Of course, it's disappointing for an application to be turned down. In this guide we'll explain why, and how to take actions which may improve your credit eligibility.
To be considered for a credit account with us, you must be a UK resident, aged 18 or over.
Lending is based on a number of factors:
Your credit history
During the application, we review the information you provided and carry out a creditworthiness assessment, which includes checks with credit reference agencies (CRAs).
CRAs securely hold information about you and your financial history, which influences your credit score.
This information is used to help us make a lending decision. Sometimes, if your circumstances do not match our lending criteria, the results mean that we're unable to provide you with a credit account.
! The importance of your credit score!
There are many reasons why your credit score is important, along with various benefits of having a 'good' credit score. These can be found here:
Check with CRAs
When applying for credit, you can check the details held by each CRA to ensure they're accurate. This will also allow you to assess your current credit position.