wwp8

last year i tried with a few companies for personal loans,
not a single one accepted me,
saying something about credit scoring and all that ****

ok, as with all common companies
they keep your records
so they can throw their **** mail to ya.



so my first one arrived today,

its from tesco personal finance telling me to apply for a credit card

i remember this company the most
as the guy said incase i might not be able to pay it off, i need the loan to be in joint names,

ok i thought and did that.
after a couple of weeks, they said no .

so bo!!ox to them
i am gonna write back to them.
and say


Dear sir,
thank you for your recent invitation for a credit card
i have carefully considered your invitaion and regret to advise you that i am unable to accept your offer for this service at this time
my decision is based on a credit scoring system that takes into account the details you have provided and information , from a licensed credit reference agency,
this does not necessarily mean the credit reference agency have any grudge against you
however if you would like to obtain the information please send a grovelling letter with a cheque for £2 to (ME)

i am sorry I have been unable to help you this occasion

but this doesn't mean that you have to stop sending junk mail to me, as my blue recycle bin still is only half full

thank you

Petem95

Why is your credit rating so bad? Also you can check it free by signing up for a 1 month trial with Experian.

wwp8

dunno i paid the fee
can't see whats wrong
except i did miss 1 payment on a credit card

Jerome

Applying for lots of loans in a short period of time is looked upon as an indication of a bad risk, so that alone could have been the cause of the Tesco refusal.

Also, junk mail is indiscriminate and it will still go to people who will fail a credit check.

Petem95

Are you on the electoral register? That affects your credit rating.

m111usy

i know what you feel like mate....chit isnt it!

When i lived with my parents 2 years ago i couldnt get loan for love nor money. The house of my mum and dads was black listed and because thats where i lived no ****** would give me a loan. Well i tell a lie my bank eventually gave me a loan (at 19%apr) after i had written to 'experian' to ask for them to diss-associate me with any bad credit at the address i lived at. If you write to them (experian) they will send you your file with all the deatils of your credit score that banks use. Then you can write back and get them to change it.
Its also a ****** because every time you are declined for credit it makes your score worse, therefore no one will give you a loan.
My advise is get in touch with experian to see what the matter is (The previose occupyer of your house could have got your address blacklisted), and dont apply for loads of different companys for loans because it only takes a few to decline you and then your credit score is fecked for a few years.

IanW

I would certainly get copies of your file from Experian and Equifax.

You can actually order them both online now i seem to recall, for a few pounds each.

wwp8

oh yeah , the recent one was yesterday,
i applied for a brokerline share dealing account with natwest,
and they refused me same reason (even though i have an account with them since my late teens)
anyway i already have a hsbc one and was using them
it will be more convenient for me with natwest as most of my money is in there

so they can stick that in their **** hole

i should roll the letter up, and send it back in a jiffy bag
with a letter saying i have conveniantly rolled up your letter for ease of insert up your public **** hole "wnaker"


i got the equifuc one already

Petem95

Goes on people with the same surname and the address, not simply the address as far as I know. Otherwise anyone who's lived in a student house would be screwed!

stringvest

stop applying



try your best to start with a low company like capital one mastercard


i was soo bad when young with bredit totally screwed myself i had to wait 6 years for the defaults etc to come off my file


even then due to the attempts of me tryin to get credit i got refused


suddenly cap 1 accepted me gave me a 250 limit card lol


rest is history but now im totally credit worthy, get accepted for every card i try, banks etc no prob big limits on me cards


just pay it off at the least the min payment each month and within a year your on your way but ya gotta stop trying as it really does **** ya up

ajm

omg after this latest string of posts from wwp8 is anyone else visualising the poor chap as Eeyore off Pooh Bear?

My roof is fecked.... my credit rating is screwed.... I got rejected from B&Q....



sorry by the way!

wwp8

it gets worse, but i'm not gonna tell THAT one

Jamo

iTrader: (23)

send me a copy of your credit file and ile tell you if its bad or not mate.

feel free to pm me.

james (work in banking, Credit services and loans are my specialty )

Petem95

Ive just applied for the free Experian 'check your credit rating online' trial thing, but they send you an activation pin via snail mail so cant log in yet

Whats the best way to get a good rating then? Just keep paying off your monthly CC balance in full (as I always do, however Capital One claimed they got the cheque late the other month.... 20quid fine )

wwp8

got to find it first, put it away during xmas,

Petem95

Oh go on!! Bet its not that bad really!

fast bloke

you just need to know how the system works - credit score is based on loads of things other than your history - several addresses in the last three years and no electoral register means you are feked. No education past gcse? -20 points. changed jobs more than twice in three years?? -20 points - young kids?? -20 points - self empoyed for less than 3 years?? -20 points - changed bank accounts in the last 3 years?? - 20 points. Most of this stuff they can only tell by your application. If you happen to forget some stuff, they have no idea. Experian and equifax do not hold details of your current account or overdraft, or your kids or of your employment status, but a good history with some less than perfect circumstances can sink you. Find yourself a decent financial advisor - pay them a couple of hundred quid and they will sort it out

Petem95

Not great for those who went to uni then?

fast bloke

just put down your home address - they can't really work out the difference without a 6 month audit

Petem95

Thing is I managed to get onto the electoral registers in student addresses somehow.... would look bad if they checked up.

Also fast bloke, am I correct in thinking you can only pick up a bad credit rating from a previous address only if people of the same surname have lived there? (if you get what I mean!)

fast bloke

depends on how the lender checks history. Sometimes they just send a number and a postcode, so everyone and everything shows up. If you have been on the electoral reg at your studen addresses it is not so bad. The lender knows that you have a history. Get your experian report, which will tell you when you have been on the electoral register. Put down home address for all the times of more than a year that you are not on the electoral reg. That way they think they are following your history, so your chances of an approval are much higher.

(btw - I got all the tricks from a senior underwriter in Nationwide - nothing illegal, merely working the system)

Petem95

Thanks for the info

Will check through my credit report, and try and improve on it, as Ive got a feeling its crap!

If it is, then at least you start a new one when you move abroad, so its yet another reason to move overseas

fast bloke

no history is probably worse than slightly negative history. ideal history is loads of credit cards with minimum payment being made every month. That way they think you will pay up when required, but they can make a few quid out of you at the same time

Jamo

iTrader: (23)

iirc we can take -20 for every child plus you have to take into consideration affordibilitys, of minus £100 per month per child!!

if you ever get declined, always ask if you can appeal a decision, as then a human will look at your application again, and (sometimes) overturn it, this is really worthwhilst if you have no history, ie cards etc. the easiest way to get a start with credit unfortunatly is to get a crapital one card. pay it of minimum payment for a couple of months (by direct debit not cheque) and full occasionally, dont go over board on spending, and all of a sudden you have a credit rating (after 3 months iirc?)

hth

jamo

MAC76

Banks all seem to do there credit checks differently, even different departments in banks
Example : First Direct .... Yes sir Gold Credit card no problem , £15000 limit
First Direct again .... Sorry but you have failed credit scoring for a SAVINGS ACCOUNT... WTF
Very Odd

dba

the more searches against your name,the worse it will get,so be selective about your apps

credit scores are simple things,if you don't have a land line you may fail,less than 3 years job and house you may fail,in rented accomodation they will just laugh at you

many people give a mobile number and then wonder why they don't get through

Jamo

iTrader: (23)

each account is scored a different way, your sometimes more likely to get a loan than a credit card, its something to do with risk.

jamo

theotherphil

What I find funny is Cahoot. My parents have lived in the same house for nearly 20 years. Both my mother and my father have good jobs and are financially secure with excellent credit history. My Mother applied for a savings account with cahoot to put money away for holidays etc. She was declined....wtf? She wants to put money into a bank and she is declined because she can't prove her identity. She sent her passport, driving license and work ID (Paramedic for 22 years). They wanted a recent bill in her name but the bills are in my fathers name - the mortgage in hers so she was declined. What makes this so ironic is that both my parents have a current account with cahoot. Multiple appeals changed nothing.

They don't mind giving you credit where they can charge silly amounts of interest but try to save money where they'd have to pay you interest and they don't like it.

wwp8

i heard that equifax and experian holds sometimes more/less information from one another

as i remember i applied for something and they said they will do a CS on me,
i said "yeah fine" (infact thinking oh ****)
but the CS was ok.