Uk No Credit Check Personal Loan

Edwards Finance > Credit Check

Q. I phoned up to apply for a personal loan today, not because I want one but because someone suggested it as a good way to find out if you have a good or bad credit rating. I was quoted 6.1% APR at the start of the call, then full details were taken and after this the advisor came back and said they would offer a loan at 7.7% APR. When I questioned this they told me this was as a result of my credit score based on what I had told them and what Equifax had on record. Now, from the details I gave them my income would be comfortably more than my expenses, so I can't see there being any issue there, so that only leaves the credit reference agency's info as a reason for the APR increasing. Alternatively, is this simply salesmanship in action with them taking the chance to bounce the APR up a bit as I commented that 6.1% was better than I was expecting? Ok, the main point of the post, I've visited Equifax's website and requested a copy of the info they hold on my in line with the DPA, but do I need to do the same with Experian, or do they share info to the extent that it's going to be the same data?

A. Strange idea, as each compnay will have a different scorecard, so an acceptable one for Bank A is a decline for Bank B, and a high accept for Bank C. No. If the automatic decision referrs it *then* it will be looked at manually. If you caused a stink it probably would get looked at by someone higher than the operator(maybe a team leader, maybe the underwriters, but I would imagine the Underwriters will stand by the original decision, unless something that the "system" couldn't assess comes into play. And as a general rule, anything the system can't assess is out of bounds.

Ask Edwards a Finance Question

Other Questions:

Run Credit Check

Yesterday I visited a small software maker's offices, which consisted of two small, well-maintained buildings, each half a football field... and 4 cars in the back lot. It looked like one of the bldgs contained equipment, but no bodies. ...

If I can order my credit report from Experian for $8, why do lenders charge a $50 to $60 credit report fee when applying for a home loan?The Trimerge credit report obtained for $8 is a simple infile credit report from a single repository. As a...

Every month, I have my electric bill (I live in Michigan; my electricity provider is DTE) emailed to me. I usually pay the bill online when I get email that it's ready to be paid. Unfortunately my emailed bills got tagged as spam for 3 months...

I just asked for ours today... I think it's nationwide in U.S. free at http://annualcreditreport.com - actually, you can get one from each free each year... anyhoo, although I always believe there will be no surprises, there have always be...

Nobody is obliged to report your payment history. I belong to a credit union which, at its annual meeting, announced that they were going to start reporting members' loans, in order to ensure that members would get recognition for their good c...

Edwards Finance Menu

Ask a Question
About Us / Me
Contact Me
Privacy Policy

Sitemap

My Favorite Sites

PFBlog
Google Finance
Yahoo Finance
Motley Fool
Nveille's Financial Blog
AllFinanceMatters
Free Money Finance
2MillionBlog
The Terror Finance blog

Q&A Subjects