My friend earns €45k basic and has one loan.
The loan is for €50k over 58 months.
He's made 16 payments and has overpaid as he wants to clear it faster. He had a credit card in the past and always cleared his balance monthly.
But recently he applied to Halifax and Tesco for credit cards and was turned down by both of them. They said it was because of his credit rating. He checked his credit report and the loan is on it but nothing negative as he has always kept his finances in good order.
I just don't get it. I have a credit card and I'm a student so I'm not even earning! So how come he was refused? Is this the credit crunch in action?
He wants a card for the convenience, doesn't need a high credit limit, any idea what he should do?
I think he's feeling bad that he was rejected.
The loan is for €50k over 58 months.
He's made 16 payments and has overpaid as he wants to clear it faster. He had a credit card in the past and always cleared his balance monthly.
But recently he applied to Halifax and Tesco for credit cards and was turned down by both of them. They said it was because of his credit rating. He checked his credit report and the loan is on it but nothing negative as he has always kept his finances in good order.
I just don't get it. I have a credit card and I'm a student so I'm not even earning! So how come he was refused? Is this the credit crunch in action?
He wants a card for the convenience, doesn't need a high credit limit, any idea what he should do?
I think he's feeling bad that he was rejected.