More likely to get a loan in branch than online?
Discussion
Odd question I know. My crdit rating isnt the best, but by no means is it the worst! Im after a small loan £2.5k to consolidate two credit cards), and was just wondering if Im better going into a branch of my bank rather than apply online. Can the managers in the branch manipulate the decision?
Im a home owner who works full time, so Im hoping it should be accepted, but just wanted to know if its better to apply in person?
Im a home owner who works full time, so Im hoping it should be accepted, but just wanted to know if its better to apply in person?
When I was in Retail Banking (late '90s) it made no difference as the application went through the same decision scorecard.
Every bank is different but I personally don't think it should make that much difference, however someone with more recent information may be along in a minute to correct me.
Where it might help is the bank employee being able to ensure the relevant information is on the application. For exmple being a home owner adds to your credit score, if you rented the house you live in but owned another house, you may put yourself down as renting on an online application, the bank employee may put you down as a homeowner and that (in theory) could be the difference between a pass or fail. In that example you would have been better off going to the branch.
If your credit score 'is not the best' (what does that actually mean?) then the chances of getting a loan in today's world are slim unless you go to a dodgy lender.
Every bank is different but I personally don't think it should make that much difference, however someone with more recent information may be along in a minute to correct me.
Where it might help is the bank employee being able to ensure the relevant information is on the application. For exmple being a home owner adds to your credit score, if you rented the house you live in but owned another house, you may put yourself down as renting on an online application, the bank employee may put you down as a homeowner and that (in theory) could be the difference between a pass or fail. In that example you would have been better off going to the branch.
If your credit score 'is not the best' (what does that actually mean?) then the chances of getting a loan in today's world are slim unless you go to a dodgy lender.
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