Among the most common reasons people are turned down when they apply for credit are:
‘Too little time in current job or at current residence.
Too much outstanding debt.
Unreasonable purpose for requesting credit.
Cosigner cannot take on additional debt liability.
Errors on applicant's credit report.
Strict creditor's standards.
In general, creditworthiness must be determined on the basis of criteria that relate to your ability and willingness to repay debt. You cannot be denied credit based on your sex, marital status, race, religion, national origin, age, or dependence on income from public assistance.
If you are denied credit, the creditor must provide you with a written statement of the action and your rights, as well as the reason for denial or how to request the reason.
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Among the most common reasons people are turned down when they apply for credit are:
‘Too little time in current job or at current residence.
Too much outstanding debt.
Unreasonable purpose for requesting credit.
Cosigner cannot take on additional debt liability.
Errors on applicant's credit report.
Strict creditor's standards.
In general, creditworthiness must be determined on the basis of criteria that relate to your ability and willingness to repay debt. You cannot be denied credit based on your sex, marital status, race, religion, national origin, age, or dependence on income from public assistance.
If you are denied credit, the creditor must provide you with a written statement of the action and your rights, as well as the reason for denial or how to request the reason.