Can I put a block on my own credit applications?

Dear James,

I am a professional in a well paid job - I know, lucky me. I do however have little or no willpower when it comes to getting a loan or a credit card! Is it possible to place a note on my credit rating/score saying "do not offer this man a loan"? I would rather do something like this rather than defaulting on my mortgage.

Nick, Tewkesbury

Dear Nick,

Yes you can certainly do this! You have the right to add a 200-word note to the information on your credit report and you could use this to ask lenders to refuse any applications you make for credit. Having a note on your credit report will certainly put the scuppers on any instant credit decisions because it will mean that an application would be referred to an underwriter – causing a delay – and they would then see your note. Of course, you’d be free to get in touch with us at any time to remove the note, but I suspect what you’re looking for is a deterrent against future impulsive behaviour and in this respect I think your plan might just work. (March 2012)

James
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