V12 Finance Rejection

[rs3100]

Anyone else have a problem with getting finance from V12 this year? For some unknown reason, a reason that they won't disclose to me as it breaches data protection, I have been rejected.

My only debt is my mortgage, I have no credit card debt, or loans, my credit history is spotless, I am employed on a permanent contract earning upwards of £37k with a secondary income, and the only monthly payment I make (outside of insurance etc...) is for my current season tickets (via V12) - and all V12 will say is check your credit history. Bunch of pricks!!

I'm lucky in that I can, and have just, move some money about and pay it upfront, but what about those who can't afford to do that? and have no reason for rejection, and no recourse.

[Colonel Cærdiffi]

This sort of thing really bugs me, when you seem to have no recourse.

Yesterday I tried to pay for Google Ads with my business Paypal Mastercard but they wouldn't accept it, it just said "refer to merchant" or something similar. I call Paypal and of course they have no idea why Google wouldn't accept it, and anyone that's tried to contact Google will know what a fruitless endeavour that is so you're just left blowing in the wind with no explanation.

[tigerbaybluebird]

I've got a terrible credit rating, and I've always been accepted, I was even accepted before v12 with zebra finance


It's a weird one your case mate as I thought everyone would be accepted for the monthly payments.


I'd try again if I was you

[rs3100]

I've got a terrible credit rating, and I've always been accepted, I was even accepted before v12 with zebra finance


It's a weird one your case mate as I thought everyone would be accepted for the monthly payments.


I'd try again if I was you

I'd never been rejected previously, the only thing I can think that may be the reason is a house move in December. I've paid upfront now anyway.

[Barry Dragon]

My only debt is my mortgage, I have no credit card debt, or loans, my credit history is spotless, I am employed on a permanent contract earning upwards of £37k with a secondary income, and the only monthly payment I make (outside of insurance etc...) is for my current season tickets (via V12) - and all V12 will say is check your credit history. Bunch of pricks!!

Sounds like it could be not enough credit history. No debt, no monthly payments, not enough record of you paying anything. You need more of a credit history, a spotless one doesn't make a good one. You need to have regular monthly payments going out to build a credit history.

Could be worth getting a free trial with experian to see what is the issue.

[Barry Dragon]

I'd never been rejected previously, the only thing I can think that may be the reason is a house move in December. I've paid upfront now anyway.

That could be it. I got rejected for a credit card after a house move. Same bank aswell. Credit agency thinks you could be taking on too much debt.