Stop wasting time on credit rejections – there’s a fast and easy way to know where you stand www.MyCreditZoo.co.uk

31 May 2005

Today marks the launch of a free online service designed to help consumers avoid applying for credit cards and loans for which they are likely to be rejected. Instead www.MyCreditZoo.co.uk helps consumers locate a credit card or loan that is suited to their personal circumstances and credit profile.

In today's fast-paced society, filling in an application form and waiting weeks for a response, only to be declined credit, adds real frustration to one's own money management. Studies show that seven out of every ten initial applications for personal credit are declined by lenders everyday*.

In response to a clear need to make the process quick and convenient, www.MyCreditZoo.co.uk will instantly deliver information on the credit card and personal loan options that are appropriate for their circumstances. The site looks set to significantly change the personal finance industry by speeding up the process, and reducing the time, effort, embarrassment and frustration often experienced by consumers who are seeking credit.

www.MyCreditZoo.co.uk works by asking consumers a number of personal questions and credit scores them online enabling them to be matched up with the individual lender's approval criteria. It then instantly lists which credit card or loan companies and exactly which brands are most likely to accept a full application. Users can then click directly through to apply online.

The service is clever, quick and best of all it's free! Even consumers without a perfect credit history are still able to access credit facilities from selected lenders. By using www.MyCreditZoo.co.uk, these consumers can quickly identify which credit providers are able to help.

www.MyCreditzoo.co.uk aims to help promote the responsible use of credit. Therefore the service provides full details of each product including interest rates, fees and special terms - the all important 'small print', so consumers can be better informed before they make a credit decision.

The service also enables consumers to access sister company Callcredit's www.mycallcredit.com to purchase their full credit report online, for a one-off fee. With identify fraud on the increase, many consumers find peace of mind in regularly viewing their credit report and monitoring their current credit status.

John Dobson, Managing Director of EuroDirect, which operates the service, says: "www.MyCreditZoo.co.uk will help reduce the time, effort, embarrassment and frustration usually associated with applying for credit. At specific times everyone needs additional credit and often we need a quick response, perhaps to seize a good deal on a car or a holiday or to further our home improvements. By using www.MyCreditZoo.co.uk, consumers can instantly identify which cards and loans they're likely to be accepted for - giving them the confidence that they'll get the cash in their wallet when they need it!"

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