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Bank refusing to give me a Loan

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MaxE
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15 Jan 2024, 11:31 am

goldfish21 wrote:
MaxE wrote:
CheddarBetter wrote:
I had the same thing happen. My credit wasn't as good as I thought, so my bank said no. Banks look at your credit score, how steady your income is, and if you owe much money compared to what you make. One of these may be why they said no.

You could ask the bank manager for more information and tips on the next steps.

When I needed money, and my bank said no, I used this app https://apps.apple.com/us/app/payday-loans-bad-credit-app/id6447189596. Getting a loan was easy and quick, even with my not-so-great credit. Applying only took about 10 minutes, and they approved me super fast.

What sort of payments have you been making? Has any of the principal been paid down?

I wouldn't be surprised at all if that's a spam account advertising payday loans.. the bottom of the post reads like an ad and they have very few posts.

Very few posts indeed, but the account was created over 3 years ago, and those few posts seem thoroughly legitimate. More likely, the account was highjacked because its owner was possibly careless with their password etc. Otherwise, I would say they've been taken advantage of, and need to pay off whatever loan they got, ASAP.


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nick007
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15 Jan 2024, 2:30 pm

These days lots of loan & credit decisions are not reviewed & made by actual people & are instead determined by computer algorithms. The computer analyzes the various info from your credit report that has already been mentioned & then makes a decision.


Radish wrote:
Banks tend to work on the principal that if you are well off and don't need a loan they will keep offering you loans as you are a good bet for paying it off and the bank earning interest. If you aren't well off and need a loan they aren't inclined to give you one as you are more of a risk and less likely to pay it back.

So the solution is simple. Become wealthy, then the banks will offer you lots of loans. :|
Typical catch 22 situation. It's usually a lot easier to get money when you already have a bit but if your very poor you can not get access to needed money to become wealthier & break out of your rut.


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