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Credit Center Credit 101 What is in my credit file that may keep me from obtaining credit?
| What is in my credit file that may keep me from obtaining credit? |
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Each credit grantor has established criteria for making credit decisions. Your credit may appear to be perfect, but having too much credit or too many outstanding balances are examples of why your request for credit might be declined. Sometimes the decision is not even based directly on the credit file. For instance, you may not have been at your current residence or in your present job long enough. If you have any questions about why you were not approved for credit, you may want to contact the credit grantor who turned you down and ask them for an explanation. These statuses, either open or paid, are considered potentially negative: any missed payments, accounts included in bankruptcies, public record items, collection, creditor received deed, foreclosed, foreclosure proceedings started, claim filed with government, insurance claim filed, paid by creditor, paid in settlement, creditor cannot locate individual, repossession, defaulted on contract, voluntarily surrendered, and charge-off. |
