Credit
Refusal
When
you are refused credit
After
you have successfully corrected any errors and omissions in your
credit history files, and disassociated yourself from others with
a bad credit history, this does not automatically mean you will
obtain credit.
This
is because while lenders will use information supplied to them by
reference agencies, they each make their own individual assessment
as to whether to grant credit. One lender's willingness to offer
a £2,000 limit on a card can sometimes be matched by another
issuer's unwillingness even to offer one.
Before
the Loan company / Lender decides whether or not to give you a loan,
most credit companies will put your financial details through their
own credit "league table". People who own (or are buying)
their own home score higher than those in rented accommodation.
And having lived at the same address for years is much better for
your credit rating than having moved around.
High
points on you credit rating can be earned by being married, having
a credit card, and having held the same job for many years. Your
age is also an important factor, since the general 'rule of thumb'
is that , the older you are, the more the lender likes it.
OCIS
provide general financial information, we urge you to consult an
Independent
Financial Adviser ( IFA )
before making any important decisions about your finances. |
