18 year old Son applied online for a loan from the Lloyds TSB, he?s had an account with them for 3 years and wanted to buy a newish car it was only for ?1000 , he got a 2 page letter telling him he had been refused and they could not offer an explanation as the results are based on a credit scoring system that the banks operate and he never past it End of letter.
Ok never mind we will go down the guarantor route for him so Pam heads into the bank the Lloyds TSB this morning, we have been with them for 25 years and is told, sorry we don?t do guarantor loans any more so your son still can?t have his loan.
But this is the best bit, she then tells Pam he can have a credit card but he has to spend on it then pay it off and after 3 months we will give him a loan, ok correct me if I am wrong here but do I not turn on the TV day after day and the news is about people running up credit card / store card debts, the repossessions rates are at an all time high and they offer him a credit card but not a loan.
So off to the Halifax and Pam is told the same thing, sorry no loan but he can have a credit card not a problem.
Am I missing something here? What a bunch of :wank: so needless to say son not getting a loan. But he can run up credit cards debts no trouble.
Ok never mind we will go down the guarantor route for him so Pam heads into the bank the Lloyds TSB this morning, we have been with them for 25 years and is told, sorry we don?t do guarantor loans any more so your son still can?t have his loan.
But this is the best bit, she then tells Pam he can have a credit card but he has to spend on it then pay it off and after 3 months we will give him a loan, ok correct me if I am wrong here but do I not turn on the TV day after day and the news is about people running up credit card / store card debts, the repossessions rates are at an all time high and they offer him a credit card but not a loan.
So off to the Halifax and Pam is told the same thing, sorry no loan but he can have a credit card not a problem.
Am I missing something here? What a bunch of :wank: so needless to say son not getting a loan. But he can run up credit cards debts no trouble.