Can A Credit Reporting Agency Deny My Application For Credit? How Do Credit Scores Affect My Application? - CREDIT SCORE

Free Credit Report Directory. Find free credit report providers, learn the importance of checking your free credit report annually
TODAY'S SAVING TIP  Credit bureaus do not allow everyone to see your credit report. Only those who can prove a legitimate need may have a copy of your credit files. In almost all cases, your written or oral permission or your signature on a credit application is ... Read more
Credit Fact Center
Homepage

Bankruptcy
Credit Bureaus
Credit Cards
Credit Fraud
Credit Information
Credit Rating
Credit Repair
Credit Report
Credit Rights
Credit Score
Saving Tips

Compare credit report services
Click here
Did you recently check your credit score? Receive a FREE credit score when you check your free Credit Report!
Check your credit report today, and find out about your credit score.
Free Online Credit Report and score
You receive all this for free - no obligation  Free Credit Report - easy-to-read with color graphics
 Free Credit Score - with personalized tip for making your score higher
 Free Debt & Income Analysis - examines your borrowing power
 Plus a free 30-day trial of Credit Monitoring Services
Get your Free credit report! Click here

CREDIT SCORE: Can a credit reporting agency deny my application for credit? How do credit scores affect my application?


CRAs do not make decisions regarding a consumer’s creditworthiness. Rather, the CRA compiles reports of what your file contains and passes that along to the potential credit grantor.

Credit decisions are, in fact, generally made based upon a number of factors that comprise a "score." Inquiries made in connection with your applications for credit may also be a factor in your score. If, for example, you have applied for several credit cards or loans in a short period of time, this may result in a lower score. Inquires made in connection with pre-approved credit offers or those you make yourself should not result in a reduced score.

The practice of credit scoring is widespread and growing. Until recently, consumers have seldom gained access to their credit score and have not been able to learn the factors that went into the scoring. But a new law in California gives mortgage applicants a right to see their credit score (California Civil Code 1785.10, 1785.15-1780.20, SB 1607 in the 2000 legislative session). And the credit industry is voluntarily loosening its grip on the credit score because of legislative and marketplace pressures. To learn more about the topic of credit scoring, see the Federal Trade Commission’s (FTC) information at www.ftc.gov/bcp/conline/pubs/credit/scoring.htm. Additional information can be found at the Fair, Isaac and Co. (FICO) web site (www.fairisaac.com). FICO is the leading developer of scoring methodology. The credit score is often called a "FICO."

ADDITIONAL CREDIT SCORE RELATED FACTS

How Is A Consumer's Application Scored?How Is A Consumer's Application Scored?
If You Have Been Managing Credit For A Short Time, Don't Open A Lot Of New Accounts Too Rapidly If You Have Been Managing Credit For A Short Time, Don't Open A Lot Of New Accounts Too Rapidly
Credit Score RangesCredit Score Ranges
Why Did The Credit Reporting Bureau Give Me A Bad Credit Score ?Why Did The Credit Reporting Bureau Give Me A Bad Credit Score ?
What Is The Range Of The Experian Credit Score? What Is The Range Of The Experian Credit Score?
What Are FICO Scores?What Are FICO Scores?
How Is A Credit Scoring Model Developed?How Is A Credit Scoring Model Developed?
Find Credit Facts

FREE CREDIT REPORT
First Name
Last Name
Email
Street Address
City
State
Zip Code
Reason for Credit Report
Click here to receive other money saving offers from Credit.com
By clicking this button, you accept Credit.Com´s Privacy Policy.
Home | Feedback
Copyright 2005 - 2008 http://www.AskMrCredit.com. All rights reserved.