natwest loan problem/s

needabiglotterywin

Hello
I've tried to get some money for a few month now, consequently damaging my credit score i think, as iv been refused. I think nat west have help ruin it, when i rang to check my account balances they said your approved for a credit card, put your overdraft on it and the credit card apr is cheaper than the overdraft apr, so i applied - it decined.. so this has happened god knows how many times. Now i really need a loan, i cant get one. i had a loan last year with natwest for 3000 over 12months , paid it without missing a payment, yeah i was good i pay my catalogs on time, store cards on time, i cant understand it. I rang Natwest 3 days ago and asked for a £3500 loan... got turned down on credit score appatantly, but the banker manged to get it overturned.. lend £1750 over 18 months, (£400 interst) but with that pay off my £1450 overdraft, leaves me £350. Im disgusted. Im paying £900 off my overdraft next month in one go next month so my overdraft is no problem to me. Iv applied for about 3 loans and 3 credit cards in the last 6 months, Is there any chance i would get a loan or will i just keep damaging my creit score/report?

needabiglotterywin

sorry for long winded post.

queen_of_leon

i believe the 'footprint' stays on your file for 6 months so you may want to get your credit files from the 3 leading CRAs in the meantime ( experian, equifax and call credit...£2 fee per application) to see what's on there.
there's some useful stickys at the top of this forum to see which lender uses which CRA and maybe you can then apply to the most favourable lender.

i had similar dealings with my high street bank (had current acc,OD,cc and loans with them...without default yet they still refused me the refinancing AND placed a "strict flag" on my account for no apparent reason!) but had no problems applying elsewhere. as martin sez...never get all your borrowing from one provider. it's in their best interest to keep you heavily in debt!

needabiglotterywin

hi, thanks for your reply! Thats what my other half said about natwest offering that lousy loan,your very right, its in there best interests only cus it sure aint helped me! i did try a loan with aliance and leicester, to no avail, and virgin, same outcome. I dont know what to try next, sainsburys? tesco? Its getting me down i must admit x

queen_of_leon

yeah it does get you down. i think when it's your high street branch and you've been with them a while they take advantage of you by offering you ridiculous deals thinking they're doing you a favour.

i just backed off for a few months, got my credit file and followed some of the tips on this site. then i tried egg, which had one of the best deals around and got accepted. i didn't get the low rate i wanted but it was better than the one i had and i can pay it off early without penalty. i did have a cc with them tho and that may have helped my acceptance...even though i defaulted on it last year!

so don't give up : )