Turned down 3 times by different lenders

S

shep55

Guest
Hello
I wonder is anyone can shed some light on the following!
I was turned down by three different lenders even though
I have no blemishes on my credit file never missed a payment
and always paid!

Debenhams -asked for increase declined
Creation Finance -for furniture delined
A visa card from my mortgage lender declined.
I do have 2 other credit cards total 8k
but I earn 6ok per year

they all said contact the icb which i have but my rating is 100% ok
whats going on!!! has anybody else had this problem!!
 
You haven't given enough info, but earning 60k and then owing 8k on cc is not encouraging.
 
is 8k not enough debt already on credit cards without looking for more. might be more sensible to pay up front if you are earning 60,000 pa.
 
Shep 55

I am fairly new to this forum but have noticed that when genuine questions are posed that some of the answers posted can be bit smart, patronising and judgemental and you do not necessarily get a helpful answer to your question, so in order to answer your question without passing judgement I recommend you do the following :
1. Recheck your ICB report to ensure you included any previous addresses in your application so that all the information about your credit history is available to you.
2. Send a data protection request to the lenders asking for any information they have on file in your name, the lender will not disclose their lending criteria but you should be able to guage from the information whether they have any inaccurate or negative information which could impact the decision. You can also ask for a review of the decision by the underwriter.
3. Ensure your current account is in order with no unpaid items as this will also be taken into acount by an underwriter as well as your ICB profile.
4. Finally and just as a word of advice the interest rates for Debenhams cards or for lending on furniture , electrical goods etc are usually very high as the finance is mainly provided by moneylenders so you would be better off taking out a small personal loan with a reputable high street bank and even consolidating the cards into the loan as well.
 
EBennet said:
I am fairly new to this forum but have noticed that when genuine questions are posed that some of the answers posted can be bit smart, patronising and judgemental
Click to expand...

Come on - three lenders have turned him down, it's time the OP took that on board rather than making excuses or approaching further lenders.

You're encouraging him to ignore the problem, trying to scapegoat the lenders.

For all we know he may have a 100% mortgage.
 
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