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How are applications assessed?

As responsible lenders, Smiths City Finance takes into account the personal circumstances of our customers, to help us establish the appropriate level of credit for them.

We include a process called ‘credit scoring’ as part of that process.

What is credit scoring?

A credit scoring system compiles all of the relevant information provided by the customer and other 3rd party credit reporting agencies. Points are allocated for each piece of relevant information, the sum of which produces a score.

The score is based on statistics and analysis from collected historical data, including reference to the information available from credit reporting agencies. The credit scoring process may be supplemented by further analysis by our credit professionals in some circumstances. A level of credit risk for Smiths City Finance is present in all applications irrespective of how responsible, reliable and honest the applicant is. Credit scoring contributes to the assessment of the amount of risk associated with each application based on the information available.

If the level of risk exceeds the level contained in our credit criteria, the credit application is denied. This doesn’t necessarily mean that the applicant is a bad payer or a bad person, but simply that based on the information we have available the application does not satisfy our credit criteria.

Credit providers have different lending policies for different finance products, and consequently you may experience different outcomes depending on the Credit provider and circumstances of your application.

Credit scoring contributes to our credit policy as an important objective component of the credit appraisal process that applies weighting across a collection of elements. Responsible lending is essential for both credit providers and customers -our credit application process assist us with that.

What happens when I make an application?

When you make an application for credit in a Smiths City store or online, your application will be sent through to the Smiths City Finance Credit Control team who will assess your information. Average response time is 4 minutes from the time the application is submitted to the time you are contacted.

Each application is assessed by a QFE accredited member of staff.

What if my application is denied?

If your application is declined we will give you all the information we can at the time of the credit decision. If you feel you want to talk to a member of our Credit Team for more information you are welcome to do so during standard business hours on 0800 764847. Alternatively you can send an email to which will be responded within 1 business day. We will endeavour to respond on the same the day of your inquiry, but you should be aware that during weekends when high volumes of credit applications are experienced our response may be delayed until the following week-day.

When contacting the team please have your name, address and phone number available.

If we can reassess your application with more details we will endeavour to do so.

Who can we give information to?

The data required for credit applications is detailed and often personal. We respect your privacy and your data is only used for the purpose of the credit application unless you expressly authorise us to do otherwise. This includes disclosing contact details to a 3rd party.

Smiths City Finance is part of the Smiths City Group and as such your data will be shared within that group for the purposes for which it was given – to purchase from Smiths City Stores.

Additionally every application form has a tick box for customers to choose whether and how they would like to receive pre-sale offers, promotional email, SMS and post messages or, to receive a statement by email.

We will not send you any promotional material if you do not opt-in to this service.

If your application is successful and a finance account is opened with Smiths City we will only give information on the account to those named on the account either as the primary account holder or an associate. If your name is not listed, we cannot provide you with any information.

For example, if the account is in the name of Mr Smith and there are no other names listed, Mrs Smith will not be given any information pertaining to the account if she calls or goes to a store. Whilst frustrating, this is for your protection and privacy.