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  • FIRST POST
    • Goldstar28
    • By Goldstar28 7th Aug 18, 8:10 PM
    • 7Posts
    • 1Thanks
    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
    • 18,027 Posts
    • 19,236 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
    • 3,387 Posts
    • 2,476 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
    • 2,441 Posts
    • 1,349 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 !
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