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Refused credit limit increase
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tony3619
Posts: 410 Forumite
Hello,
I was trying to get an increase in my credit limit and I was declined with the reason being "you recently took out a payday loan or short term loan"
Finding this odd as I have never taken out a loan (except mortgage) I did a credit check and found out that my phone contract includes 24 x £8 listed as a loan on my credit file.
I started paying this in 2022 so could that be listed as a recent short term loan? And would that be enough to decline a limit rise?
I was trying to get an increase in my credit limit and I was declined with the reason being "you recently took out a payday loan or short term loan"
Finding this odd as I have never taken out a loan (except mortgage) I did a credit check and found out that my phone contract includes 24 x £8 listed as a loan on my credit file.
I started paying this in 2022 so could that be listed as a recent short term loan? And would that be enough to decline a limit rise?
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Comments
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Any insurance being paid monthly? Those are loans as well.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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⭐️🏅😇0 -
mobile networks are now selling phones as a loan, with a price plan for air time seperatly0
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Did you apply online - or speak with with a real person ?I've been declined for credit cards or upgrades electronically - but managed to get a satisfactory outcome talking to a human being.0
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