# Halifax - Refused Loan



## phoenix_n (16 Jan 2007)

I got refused a loan from Halifax even though i would have a perfect credit rating , full time high salary job, no debts and even i have savings in excess of the loan i was looking for.

AIB approved me within a Day.

I was wondering if Halifax are been very picky or are they just unindated with loan requests as the refusal certainly was not based on my personal circumstances.

Any ideas?


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## Money Bags7 (16 Jan 2007)

Similar stuff - refused me a credit card. Changed jobs recently so I think they had an issue with my "continuous employment", still waiting for them to return my statements etc. Very poor service still haven't received letters explaining why I was refused. Got my ICB report nothing bad on it.

Contacted AIB and had a loan approved in a daytoo!


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## moneyhoney (17 Jan 2007)

Money Bags7 said:


> Very poor service still haven't received letters explaining why I was refused.



Just for info - you are not legally entitled to a reason why you are refused credit.


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## Money Bags7 (17 Jan 2007)

Comment about poor service is in relation to the length of time it took them to make decision and convey same to me. I applied for CC at beginning of December, according to their literature you should be contacted within two weeks about decision. I rang them towards end of third week to be told a letter had been sent and that they could not give me details over phone. In early January I rang them and they said that the CC had been declined and they were sending me a letter stating why and returning my statements etc. Still no sign of any of these letters!


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## vector (19 Jan 2007)

I applied for the (as it was then called) Bank of Scotland Plastic Visa Card, hoping to ditch my AIB Visa and enjoy the lower interest rate.

But Bank of Scotland rejected my application.

I requested my file from the Irish Credit Bureau and noticed that AIB never recorded either my AIB car loan OR my AIB Visa on the file, that is a pity becuase I have a good history with each.

Don't AIB don't record things at the ICB? and if not why not? is it to stop people from moving to other banks


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## lab-rat (20 Jan 2007)

Hi There, 
I was also refused a credit card from Halifax. I was shocked as I have no other loans, apart from mortgage. I have a limit of 5k and at the moment have a balance of 2.5k, I wanted to avail of their 0% transfer offer.It asks what the combine salary is for the household, which is 85k ish. 

What are they looking for??


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## ranger (21 Jan 2007)

It's called Cherry picking.  Wait until Halifax profits start to dip here. They will be falling over you to give you CC's and loans.


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## bond-007 (21 Jan 2007)

moneyhoney said:


> Just for info - you are not legally entitled to a reason why you are refused credit.


Really? What would a request for your file under the Data Protection Act reveal? I have used this in the past to find out reasons for refusal. You would be amazed at some of the reasons.


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## bond-007 (21 Jan 2007)

vector said:


> I applied for the (as it was then called) Bank of Scotland Plastic Visa Card, hoping to ditch my AIB Visa and enjoy the lower interest rate.
> 
> But Bank of Scotland rejected my application.
> 
> ...


I found out that most banks do not register loans or Credit cards with the ICB unless they go into arrears. I found this to be true of BOI and UB.


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## moneyhoney (21 Jan 2007)

bond-007 said:


> Really? What would a request for your file under the Data Protection Act reveal? I have used this in the past to find out reasons for refusal. You would be amazed at some of the reasons.



I wasn't aware that refusals were recorded. I know that when you apply for  loan, cc etc. you give permission for the lender to access your credit file. Those searches are recorded but I din't think that a decision was recorded. However, the lack of a loan from that lender would indicate that the application was refused. Can anyone clarify?


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## GeneralZod (21 Jan 2007)

bond-007 said:


> I found out that most banks do not register loans or Credit cards with the ICB unless they go into arrears. I found this to be true of BOI and UB.



That's my experience also. Out of curiosity I recently checked my ICB report and was surprised to not see my AIB mortgage (recently paid off) on it. Only thing on it was MBNA CC (no blemishes).


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## bond-007 (22 Jan 2007)

MBNA seem to be the only bank that routinely registers CC accounts with the ICB.


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## bond-007 (22 Jan 2007)

moneyhoney said:


> I wasn't aware that refusals were recorded. I know that when you apply for  loan, cc etc. you give permission for the lender to access your credit file. Those searches are recorded but I din't think that a decision was recorded. However, the lack of a loan from that lender would indicate that the application was refused. Can anyone clarify?


The refusal is not recorded on the ICB but is recorded in the bank itself. Asking them for all your info under the DPA will reveal the reasoning for a refusal. Reading their comments on your loan applications can be a revealing exercise. 

The best one was where one direct refused me and I did the DPA on them. Rather than reveal the info they reversed the decision and I got the loan from them.


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## demoivre (22 Jan 2007)

phoenix_n said:


> I got refused a loan from Halifax even though i would have a perfect credit rating , full time high salary job, no debts and even i have savings in excess of the loan i was looking for.
> 
> 
> Any ideas?



Have you actually had loans  in the past from financial institutions, registered with the ICB,  to illustrate your ability to stick to a loan agreement - if not maybe that was your problem with Halifax.


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## user123456 (22 Jan 2007)

demoivre said:


> Have you actually had loans  in the past from financial institutions, registered with the ICB,  to illustrate your ability to stick to a loan agreement - if not maybe that was your problem with Halifax.


The problem seems to be that banks in general do not register loans on the ICB unless they are in arrears.


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## demoivre (22 Jan 2007)

user123456 said:


> The problem seems to be that banks in general do not register loans on the ICB unless they are in arrears.



Some records ( all ? ) at the ICB don't appear to be as complete as one might expect as contibutors on this thread have indicated. I only accessed my ICB record once and I too found it to be very incomplete with several loans and mortgages no showing up.


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## bond-007 (22 Jan 2007)

If you want something to be on your ICB report get a credit card from MBNA as they register all accounts on the ICB.


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## HotdogsFolks (24 Jan 2007)

Well I've just been refused a Halifax CC as well. Strange... There is no obvious explanation (I've a perfect ICB record, good job, etc.)


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