Sharon McDougall - Updated - 22nd April 2024 - 3 minutes to read
*Please note, we cannot give provide financial advice in relation to credit applications and credit scores. At Scotland Debt Solutions, we offer support to individuals managing personal debts over £5,000.
When credit card companies make a decision about you as a potential customer, they use the information on the application form to assess your credit-worthiness, and establish the most appropriate level of credit to offer.
This type of information includes your employment position, incomings and outgoings, and your previous history of debt repayment. They will view your credit file and other information to assess the risk you pose to them, and make a decision about whether to grant your application.
The banks’ lending criteria has tightened in recent years, making it more difficult for consumers to borrow. If you have previously struggled to obtain a loan, or suspect that your current income level is not high enough to be granted a credit card, you may be tempted to lie on the application, but this is bad idea.
Lying on a credit card application is illegal, and you could face prosecution for fraud if it comes to light at a later date, or you find yourself unable to keep up repayments. You are providing false information about your personal and financial situation, facts on which credit card providers rely on to make decisions that protect themselves from risk.
Get a rough indication of what your repayments might be under each of our different debt solutions.
What is required on a credit card application?
A credit card application requires you to provide various forms of financial and personal information, including salary, employment status, and details of your monthly outgoings. So how can deliberately providing false information affect you?
One of the main parts of a credit card company’s due diligence process when assessing your suitability is to check your credit file. All your current and outstanding debts are listed in this credit report, so if you lie, it will be obvious to the provider.
Being unemployed means you are not eligible for a ‘standard’ credit card, so you might be tempted to lie about your employment status on an application form. The problem is that if your application is successful, you are likely to face unmanageable debt very quickly, even if you are in receipt of state benefits.
Credit card companies do not offer cards to anyone under the age of 18, and some are reluctant to offer credit to people over 65. As your date of birth is included in your credit file, providers can quickly check this information.
Using someone else’s details on your credit card application is identity theft, carrying with it hefty financial penalties and potential prosecution for fraud. Even if it is done with the other person’s knowledge, it is a serious issue that will affect other areas of your life.
We have been helping Scottish residents to escape debt since 1989, and offer an initial meeting free-of-charge.
Sharon McDougall
Manager
We all want to save on our household bills and have more money in our pocket for the fun things in life. While bills are an unavoidable fact of life, here are some ways you can help to reduce them:
If you’re trying to deal with overwhelming amounts of debt, you may be eligible for the Debt Arrangement Scheme in Scotland.
If you are currently working on reducing the amount of debt you have, improving your credit score may not be at the top of your agenda.
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Sequestration is the Scottish version of bankruptcy and may be suitable for you if you do not have the money to pay back your debts
Find out MoreA Trust Deed involves making a monthly contribution to your debts for up to four years. After this time any remaining debt included in the Trust Deed will not need to be paid.
Find out MoreA Debt Arrangement Scheme (DAS) lets you pay off your debt through a series of manageable instalments over a reasonable length of time.
Find out MoreWhether you are a sole trader or a limited company director, we can help you work through your current financial problems including money owed to HMRC
Business DebtsOur Insolvency Practitioners are regulated by ICAS or the IPA and our firm is authorised and regulated by the Financial Conduct Authority
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