We applied for finance through a bond originator between the 7th and 9th of Jan 2013.
On the 23rd of Jan 2013 we received feedback from the bond originator notifying us that we have been declined by FNB as our scoring was too low. FNB requested that a motivational letter be sent, which the originator did, but still no luck? We need our score to be higher?
We have several accounts with FNB, including an existing bond, and we have been loyal FNB customers for 7 and 16 years respectively.
Is it our fault that every person runs to ITC to 'check' your score, and just because they 'check' your score, your score/risk increases? To me that isn't a true reflection of being high/low risk? We are being penalized/declined based on "A Score", regardless of the fact that we have been loyal, reliable, supporting customers for so long?
So much for the slogan and advertising "How can we help you? " and "Move home, not your Home Loan". ABSOLUTELY DISSAPOINTED in FNB :-(
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