Fuming!

grumpy_grizzly_2

I applied for a loan with Tesco (of whom I'm already a customer) and got rejected. They claimed on the phone I'd understated my commitments. When I checked my credit record it turns out my two credit cards are still showing a balance of over £6k, which I paid off over a month ago.

Since making the loan application in the first place my car has croaked completely (the loan was to buy a new car) and needs several thousand pounds worth of repairs (much more than the car is worth).

My husband is now going to make an application, but is he likely to get rejected because I did (thinking financial association here). What can I do? Will this have an impact on remortgaging - our fixed rate is due to end shortly. Do I need to get some form of amendment made to my credit record? Or do I need to appeal the loan decision and try and get Tesco to remove their rejection from my record?

Thanks!

jonesMUFCforever

You could appeal and confirm by sending them copies of statements showing the cards either closed or at a nil balance.

twistedeagle

No need to be fuming!!

1. Send a copy of your new CC statements to show the debt has been settled. They would have relied on your credit record which probably hasnt been updated yet.

2. There is no rejection on our record, just an application. The result is never shown.

Rafter

Tesco would not be able to see your application if your husband applied. Unless it is a joint application, lenders are no longer allowed to take into account credit record of other occupants of the same house.

However, if there were any joint debts on your credit record, they might want to understand the share that is yours and what your husbands income is. They might also encourage you to make a joint application, which reduces their risk, because if you default, your husband becomes responsible for the whole debt.

Good luck with the car hunting.

R.