Credit decisions explained

Understanding credit decisions Practical tips for what to do now

Why can't I apply?

Different banks have different reasons and criteria for why they sometimes can’t lend money. If you’re thinking about applying again in the future, here are some practical things that could help.

Money in and out

We need to see that there’s going to be enough money coming in to cover the extra cost of credit repayments. It might be that you’ve more money going out of your account than coming in. If you have too many borrowing products with us or other banks, it can be difficult to pay back any new lending.

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Do you have a healthy credit score?

Credit scores are provided by three different credit reference agencies in the UK and they all assess your financial history. Your score impacts your ability to borrow money. A low score could mean that it isn’t the right time for us to lend to you. It can also mean your credit history is too limited. Making regular payments, for things like car finance or mobile phone contracts, could help to prove your experience of being a responsible borrower.

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Repayment challenges

Previous repayment problems could mean that you’ll struggle to pay back new credit. We look to see if you’ve missed regular payments in the past, or if you’ve been made bankrupt, or had county court judgements against you.

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Get started with helpful tools

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Credit scoring guide

Use our tips and tools to check your TransUnion credit score and see how you could improve it.

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Financial Health Check

Have you had yours yet? It could be good timing to get your free Financial Health Check with a senior personal banker. It focuses on your needs, goals and what you could do to achieve them.

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More support

Are you struggling and worried about your money? Have a look at our guide for ways to get in touch. We’re here to help.

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Appealing against the decision

You can appeal against a decision. But this might not change the result of your application. You need to make your appeal within 30 days of our credit decision. Include any relevant information that you feel supports your request.

Get details of how to appeal from your local branch.

Applying somewhere else

It’s worth remembering that each lender has their own lending criteria. Being turned down by one doesn’t mean you won’t be accepted somewhere else. 

Before you start, here are some things to be aware of.

  • If possible, use an eligibility checker tool before you apply.
  • Space out your applications. Lots of credit searches in a short space of time could affect your credit score. 
  • Previous credit searches about you may be kept on file. Credit reference agencies could keep the search we did about you. If other lenders use the same agency to check your credit history, they’ll be told about our search. 

Anything else we can help you with?