Our Decision Explained

Evaluating applications for credit

To help us comprehend whether to furnish you with credit and to guarantee dependable loaning, your own circumstances are

considered. To do this, every application is surveyed utilizing a framework called credit scoring.

How credit scoring functions

Credit scoring is utilized by most major money related associations in the UK to help them choose whether to offer credit to a client.

All Post Office Money Loan applications experience a standard credit scoring process, which settles on a choice taking into account a

mix of the data you've given, our loaning criteria and data got from both Credit Reference and

Misrepresentation Prevention Agencies.

Credit scoring works by taking every one of this data and giving each important point of interest a worth (or 'score'). When all the person

values have been included a last score for your application is delivered. In the event that this score achieves a specific level, set inside

by the Loan supplier, then an application for credit will for the most part be acknowledged. On the off chance that your score does not achieve this level then an

application for credit might be declined.

Why credit scoring is utilized

Credit scoring is a robotized procedure that permits every application to be evaluated in an unbiased and predictable way,

guaranteeing that all clients are dealt with decently. It likewise helps a monetary association to meet their legitimate and administrative responsibilities

as a capable moneylender.

Each application for credit incorporates a specific level of danger, regardless of how dependable and mindful a client is. Credit scoring

permits monetary associations to comprehend the level of potential danger for every individual candidate, and if the danger is too high

at that point an application won't be acknowledged.

Why your application might be turned down

On the off chance that your application is turned down it basically implies that, taking into account the data accessible:

• Your general FICO rating was not sufficiently high to pass the required edge; or

• There might be data held at the Credit Reference and/or Fraud Prevention Agencies which has been translated as

negative; or

• Your application might not have met one or a greater amount of the particular application necessities. For instance, you won't be

furnished with credit if your yearly wage (barring unemployment advantages) is under £12,000.

Engaging a choice

On the off chance that your application is declined, you have the privilege to claim the choice, despite the fact that there is no insurance that the result will

change. You can ask for an advance by calling Customer Services on 0800 169 2000 or by keeping in touch with us at the location underneath.

You will for the most part be requested that give extra applicable data to bolster your allure, for example, duplicates of

bank articulations.