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Refused a rabo credit account? Credit rating?

  • 14-08-2008 8:24am
    #1
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,475 ✭✭✭✭


    Yesterday i decided to apply for a rabo credit account, thought it would be handy to have, as i may be getting engaged soon etc and if i needed a bridging amount between when i pay and get my bonus it would be handy and i could pay it off without any of the usual hassle when you have a loan.

    i earn a good salary, own a home and pay a mortgage and have a car loan, i have no credit card balance at the moment or other significant outgoings.

    so i was refused, ive never been refused a loan in my life. i called this morning to enquire and was told the underwriter believes im sufficiently committed with my existing borrowings. My car loan and mortgage payments equate to 37% of my next monthly base salary.

    it doesnt really matter, i have a 10k facility on my visa that i can use if i wish, the idea of the credit accounts just appealed to me, but im wondering now, does this rejection affect my credit rating?

    im a bit confused by the whole thing to be honest, i got the refusal almost immediately?

    anyone else applied for one


Comments

  • #2
    JB1
    Closed Accounts Posts: 59 ✭✭JB1


    Hi,

    the rejection will not affect your creditrating, however, if you apply for another loan in the future it will be on the Credit scoring system. banks are currently very resistant in handing out credit facilities, hence the no...


  • #3
    unclebill98
    Registered Users, Registered Users 2 Posts: 3,816 ✭✭✭unclebill98


    JB1 wrote: »
    Hi,

    the rejection will not affect your creditrating, however, if you apply for another loan in the future it will be on the Credit scoring system. banks are currently very resistant in handing out credit facilities, hence the no...

    This is correct.

    It means when you apply for another loan the Bank will see that Rabo ran the last search on you. You might get asked why Rabo did this and the outcome from it.


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