Are you having the Mobicred application declined issue? It’s something that can happen to anyone. Mobicred is probably the best online credit company in South Africa. You can get a loan that allows you to buy online from over a thousand outlets. Applying for a Mobicred account can be done online. In most instances, your application will be accepted. But what causes some applications to be declined and what can you do to remedy the issue?
Why does Mobicred decline some applications?
There are a number of reasons why Mobicred sometimes declines applications. It usually happens if a person is deemed to be too risky to give credit to. Perhaps you have a bad credit score.
Your application can also be declined if it is determined that you cannot afford the amount of credit that you have applied for.
Like all the other financial institutions in the country, Mobicred is required by law to ensure that it is only lending to people who can afford to pay back.
What do do if your application has been declined
Unfortunately, when your application has been declined, it’s almost impossible to reapply for a Mobicred account. What you can do is to look for alternative online lenders.
Do keep in mind, however, that the reasons why you were declined will actually be very valid reasons. If you have a bad credit history, it’s probably time for you make sure that you are not taking out loans that you cannot afford.
If your application far exeeded your means, you will want to make adjustments. A lot of people in South Africa get into trouble after getting loans that they cannot repay within the specified time frame. That can put a huge dent on your ability to get credit in the future.
So, you may want to step back for a moment. If you cannot afford a loan, stay away from any lender. Otherwise you will find yourself struggling in the future.
In this article, we discussed the Mobicred appliation declined issue. It was noted that this can happen for a number of reasons. Perhaps you have bad credit score or maybe you have other issues that have been noted in your application.