My application was declined. What now?

A decline usually means the loan wouldn’t fit your budget right now, or something in the checks didn’t match. It is not a judgement of you. You can ask us for the main reason, and for the name of the credit bureau we used if its information played a part.

Common reasons for a decline

Affordability

After your expenses and other debt repayments, the new repayment wouldn’t leave enough room in your budget.

Credit record

Recent missed payments, judgments or a high number of recent applications can count against a new loan.

Identity or bank details

Your ID, name and bank account details didn’t match each other, or the account isn’t in your name.

Missing information

A payslip or statement was unclear, incomplete or out of date, so income couldn’t be confirmed.

Other rules

You already have an active RandLeaf loan, or you are under debt review.

What you can ask us for

Under the National Credit Act, if you ask, a credit provider that declines your application must tell you the main reason in writing. If the decision was based on information from a credit bureau, you can also ask for the name and contact details of that bureau.

1. Contact us. Say that your application was declined and you would like the reason in writing.
2. Confirm your identity. We only discuss an application with the person who made it.
3. Read the reason. If it points to your credit record, the letter tells you which bureau to contact.

Check your credit report

You can get a free credit report once a year from each registered credit bureau. The National Credit Regulator lists the registered bureaus on its website. Check that the accounts, balances and personal details are yours and correct.

If something is wrong, you can dispute it with the bureau. The bureau must look into it and correct information that turns out to be wrong. Keep copies of what you send and what you receive.

When it makes sense to apply again

• Not straight away. If nothing has changed, the result is likely to be the same.
• After fixing what caused it. For example, after a mistake on your credit report is corrected, or once your new payslips are available.
• Not everywhere at once. Each application leads to a credit enquiry. Many enquiries in a short time can make lenders more cautious.
• Only if a loan is still the right step. If money is tight because of existing debt, more credit often makes it harder.

Where to get help

If you are behind on other accounts, read what to do if you are struggling. A debt counsellor registered with the National Credit Regulator can look at all your debts together. If you believe your application was handled unfairly, you can make a complaint.

Who to contact

Our phone, email and support hours are not yet published. You can also see every official channel on the contact page. If a message claiming to be from us looks wrong, check it against that page before you reply.