A refusal of credit is unpleasant but there is necessarily a reason ...
The first thing to know is that the banker is absolutely not obliged to tell you why he is refusing this loan. There may even be several reasons for refusing you a credit or an overdraft authorization!
By reflecting, you can certainly find the reason for this refusal ...
3 main reasons that we are going to detail can be at the origin of the refusal:
This file (created in 1989) is managed by the Banque de France and collects information on bad payers from banks, credit organizations and the Post Office. If you have had payment incidents or abused your bank overdraft authorization , you have every chance of finding yourself on file! The duration of the carding has been reduced to 5 years. But if you still have incidents, your bank may not lift the filing.
Very important: if your file is refused for this reason, your banker must tell you. This is the only time you will have the information!
To find out who registered you , simply go to a Banque de France branch with your document. ID, or write to them with a photocopy of both sides of your ID.
The banker or the credit institution may refuse your request because he judges that your debt ratio is too high . That is, your monthly expenses are too high compared to your salary. Needless to say that you are staying for free with a friend or family and that you do not pay rent, or that you have a moonlighting job… that would only worsen your case!
Please note: each establishment has its own budget criteria . The same request can therefore be refused by establishment X and accepted by bank Y or vice versa ... The famous 30% debt not to be exceeded is not an immutable rule, and it is really your budget (revenue - charges) which is taken into account.
Rest assured, it is not a question of physique ... the profile we are talking about here is budgetary , family or salary .
Each organization has developed its own statistical calculation methods to determine in advance if you are at risk of having trouble repaying your monthly loan payments.
This calculation can take into account many criteria such as age, bank, level of study, number of children, profession, seniority in the sector and budget ... In short, your whole life is underweighted and you get a note: it's scoring .
There too your file can be accepted by one bank, and refused by another ...
If you think it's your budget or your profile that is too tight, you can simply try your luck at another establishment ! But be careful, you have to be logical and if your budget is totally unbalanced or you are unemployed, it will be pointless to try elsewhere, the negative answer will be the same!
As the banking sector has regrouped strongly in recent years, the same rules (the same score ) are applied in some banks and credit institutions. Thus, if your credit has been refused at LCL, there is every chance it will also be refused at Sofinco (same group) ... When you experience a refusal of credit in one group, you must try your application in another . .. To help you see more clearly, here is a summary table of the groups (updated in June 2016) ...
|Group A||Group B||Group C||Group D||Group E|
|BNP Paribas||Agricultural credit||Mutual credit||Societe Generale|| Younited Credit|
(ex Union Loan)
|Banque Populaire banks||LCL||Paydaychampion||Franfinance|
|Savings Bank||Sofinco||FLOA bank|
To use this table it's simple, if you are refused by a company of group B and C you can make a new request in groups A, D, or E ...
Please note, this is absolutely no guarantee that the credit will be accepted !
Think about your request and your situation anyway: if you have been refused, it is certainly because the credit company has detected a weakness in your file .
If you are registered with the FICP, all your requests will be refused by the French banks because if they granted you a credit they are the ones who would be at fault!
Beware of establishments which very easily accept credit files , without supporting documents, or with a dilapidated budget ... their rates are generally higher than those of the competition. You get your credit but with a rate bordering on usury!
If in doubt, postpone your project and wait for your situation to improve ...