Turned down for credit - what's going on score is 999

[anney63]

I recently applied fot credit on an item that was marked as interest free for a year

I thought I might as well have credit even though I could afford.

 

I could not believe I was refused.

I have tried to find the reason but not getting anywhere.

 

I am self employed earn £60k a year have 2 mortgages  one of which is a buy to let and a 45K car which is on credit .

My credit rating is 999 which is the highest it can be.

 

I have NEVER missed a payment on anything.

I also aave credit cards which are at zero balance . 

 

I have contacted Transunion/ Equifax and cant seem to obtain a definitive answer .

Why would i be refused credit on a mere £1500

 

where do I go to get answers.

How can I rectify this problem surely somebody needs to explain why. !!!

[fkofilee]

Hi There

 

Each lender has their own criteria for Lending. Some will only lend to Sub Prime Customers. Some you must have an impeccable score and be on the Electoral Roll.

You will not get an answer from the CRAs. You can only check your records with them. They dont make decisions for lenders, they just provide the information like Public Records, How youve handled your accounts, Electoral Roll etc. 

 

You dont have a right to Credit. You wont always be approved even though you have a top score. Scores mean nothing from CRAs anyway,

[unclebulgaria67]

To add to what has been said, credit scores are just one small factor.  You are scored on all of your other information.

 

If for example you have only been at current address for say less than 2 years that is a factor.

 

Self employed is a factor, which might lead to a computer saying no, as it might think an employment contract is more secure income.

 

You have quite a lot of existing credit, so the lender thinks you have too much already based on their own risk criteria.

 

This is a computer saying  no. There will probably be no human making an assessment.