£700 loan refused

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  • Arleen
    Arleen Posts: 1,164 Forumite
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    The fact that on a combined income of 70k you need to borrow 700 quid is the biggest give away of your financial not so well being to the lenders. No need for any credit scores to see that.
  • dawyldthing
    dawyldthing Posts: 3,438 Forumite
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    Check on noodle, it shows all searches on your account
    :T:T :beer: :beer::beer::beer: to the lil one :) :beer::beer::beer:
  • Clive_Woody
    Clive_Woody Posts: 5,855 Forumite
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    Arleen wrote: »
    The fact that on a combined income of 70k you need to borrow 700 quid is the biggest give away of your financial not so well being to the lenders. No need for any credit scores to see that.
    He already explained that the application was due to a 0% interest offer rather than a need for credit.

    I take 0% deals if offered as I would rather the money sit in my accounts earning interest.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
  • Arleen
    Arleen Posts: 1,164 Forumite
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    Clive_Woody wrote: »
    He already explained that the application was due to a 0% interest offer rather than a need for credit.

    I take 0% deals if offered as I would rather the money sit in my accounts earning interest.
    Not a different situation at all from lenders perspective. It's either someone on whom you will not make money or someone who struggled enough to needs the 700 quid on such good salary (aka likely a bad account), either way a rejection stamp.
  • onefurlongout
    onefurlongout Posts: 188 Forumite
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    dawyldthing wrote: »
    Check on noodle, it shows all searches on your account

    Nothing showing as a search, checked clearscore as well
  • onefurlongout
    onefurlongout Posts: 188 Forumite
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    Arleen wrote: »
    The fact that on a combined income of 70k you need to borrow 700 quid is the biggest give away of your financial not so well being to the lenders. No need for any credit scores to see that.

    As I said I was just taking advantage of 0%. Rather I keep the cash then the seller
  • onefurlongout
    onefurlongout Posts: 188 Forumite
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    Arleen wrote: »
    Not a different situation at all from lenders perspective. It's either someone on whom you will not make money or someone who struggled enough to needs the 700 quid on such good salary (aka likely a bad account), either way a rejection stamp.

    But my credit score and other factors suggest it’s not a ‘bad account’ and that why I want to know about it. Being Barclay they can even check my current and savings accounts. All healthy.

    The loan isn’t an issue it’s the reason that’s bugging me.
  • meer53
    meer53 Posts: 10,217 Forumite
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    It will have to bug you as they don't have to tell you anything apart from "you don't meet our criteria"
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
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    They may just have reached their quota of loans for the month. Don't take it personally.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • ReadingTim
    ReadingTim Posts: 3,970 Forumite
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    onefurlongout wrote: »
    But my credit score and other factors suggest it’s not a ‘bad account’ and that why I want to know about it. Being Barclay they can even check my current and savings accounts. All healthy.

    The loan isn’t an issue it’s the reason that’s bugging me.

    Maybe they decided that you aren't likely to be a very profitable customer, so decided they'd rather lend to someone whose current and savings accounts were a little less "healthy" and therefore might be interested in other products, such as overdrafts, credit cards, loans and the likes.... products which make the bank money, rather than lose it money by providing an interest free loan to a customer who doesn't need it.

    You might think you're a good customer but from the bank's perspective - ie to make a profit - you're not.
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