Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Goldstar28
    • By Goldstar28 7th Aug 18, 8:10 PM
    • 8Posts
    • 2Thanks
    Goldstar28
    Rate setter loan eligble
    • #1
    • 7th Aug 18, 8:10 PM
    Rate setter loan eligble 7th Aug 18 at 8:10 PM
    Hi all.

    I've just done a soft search with Rate Setter and I seem to have been approved with an interest rate of 27.4%.

    I'd just like to know if anyone has been approved for their soft search and then rejected once they've applied?

    I have one default on my report that won't be removed for another 3 years and that's my biggest worry and regret.

    So far done no hard searches or applications apart from 1 credit card last week which I was approved for. (ONLY for emergencies and increasing the credit score.)
Page 1
    • zx81
    • By zx81 7th Aug 18, 8:12 PM
    • 19,071 Posts
    • 20,312 Thanks
    zx81
    • #2
    • 7th Aug 18, 8:12 PM
    • #2
    • 7th Aug 18, 8:12 PM

    I'd just like to know if anyone has been approved for their soft search and then rejected once they've applied?
    Originally posted by Goldstar28
    Yes.

    The same is true of all lenders.

    So far done no hard searches or applications apart from 1 credit card last week which I was approved for. (ONLY for emergencies and increasing the credit score.)
    Originally posted by Goldstar28
    Two things here. You have no credit score, only credit history, and you must use the card to build history.

    Owning a card but not using it tells lenders you are nervous around credit.
    • Tarambor
    • By Tarambor 8th Aug 18, 3:54 PM
    • 3,665 Posts
    • 2,721 Thanks
    Tarambor
    • #3
    • 8th Aug 18, 3:54 PM
    • #3
    • 8th Aug 18, 3:54 PM
    Hi all.

    I've just done a soft search with Rate Setter and I seem to have been approved with an interest rate of 27.4%.
    Originally posted by Goldstar28
    It'd be cheaper putting that on a credit card.
    • foxy-stoat
    • By foxy-stoat 8th Aug 18, 4:22 PM
    • 2,835 Posts
    • 1,599 Thanks
    foxy-stoat
    • #4
    • 8th Aug 18, 4:22 PM
    • #4
    • 8th Aug 18, 4:22 PM
    I've just done a soft search with Rate Setter and I seem to have been approved with an interest rate of 27.4%.
    Originally posted by Goldstar28
    At least you can dodge that bullet !
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,510Posts Today

9,526Users online

Martin's Twitter