What to Do If You Get a Refusal on a Loan or Credit Card?

Know the Actual Reason for Refusal 
If you have been turned down for a credit card or loan, the loan or credit card firm need to tell you if you were refused because of a search onto your credit file. In this case, they must inform you about the credit reference agency they’ve used for you. You may ask the reason for refusal however don’t expect them to provide you with a detailed explanation.
Nevertheless, mistakes may occur. In case you happen to spot any error, write to your credit reference company & request them to fix it right away. Ensure that you add a clarification of why it’s not correct along with any proof you might have. The company has the period of 28 days to reply. The applicable details within your credit statement would be stated as ‘disputed’ whilst under investigation.
Avoid applying again and again
Multiple applications within a short time period might make financiers think you’re too desperate for money which could impact your credit score further. 
How to Proceed?
1. If you want to borrow cash for paying off other dues
A free debt consultant can offer you with all the necessary assistance in this case. 
2. If you would like to fund for an acquisitions & are ready for repayments
For this, it is best to check your credit score by observing your credit report. To do this, all you need to do is simply purchase a one off report or subscribe to the full-credit report service.
It is also worth to take into account your present financial situation.
In case you’re already under a big debt & struggling to make repayments, talk to somebody about them. You can find several organizations which offer confidential and free debt guidance both online as well as offline.
Alternative borrowing:
Below are some additional options for loans & credit cards.
Credit unions
Lenders of previous resort
Some Last Resort Finance companies:
Budgeting loans via social fund
Cash for gold 
Door step lending or home credit 
Pawn brokers
Loan sharks

Apply for Car Finance

Get Started on the Road to Car Finance.

Apply Now
Article Categories
Recent Posts
How to Get A Car With Really Poor Credit

Finding a car when you have been refused finance or have really poor credit.

More Info
Cutting Car Finance Costs

If you're struggling to meet your car finance payments, or want to cut costs, you can exit the agreement early or return the car. However, there are some conditions and fee's attached. Make sure you don't rush into any decisions before you know the conditions.

More Info
How to get car finance with bad credit.

Identify and fix problems with your credit report, Make sure you have your full credit history,

More Info
Top 5 Budgeting Apps

Five fantastic apps to help you budget your money better

More Info
How to Become Debt Free

In order to become debt free, you need to take a stock list of your debts. This means confirming the balances

More Info