what is the criteria for giving out credit?

[Menon Enterprises]

does anyone here know what requirements do stores require from a customer before they give store credit...

 

[stephendoyle]

hi menon,

different stores and businesses have different processes.

most work on the following:

credit score

each question that you answer is given a score.

at the end of the application your score is totalled and
has to hit the lenders criteria in order to then either be
credit searched or given potential finance.

Credit Search

some companies will search the files of credit agencies to assess
your history with credit and find out what potential risks are there
if they financed your purchases ie. will they get their money back.

depending on what your looking to finance there are companies
who will give credit terms outside of the normal however; you will
be paying higher charges and interest.

hope this helps and good luck.

regards
stephen doyle