Do finance companies consider previous conduct?

[robfosters]

Do finance companies consider previous dealings when it comes to finance?

If you have an average credit record but have had completely trouble free finance before with them and paid up on time every month, do they take this into consideration when reviewing your application?

 

[TheStarkFactor]

Do finance companies consider previous dealings when it comes to finance?

If you have an average credit record but have had completely trouble free finance before with them and paid up on time every month, do they take this into consideration when reviewing your application?

Unfortunately it all depends on the company, no two finance companies are necessarily alike, they will all have their own lending criteria so it is difficult to say.

I'm sure having a robust credit history with a specific lender will help, but if your rating is 'average' as a whole then it really comes down to whether that lenders criteria fits with your specific circumstances.

 

[eatcustard]

You will end up paying more in interest, but as Stark said every lender is different

 

[tom_e]

I'd say it's quite probable as it's usually easier to get loans and cc's from your bank as they have some idea on how you manage your money better than a company you've never dealt with.

 

[TheStarkFactor]

You will end up paying more in interest, but as Stark said every lender is different

+1 to interest.

Depending on the type of credit that you're after, you could approach lenders that use soft searches so that your credit rating isn't affected and you can get a pretty good idea whether you will be accepted or not.

Try the MSE tool at the below link. It will assess your eligibility, use soft searches and tell you which products you are most likely to be accepted for without affecting your credit history.

https://www.moneysavingexpert.com/eligibility/credit-cards/