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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To think I should not have been turned down for £300 credit in Ikea

49 replies

theduchessstill · 27/05/2017 10:53

Never happened to me before- so embarrassing. It would have been about £30 a month ffs I am on £45000 and plenty left over each month.

I have about £6k on other interest free cards and a car loan but have never missed a payment and it is all affordable. I get 4/5 on noodle or whatever it is called.

Just why??,

OP posts:

wickerlampshade · 27/05/2017 10:54

So why not just pay upfront or put it on a credit card?

mailfuckoff · 27/05/2017 10:55

If you have so much disposable income why did you apply for credit for 300? Do you not have savings? That's the bigger question here!

Gabilan · 27/05/2017 10:58

Impossible to say without knowing more, which it probably wouldn't be a good idea to post. I know lenders do not like people to be at full stretch (well, scrupulous lenders don't, obviously there are plenty of loan companies out there that don't care at all.) Could it be connected to your address? Have you moved recently?

Just wait until you have the money and then buy it or put it on another card. (Not advice I would always give but if you're earning well and can afford repayments, could you just wait?)

Original poster

theduchessstill · 27/05/2017 11:01

Because I'm going through a divorce and keeping money back for lawyer's fees. Most credit card debt caused by useless ex. Once financial settlement reached will pay down the cards more and build up savings.

Ikea offer very low interest rate so a good way to pay in installments.

OP posts:

fourquenelles · 27/05/2017 11:02

I wanted to buy some window film on line from Studio (all of £8 max) and I didn't realise that I needed to open an account with them to do so. Imagine my surprise when I had a letter refusing me credit. My Experian score is 999 BUT I had moved house within the month, hence the need for window film. Studio's loss, Clas Olsen's gain.

CowParsleyNettle · 27/05/2017 11:03

ClearView or Noddle for a free credit history checker.

DH got turned down for credit by British Gas, but he supplied incorrect address details so the system just automatically said no. He included an address he's never registered anything to.

CowParsleyNettle · 27/05/2017 11:04

If you have credit card debt and owe over 50% of the available total, it will go against you, according to The Money Program in Radio 4.

Original poster

theduchessstill · 27/05/2017 11:14

I have been at my address for about 6 years and saw them enter the address correctly. Been with my employer 12 years. Am already on Noddle and last time I checked (couple of months ago) it was 4/5 - same as it is every time.

CowParsleyNettle Can you clarify what you mean - am probably being stupid, but 50% of what available total?

I have just added to my mortgage - not a huge amount - to pay ex out. Although have it agreed but it hasn't gone through yet as our settlement hasn't been signed off yet. Could that have affected it?

OP posts:

RB68 · 27/05/2017 11:20

find some o percent credit cards - you should have no problem and they will be better if you are paying down

Gabilan · 27/05/2017 11:20

I'd heard that about credit cards as well except I heard 2/3. Say your available limit is £5000 and you currently owe £4000, you'll be at 80% of your limit and that can cause your credit score to dip.

I would run a credit check yourself to see what might have happened in case the ex has managed to do something dubious that's affected your score.

KanielOutis · 27/05/2017 11:21

I don't understand why you would want credit for £300. And I'm even more baffled why the shops offer it. If you can't afford £300 in one hit why not buy a bit at a time? My whole flat is Ikea - one trip a bookshelf and a table £50, another time some kitchen bits £30 etc. I don't have £300 to blow in one go so I don't.

WatchingFromTheWings · 27/05/2017 11:23

I have just added to my mortgage - not a huge amount - to pay ex out. Although have it agreed but it hasn't gone through yet as our settlement hasn't been signed off yet. Could that have affected it?

Probably. My credit rating was 960. Had a mortgage agreed a few days later, rating dropped to 340! Have you checked your rating since you increased the mortgage?

Original poster

theduchessstill · 27/05/2017 11:23

Thanks Gabilan I have four cards - one at about 40% of available credit, another with about £3K and I'm not sure of the limit, and the other two have nothing on them. So I can't be at 50% overall. I think it goes against you having lots of cards, but I've had these for ages and it didn't stop me getting my car loan or increasing my mortgage .

OP posts:

Original poster

theduchessstill · 27/05/2017 11:26

KanielOutis See my post at 11.14 for a reason as to why I'd like to spread the cost. Buying bits at a time is fine, but ds1 needs a new wardrobe and I don't want bits of wardrobe hanging around the house for months! His old one is not fit for purpose and I'm sick of everything getting messed up in there and him never wearing half of his clothes as he can't see what he's got!

OP posts:

Mehfruittea · 27/05/2017 11:26

MIL got turned down for credit with studio. £15 purchase. She was baffled as just wanted to pay with her normal card. There is a business putting itself out of business...

PeaFaceMcgee · 27/05/2017 11:30

Sometimes you don't get accepted for credit if your score is 'too good' - i.e you're likely to make all your payments and they won't make much (or anything) on interest.

Credit companies can change their sought after customer profiles at any time, depending on how their business is going.

TheFrendo · 27/05/2017 11:33

Maybe your useless - STBX has mucked up his credit rating and as you have an address in common your rating gets hit too.

JaniceBattersby · 27/05/2017 11:34

It's a really bad idea to start applying for credit as you're getting a mortgage agreed. If they've not yet released the funds then they may well credit check you again before doing so. Too many credit checks can have an effect on your credit worthiness.

Original poster

theduchessstill · 27/05/2017 11:36

Ex does have an awful credit rating and lots of debt. I've checked it regularly since he went but I suppose he might have done something very recently. Scared to look now.

OP posts:

Gabilan · 27/05/2017 11:38

Too many credit checks can have an effect on your credit worthiness

I think that can apply even if it's you doing the checking. MSE have a tool for doing a check that doesn't affect your credit score. Although it's not quite as accurate at least trying to work out what's going won't then cause you further problems.

happypoobum · 27/05/2017 11:44

I have a very good credit rating and no problems, but a few years ago I was also turned down for credit with Ikea.

I was gobsmacked tbh but just paid in cash. I only asked for the credit because they had some kind of interest free offer on and I though why not?

Never ever been refused credit anywhere else..............

MasuMara · 27/05/2017 11:53

Pretty simple really. You're already owing money out (regardless of no missed payments) .., lenders view you as "credit hungry" and unable to live within your means.

if you have a joint account or mortgage with your ex then they will look at his credit too.

Credit score is meaningless. It's just to give you an idea of how you might be viewed by a lender.

MasuMara · 27/05/2017 11:56

Maybe your useless - STBX has mucked up his credit rating and as you have an address in common your rating gets hit too.

Completely wrong. An address does not impact you. I could move into somewhere where the previous owner was made bankrupt. It will not impact me, as the debt isn't in my name.

The only way another persons credit impacts you is if you are financially associated with them (joint current account etc)

Original poster

theduchessstill · 27/05/2017 11:57

Pretty simple really. You're already owing money out (regardless of no missed payments) .., lenders view you as "credit hungry" and unable to live within your means.

Well if that is how all lenders view things it beats me how anyone ends up in the levels of debt that people do. Or why credit card companies routinely inform people that they've raised their limit without being asked to. They'd be out of business if no one 'lived beyond their means' as you call it. I don't - I can meet at monthly payments with plenty left to spare. Once I know where I am financially I will throw all that at the cards and, assuming no expensive emergencies occur, I should be debt free within a year.

OP posts:

TheFrendo · 27/05/2017 12:05

MasuMara,

Does marriage count on its own as a finiancial association? I would have thought it would, as would co-habitation.

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