Hello. I was very ill for awhile and my credit did take a dip, I went for a secured loan after I had paid off all of my credit card bills, except for 1. I was denied a secured loan, even though I had the money to secure in my savings.
So, I asked why.
No mind you, I had another secured loan with TD bank which I paid off a year and a half early- no joke.
I was told because my account was left to a family member in case I died. Which is normal, I do not want them to go through hell to bury me.
It was the first time too, i explained.
Then I received another call and was told that it was my credit.
I explained that I understood that my credit was subpar, but it is a secured loan and I am giving you the money up front. I also said that I had just paid back my first loan 1.5 years early.
Then, I received yet another call and was told that I had applied for the loan at a branch, therefore, that is why i was accepted before, but the corporate end is more strict.
I said that they are one bank- not independently owned.
Bottom line folks, TD BANK sucks. They are great at taking your money and if you are a good customer with them- they will turn their back on you.