Can you tell me why I’ve been refused credit?

Unfortunately we are unable to answer this question. The organisation you applied to made this decision and different lenders base their decision on different factors. We are not told why you have been refused so you would have to ask the lender concerned.

It may be that the information on your credit report was taken into consideration but lenders do take other information into account, such as the information you provide on your application form. Credit industry guidelines encourage lenders to give clear explanations about their decisions to refuse credit and they should explain whether the decision resulted from information held on your credit report, as a result of credit scoring, or because of something else.

If you believe you were refused credit when you shouldn’t have been, you should check your file urgently to make it contains no errors or for signs that you have been a victim of Identity fraud.

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Posted by admin on February 17, 2009 | Filed Under Credit Report FAQs 

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