Finance from Dell

J

Jamjam

Registered User
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I need a new notebook. I applied for dell finance. I was rejected. He says the finance company never gave a reason. I have excellent credit rating. It appears that I earn good money (about 56k last year) and have a steady professional job. I could have bought the notebook out right but wanted the finance for certain reasons. As a result i'm not buying a dell now and am buying elsewhere....without finance! My pride is hurt!

Can i find out why i wasn't given the finance?
Anyone else experience the same?

Thanks and apologies if this is in the wrong place ....usual excuse....I'm new and am unsure
 
Strange as it may seem, maybe it is because you have an excellent credit rating that they turned you down. I have said this before, but people don't believe me, but certain finance companies don't like borrowers who redeem loans early-have you ever done this?

Anyway, how do you know you have an excellent credit rating? Your credit rating depends on the finance company that is doing the scoring, and scoring methodologies vary depending on who is doing the scoring. The scoring will be based on the information you provide in your application and on information received from the Irish Credit Bureau (ICB). It may be worth your while:

1. Writing to the finance company in question to ask why you were refused;
2. Writing to the ICB to get details of your credit record (even a late cc payment made 2 years ago could be considered a 'black mark').

Apart from the fact that their may be unknown black marks on your credit record, I wouldn't lose much sleep over it. I'm pretty sure any finance deal sold by Dell isn't the most competitive anyway.
 
Check your credit rating with the Irish Credit Bureau. Do a search on google. If it shows up anything that should not be there, get the financial organisation that put it there to remove it.

Post crossed with CCOVICH
 
ClubMan said:
At 17.9-22.9% APR they're probably doing you a favour by refusing you credit!
Click to expand...

Thanks a mill. It was my pride more than anything. I just couldn't believe it. I will check credit rating out too. There shouldn't be a black mark there but I guess mistakes can be made. I have paid loans off early in the past too.

I'm glad I didnt get it now!

Thanks again

J
 
Sometimes companies use a scoring system to determine whether or not to give credit, which can produce some quirky results.

Take an example of someone who has just obtained a new job paying a higher salary than their old one, allowing them to move to a more expensive house. You would think this person's credit rating would be better now than before. Not necessarily so! The fact that they have moved house and changed job could count against them. Scoring systems usually take into account length of time with current employer and time lived at current address. If one or both of these are low then an individual could end up being refused credit, even though they might technically be better off than they were before!
 
Jamjam said:
I need a new notebook. I applied for dell finance. I was rejected. He says the finance company never gave a reason. I have excellent credit rating. It appears that I earn good money (about 56k last year) and have a steady professional job. I could have bought the notebook out right but wanted the finance for certain reasons. As a result i'm not buying a dell now and am buying elsewhere....without finance! My pride is hurt!

Can i find out why i wasn't given the finance?
Anyone else experience the same?

Thanks and apologies if this is in the wrong place ....usual excuse....I'm new and am unsure
Click to expand...
At least you got a response . . . I applied 3 weeks ago, and 3 phone calls, 6 emails later, I am none the wiser. I assume the finance company turned me down (did have some arrears about 4 years ago which would still be on the record), but nobody is actually telling me that, they just haven't bothered telling me if that it is the case. Be thankful that they haven't left you in limbo for the last few weeks.

I too will be buying my laptop elsewhere and giving no future business to Dell.
 
Hi llf12. thanks for your reply. I'm glad someone is in the same boat as me! The thing is, I have tried contacting Dell and the finance people to find out why I have been turned down. I haven't any debts....just the usual credit card bill and overdraft at end of month! Is there any way we can find out??
 
Its the same as if anybody else turned you down . . . you don't have the rights to find out why, but sometimes they will tell you if you ask. You could call the switchboard in Cherrywood and ask to be put through to Dell Financial Services, who might be able to shed the light, but I doubt they can tell you why. Financiers have a right to keep their credit scoring methods to themselves, for obvious reasons.

As for my case, I don't actually know if they turned me down for finance, as my order vanished into the ether and nobody can tell me anything other than the fact that the order hasn't been put through for processing.
 
lff12 said:
Its the same as if anybody else turned you down . . . you don't have the rights to find out why.
Click to expand...

That's not true! You have the right to know why. Just ask for all the info they have on you under the Data Protection act. You will then know why you were refused.
 
They don't have to explain their reasoning to you, though they do have to show you the data they have on file.
 
Almost certainly not - They are generally smart enough NOT to keep a record of their reasoning on file specifically to avoid having to give explanations in situations like this.
 
I'll tell you a little story so. Many years ago a certain bank turned me down for a loan, whilst every other bank said yes. I asked for the file under the DPA and saw on it the reason for refusal. They were not very subtle tbh.
 
Does the DPA still only apply to electronic files but not to hardcopy/paper files which used to be a way around it?
 
Like you say, "many years ago".....

Clubman - The DPA was amended a couple of years ago to apply to paper records also.
 
Well I am wondering why I have been refused even more so now after receiving ny new credit card from BOS. They gave me a limit of 1000euro. When I rang the customer service guy to ask for an explaination he said that it may be worth checking my credit rating as this determines the limit. Could there be a mistake on my credit rating? I have in the past paid off loans early but have never missed a repayment. What if there is a mistake? How can it be rectified? Not that i'd accept the dell finance now anyway but i don't want to have poor credit rating when I have nevr missed a payment. I did get approval for a pretty good mortgage on my own recently. Surely I wouldn't have got that if I had poor Credit rating. Sorry for rambling but I'm freaking with worry!
 
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