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This petition was submitted during the 2019 to 2024 Parliament

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Closed Require lenders to publish details of acceptance/rejection criteria

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I would like the Government to require all companies offering credit/loans to be transparent about their acceptance/rejection criteria.

The system used to assess the credit worthiness of an individual is often disproportionate, unfit for purpose and unclear.

Private companies can create unique requirements for acceptance or rejection of an individual without making it clear what that criteria they're being checked on is. Therefore, applying for credit is essentially a gamble. As a consequence of this gamble, rejection damages your credit score and decreases your likelihood of being accepted for credit even more.

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    If this petition gets 10,000 signatures, government will respond to it.

    If this petition gets 100,000 signatures, it will be considered for debate in Parliament.

    This petition will stay open until 30 September 2021.