credit refusal - reasons?

[HarlotOTara]

Hi have just been talking to my friend who applied for a loan and has been turned down, has had an ongoing loan for a long time and wants to top up. She has never defaulted on payments for anything, has a couple of credit cards - not up to limit. No problem with meeting the monthly repayment. Neither of us can understand how she has been turned down apart from the fact her dh has been late with credit card payments due to not being paid on time (self-employed). Would this make a difference? Are credit searches against an address and other co-habitees?

My dh was a victim of fraud some years ago which was a pain to sort out and affected his credit rating and necessitated loads of letters from bank, building society etc. to Experian (sp) but I don't remember it affecting me at the time.

Anyone got any advice?

She needs to do a credit search to be honest. If she has a lot of credit already then this could have been flagged up maybe? It's difficult to say.

If her husband has a bad credit record, it could potentially affect her rating. Agree that she should get her credit search done by one of the companies offering the service.

Thanks is that something like Experian? I do remember looking at my credit rating on there when we had the fraud problem.

Experian is one. If you're sharp about it, you can give them your card details to join, have a look at the report in your one month free trial period, and then cancel your membership before they take a payment.

Your DH's credit status should be separate to yours unless the bills are in joint names and then you are both laible. This is my undersstanding but I am no expert. I was turned down for a mobile phone contract cos I hadn't lived at my address long enough (less than 6 months)

Credit has changed. The people who have turned her down should be able to give a her some idea.

Even though she is not up to her limit on her cards, available credit is looked at, ie she may be able to afford everything now but if she went up to her limits could she?

Was the loan in joint names?

Has she applied for any other credit recently?

Was the top up loan with the same people as her current loan?

Cogito thanks will pass that tip on - wasn't expensive when I did it however.

LoveBeing loan top up is with the same people, loan separate and no idea if she has applied for other credit but don't think so.

is she on the electoral roll? DH wanted a loan to buy a bike a few years ago and was shocked to get turned down as he had a really good salary and no credit problems that he was aware of. Turned out it was because he wasn't on electoral roll. He had just sold the house he owned before we married and wasn't yet on roll at my house.

DH & I were turned down for opening a current account with a local BuildSoc. They would only refer us to Experian who turned up NOTHING that looked wrong or a likely explanation. We have loads of "good" credit history on our reports.

As near as I could tell we were refused because I was not on the electoral role... because at the time, I was not a British citizen . Have lived here 20 yrs & have loads of other credit history, but that one thing seems to be only explanation.

I reckon that if they are that bloody minded about it, they are stupidly minded about any petty thing.