Analyze reason for denial and make efforts to correct credit

Reference no: EM13104105

Individuals can be denied credit for the number of reasons. Individuals who are near limits on existing cards, have so much outstanding debt or too many accounts overall, have history of late payments, charge-offs or bankruptcy are probable to be denied credit. Individuals denied credit, by law, will get letter documenting reason for denial under Fair Credit Reporting Act. Individuals who get that letter must then analyze reasons for denial and make efforts to correct their credit.

Reference no: EM13104105

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