# Finance from Dell



## Jamjam (26 Apr 2006)

I need a new notebook. I applied for dell finance. I was rejected. He says the finance company never gave a reason. I have excellent credit rating. It appears that I earn good money (about 56k last year) and have a steady professional job. I could have bought the notebook out right but wanted the finance for certain reasons. As a result i'm not buying a dell now and am buying elsewhere....without finance! My pride is hurt!

Can i find out why i wasn't given the finance?
Anyone else experience the same?

Thanks and apologies if this is in the wrong place ....usual excuse....I'm new and am unsure


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## CCOVICH (26 Apr 2006)

Strange as it may seem, maybe it is because you have an excellent credit rating that they turned you down. I have said this before, but people don't believe me, but certain finance companies don't like borrowers who redeem loans early-have you ever done this?

Anyway, how do you know you have an excellent credit rating? Your credit rating depends on the finance company that is doing the scoring, and scoring methodologies vary depending on who is doing the scoring. The scoring will be based on the information you provide in your application and on information received from the Irish Credit Bureau (ICB). It may be worth your while:

1. Writing to the finance company in question to ask why you were refused;
2. Writing to the ICB to get details of your credit record (even a late cc payment made 2 years ago could be considered a 'black mark').

Apart from the fact that their may be unknown black marks on your credit record, I wouldn't lose much sleep over it. I'm pretty sure any finance deal sold by Dell isn't the most competitive anyway.


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## asdfg (26 Apr 2006)

Check your credit rating with the Irish Credit Bureau. Do a search on google. If it shows up anything that should not be there, get the financial organisation that put it there to remove it.

Post crossed with CCOVICH


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## ClubMan (26 Apr 2006)

At 17.9-22.9% APR they're probably doing you a favour by refusing you credit!


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## Jamjam (26 Apr 2006)

ClubMan said:
			
		

> At 17.9-22.9% APR they're probably doing you a favour by refusing you credit!



Thanks a mill. It was my pride more than anything. I just couldn't believe it. I will check credit rating out too. There shouldn't be a black mark there but I guess mistakes can be made. I have paid loans off early in the past too.

I'm glad I didnt get it now!

Thanks again

J


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## runner (26 Apr 2006)

I think its Permanent TSB that provide Dell finance.


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## CCOVICH (26 Apr 2006)

runner said:
			
		

> I think its Permanent TSB that provide Dell finance.



No, finance is provided by CIT Group.


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## intermission (30 Apr 2006)

Sometimes companies use a scoring system to determine whether or not to give credit, which can produce some quirky results.

Take an example of someone who has just obtained a new job paying a higher salary than their old one, allowing them to move to a more expensive house. You would think this person's credit rating would be better now than before. Not necessarily so! The fact that they have moved house and changed job could count against them. Scoring systems usually take into account length of time with current employer and time lived at current address. If one or both of these are low then an individual could end up being refused credit, even though they might technically be better off than they were before!


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## lff12 (1 May 2006)

Jamjam said:
			
		

> I need a new notebook. I applied for dell finance. I was rejected. He says the finance company never gave a reason. I have excellent credit rating. It appears that I earn good money (about 56k last year) and have a steady professional job. I could have bought the notebook out right but wanted the finance for certain reasons. As a result i'm not buying a dell now and am buying elsewhere....without finance! My pride is hurt!
> 
> Can i find out why i wasn't given the finance?
> Anyone else experience the same?
> ...


At least you got a response . . . I applied 3 weeks ago, and 3 phone calls, 6 emails later, I am none the wiser. I assume the finance company turned me down (did have some arrears about 4 years ago which would still be on the record), but nobody is actually telling me that, they just haven't bothered telling me if that it is the case. Be thankful that they haven't left you in limbo for the last few weeks.

I too will be buying my laptop elsewhere and giving no future business to Dell.


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## Jamjam (1 May 2006)

Hi llf12. thanks for your reply. I'm glad someone is in the same boat as me! The thing is, I have tried contacting Dell and the finance people to find out why I have been turned down. I haven't any debts....just the usual credit card bill and overdraft at end of month! Is there any way we can find out??


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## lff12 (2 May 2006)

Its the same as if anybody else turned you down . . . you don't have the rights to find out why, but sometimes they will tell you if you ask.  You could call the switchboard in Cherrywood and ask to be put through to Dell Financial Services, who might be able to shed the light, but I doubt they can tell you why.  Financiers have a right to keep their credit scoring methods to themselves, for obvious reasons.

As for my case, I don't actually know if they turned me down for finance, as my order vanished into the ether and nobody can tell me anything other than the fact that the order hasn't been put through for processing.


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## bond-007 (2 May 2006)

lff12 said:
			
		

> Its the same as if anybody else turned you down . . . you don't have the rights to find out why.



That's not true! You have the right to know why. Just ask for all the info they have on you under the Data Protection act. You will then know why you were refused.


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## RainyDay (2 May 2006)

They don't have to explain their reasoning to you, though they do have to show you the data they have on file.


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## bond-007 (2 May 2006)

which will contain their reasoning.


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## RainyDay (2 May 2006)

Almost certainly not - They are generally smart enough NOT to keep a record of their reasoning on file specifically to avoid having to give explanations in situations like this.


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## bond-007 (2 May 2006)

I'll tell you a little story so. Many years ago a certain bank turned me down for a loan, whilst every other bank said yes. I asked for the file under the DPA and saw on it the reason for refusal. They were not very subtle tbh.


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## ClubMan (2 May 2006)

Does the _DPA _still only apply to electronic files but not to hardcopy/paper files which used to be a way around it?


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## RainyDay (2 May 2006)

Like you say, "many years ago".....

Clubman - The DPA was amended a couple of years ago to apply to paper records also.


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## Jamjam (2 May 2006)

Well I am wondering why I have been refused even more so now after receiving ny new credit card from BOS. They gave me a limit of 1000euro. When I rang the customer service guy to ask for an explaination he  said that it may be worth checking my credit rating as this determines the limit. Could there be a mistake on my credit rating? I have in the past paid off loans early but have never missed a repayment. What if there is a mistake? How can it be rectified?  Not that i'd accept the dell finance now anyway but i don't want to have poor credit rating when I have nevr missed a payment. I did get approval for a pretty good mortgage on my own recently. Surely I wouldn't have got that if I had poor Credit rating. Sorry for rambling but I'm freaking with worry!


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## ClubMan (2 May 2006)

RainyDay said:
			
		

> Clubman - The DPA was amended a couple of years ago to apply to paper records also.


I see - thanks.


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## CCOVICH (3 May 2006)

The ICB don't hold your credit *rating*, it holds your *record*.  Credit institutions use the data held by the ICB to come up with their own rating.  This will vary between institution. The criteria on which they base their decisions may or may not be recorded-your application could just be stamped 'declined'.

If it really matters at this stage, see my suggestions in the initial post.

On the basis that BoSI have given you a credit card, you have been approved for a mortgage, and that the rate of interest charged by Dell/CIT is extortionate, I would be inclined to forget about it at this stage.


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## lff12 (3 May 2006)

Jamjam said:
			
		

> Well I am wondering why I have been refused even more so now after receiving ny new credit card from BOS. They gave me a limit of 1000euro. When I rang the customer service guy to ask for an explaination he said that it may be worth checking my credit rating as this determines the limit. Could there be a mistake on my credit rating? I have in the past paid off loans early but have never missed a repayment. What if there is a mistake? How can it be rectified? Not that i'd accept the dell finance now anyway but i don't want to have poor credit rating when I have nevr missed a payment. I did get approval for a pretty good mortgage on my own recently. Surely I wouldn't have got that if I had poor Credit rating. Sorry for rambling but I'm freaking with worry!


 
Go to http://www.icb.ie
I discovered that there was an error on my record which made it look like a loan wasn't paid off (for some reason the record seemed to have just stopped before the loan was paid off).  Once you apply to get your record checked they give you a reference with which you can query it.
I have decided not to bother pursuing it further as it dates back more than 3 years, so would be removed from the record within 2 anyway, and I've no plans to borrow anything much in the meantime, except from my own bank, who've always given me everything I asked for (surprising considering that there is this blotch on my record!)

However in your case if you've just taken out a mortgage they might feel you were already heavily borrowed.

I just found out by the way who CIT Finance are - or used to be.  They were originally a company called the Associates who were taken over by Citibank a while ago - these guys were borderline money-lenders.  Their speciality was on the sub-prime lending market at usurious interest rates of as much as 29%.  After comparing loans from other lenders, I think they might have done you a favour.

I've applied for a bank loan from one of my own banks and will not be buying the Dell, but I have been pushing them to get an answer as to why my order has sat on hold for 3 weeks.  I saw on the ICB report that they checked my record on the day I oringally placed the order.


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## CCOVICH (3 May 2006)

lff12 said:
			
		

> I discovered that there was an error on my record which made it look like a loan wasn't paid off (for some reason the record seemed to have just stopped before the loan was paid off). Once you apply to get your record checked they give you a reference with which you can query it.
> I have decided not to bother pursuing it further as it dates back more than 3 years, so would be removed from the record within 2 anyway, and I've no plans to borrow anything much in the meantime, except from my own bank, who've always given me everything I asked for (surprising considering that there is this blotch on my record!).


 
It's your call of course, but I would advise you to get this sorted out as it is well within your rights to do so.


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## Judybaby73 (3 May 2006)

I'm defo checking mine and am just printing off application form.


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## ClubMan (3 May 2006)

Judybaby73 said:
			
		

> I'm defo checking mine and am just printing off application form.


Why? Are you applying for credit any time soon? If not then you could spend the €6 on something more interesting.


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## Jamjam (3 May 2006)

ClubMan said:
			
		

> Why? Are you applying for credit any time soon? If not then you could spend the €6 on something more interesting.


 
I'm not but I still want to know if there are any mistakes on mine. I'm not having any black marks after my name. I have never missed a payment or done anything wrong. I just couldn't sleep at night if I did!

Also the 6euro won't break the bank!

I've sent it off now anyway. Does it take awhile to get it back?


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## Judybaby73 (8 May 2006)

ClubMan said:
			
		

> Why? Are you applying for credit any time soon? If not then you could spend the €6 on something more interesting.


 
Yeah I'm sorry I did send it off now! Waste of money indeed. Not a blemish on it as I thought, Not very detailed either. I was expecting much more!!!


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## ClubMan (10 May 2006)

Thanks - I was half tempted myself but thanks to your experience and feedback I'll spend the €6 on something more exciting like a few cans of _Bavaria_.


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