Need a hand?

Just pop your question below to get an answer.

Topics
Personal · Credit and loans · Loans

Declined loan application

Understanding declined applications

Loan applications can be declined for a number of reasons depending on our internal lending policies and your individual circumstances. This may include your income, expenses, credit rating, or failure to meet our eligibility criteria.

We're unable to provide specific reasons as to why an application was declined. We follow a set of guidelines to ensure responsible lending according to local regulations, but we can't disclose which rule applies to each rejected case.

If your application was declined, our Customer Support agents won't be able to provide further details of why it was rejected, or accept additional documentation. If you need to correct information provided or your conditions change, you have to submit a new application.

Common reasons an application may be denied

  • You're either unemployed in Ireland and/or we couldn’t confirm regular income payments. We require at least three months of consecutive income payments from the same employer in the linked bank account (Revolut, AIB, Bank of Ireland, or Permanent TSB)
  • You don't have consistent income, or if you do, it isn't sufficient to comfortably cover the loan payments along with your other expenses and financial obligations
  • Your CCR report (Central Credit Report) has been returned as unsatisfactory
  • You don’t meet our basic eligibility criteria (age, an Irish or UK mobile phone number linked to your Revolut account, permanently living in the country, etc). To learn more about eligibility, visit this FAQ

Can I reapply if my application was declined?

If your application was declined, we don't recommend applying again unless your circumstances have changed or the previous application information was incorrect.

If you've corrected your previous information, allow at least 48 hours for the system to update it before submitting a new application.

We have a limit of failed application attempts, after which your applications might be automatically rejected. Therefore, if you apply and get rejected more than once, we recommend waiting at least 30 days before applying again.