Anyone fed up with the secrecy around lending decisions, including from Monzo?
Is there any reason preventing lenders from clearly disclosing the lending criteria, so that people can tell with certainty whether they’d be eligible, instead of relying on snake oil & black magic like fake credit scores?
Something like “you need X monthly income, have no more than Y% of that as credit elsewhere, and so on. Sounds like a good fit? Apply now!”.
Surely this would benefit both the lenders and their customers, since they will be able to find each other better and do business more efficiently.