Application Decline reasons

Why was my application declined?

There are different possible reasons as to why your application for Finance may have been declined.

We have to be able to validate that:

• applicants show as registered at the address on their application form
• we can verify an applicant's date of birth
• applicants are employed and have sufficient income

It's worthwhile checking that you are on the Electoral Roll (your local Council will be able to help you with this) and that any official records show your correct date of birth.

Also, we use Credit Reference Agencies to assess the creditworthiness of our potential customers. 

Because Credit Reference Agencies calculate credit scores in ways that are not publicly known, there are many factors that could impact your score, such as your payment history, the amount of available credit that you have used, the length of your credit history, and the number of accounts you have recently opened. 

Over time, your credit score can change, so we hope that even though we couldn't help you this time, you will consider using us in the future.

Our application process should let you know why we weren't able to approve your loan application but if you have further questions, you can always reach out to our Support Team at customers@tabeo.co.uk.

The most common reasons for a declined application are:

• Minimum affordability requirements have been not met
• We couldn’t verify the income you listed on your application
• You’ve indicated that you are unemployed or a student
• Minimum credit profile requirements have not been met