check with them directly before a final application is made (in my experience anyway)

CliveOfIndia

The good news is that your score is meaningless, it's not used or seen by any lender.  They will look purely at your credit history and associated relevant data, and assess you against their lending criteria.

The easiest thing is to run a few eligibility checks and see how you get on.  Eligibility checks are a rough guideline and offer no guarantee, but it'll at least give you an idea as to where you stand.

You won't know for sure how much you'll be offered - or at what rate - until a full application is processed.

The obvious question would be: are you sure a loan is necessary?  Your question about the "highest possible amount" gives the impression that you're desperate for a loan - if this is the case, then it's wise to re-evaluate the reasons for needing one, and whether it's essential. 

Grumpy_chap

This would be better kept with the OP's recent thread
https://forums.moneysavingexpert.com/discussion/6468813/low-credit-score-highest-limit#latest

Perhaps more help would be possible if the OP responds to the questions asked there.

Ryan_Holden

CliveOfIndia said:

The obvious question would be: are you sure a loan is necessary?  Your question about the "highest possible amount" gives the impression that you're desperate for a loan - if this is the case, then it's wise to re-evaluate the reasons for needing one, and whether it's essential. 

This is 100% what I took from the post too. Both threads are about the highest possible limit without actually specifying what amount is required. The credit score might be meaningless to the lender, but it's probably a good indication of some less than perfect decision making in the OPs past.

OP, what do you want the money for and how much do you need?

Grumpy_chap

To get the best advice, the OP may need to share more information on their position / status and the size and purpose of any loan obtained.

The OP has twice asked "how to get the maximum amount of credit?".
Both times stating a low credit score but no adverse credit history / data other than short tenure at current address / electoral role.
This thread, plus the following:
https://forums.moneysavingexpert.com/discussion/6469514/low-credit-score-where-to-go#latest

The OP has not responded to requests for clarifications.
In addition, the OP has one business they are closing and starting a new business doing the same thing:
https://forums.moneysavingexpert.com/discussion/6469597/accountant-recommendaions#latest

Can the OP provide clarifications which may support the ideas towards how to obtain the credit that is required?

• A low credit score is not critical.  It is the data behind that score that has more relevance.  Has the OP checked the main credit reference agencies to ensure the data they hold is correct?
• As short time at the current address is not, on its own, likely to be a major issue.  Does the OP have a previous record of residential stability or a record of regular moves?
• Does the OP own or rent their home?
• What income and assets does the OP have?
• Does the OP have recent employment history, or only self-employment / own Ltd Co?
• What is the purpose of the loan?
• How much does the OP need to borrow?  Simply saying "as much as possible" is likely to be a red flag to potential lenders.
• Is the OP putting any of their own capital into the purchase or borrowing 100%?
• Is the loan for a personal use or is it for the purpose of establishing the new company that the OP is setting up?  If for the company, a commercial lender will be required and will wish to see detailed business plans.
• Why is the OP closing a Ltd Co and starting a new one in the same field?  A lender may see this negatively, especially if they are left to reach their own conclusions as to why.