Do you applied for credit and received a letter of denial? Often, people who feel that they have good credit to receive these messages and Odhisht about what went wrong. You may have made your payments are always on time, it does not have any groups, and for some reason, the banks are unwilling to lend you money. Then, to add insult to injury, you will receive this form in the mail that you were told was going to explain why it can not be approved for credit, but when you get it, it does not seem to make sense. It is a set of symbols and phrases that you may not understand. There may also be a list of things that make it seem as if you're some sort of Dead blows with several credit issues. However, keep in mind, you may drop a single case under several categories. Usually it looks worse on paper than it really is. Below is a list of reasons for refusing to credit and what it means. This should help you to understand why you do not agree and what you can do to fix this issue.
amount owed on accounts is too high - and this means that your overall balance (the sum of all balances all of your accounts) are too high. It may not be your gross monthly income is sufficient to maintain this amount of debt. To correct this error, you will need to come up with a plan to get your debts paid down. You probably will not be able to get any credit more advanced you until you have paid down because some creditors do not want to make it difficult for you to pay them again.
level of delinquency on the account - this means your accounts are 60-0 days past due. If you have anything that is past due, you will find it impossible to get a credit card. No one wants to lend money to someone who is already clear that there is a problem in making the payments. Get caught up on your accounts and keep them that way for several months, and try again.
very small number of bank accounts that rotates - this means basically you do not have enough credit. It's really a catch 22. How do they expect to have more if no one will give them to you? The best way to do this is to open two secured credit cards. These are the types that you can put the money up front. Keep them active for a while and then traded for something better when you're able to.
too many banks or national revolving accounts - this is the opposite of the above. You have a lot of open credit cards. This can happen if you've opened a lot of store cards for an additional 15% off. You may not have a balance in any of these, but has ended up with about 15 of them are open. Go through and close all but 3-5 of them if they did not have any balances. If they have balances, try to pay it off and then close them. Be sure to keep about 3-5 of them open so as not to get hit to be very few.
a lot of accounts with balances - you have too many accounts balances. Narrowing the cards that are used all the time to about 3 and then pay off the rest of the world.
a lot of consumer finance - company accounts and this means that you have taken out a lot of high-risk loans. This is good if you're having a hard time getting someone else to approve you, but still a little to have a negative impact on your credit score. If you have to use one of these loans, be sure to take it as agreed upon and get it paid off quickly. And pay this off also agreed to improve your credit score and allows you to get more loans normal risk next time.
date of payment of the account is very new rate - this means that you may arise only recently no credit history at all. Slow down in its inception. I only have a small number of accounts opened in the beginning. Wait about 6 months, and make sure you make your payments on time, then try again.
a lot of recent inquiries post 12 months - has applied for a lot of loans in the past 12 months, or more likely, one of the creditors has been included multiple inquiries when applied. Contact them and ask them to remove or strengthen inquiries. If all inquiries and legitimate, and wait until you have less than 6 per 12-month period, and then try again.
a lot of accounts opened recently - has opened too many accounts in the last 12 months or so. Do not attempt to open any more for at least another year, but if you pay some of them off. Applying for credit too much at one time makes you look desperate and desperation makes lenders wary.
ratio of balances to credit limits is too high for banks that spin or other revolving accounts - this means that balances your credit cards is very close to its borders. Get this paid to about 30-50% of the allowable limit. This is sometimes why consolidation loans can cause problems. If your limit is $ 5,000 and $ 4,800 in private, but you have only one loan now, you may still see the reason for the rejection. You might try a request for an increase in your limit. In the future, everything you can to keep your balances your cards away from credit limits do.
amount owed on revolving accounts is too high - along the lines of the above - keep all tradelines spin less than 50% of the credit limit or attempt to ask about your limits to be increased.
length of time was created revolving accounts - and that means you have not had a well-established, including credit enough for them to be able to judge your creditworthiness. Continue to make timely payments during the next 6-12 months and try again.
time since delinquency is a very modern or unknown - may have late payments or collections was very recently, and it seems you are desperate for credit. The fear is that you will use their credit to pay off and others will not be able to pay them. Get caught up all your accounts, make payments in a timely manner for a period of 6-12 months and try again.
putlength of time accounts - your accounts are very new. Continue paying as agreed for a period of 6-12 months and then try again.
lack of recent renewed banking information - you spin lacks the depth of the credit card (again, just something that time). Wait 6-12 months to make payments in a timely manner and apply.
lack of recent revolving account information - there is not enough information on the recent revolving debt to make a decision about what motivated the kind that would be. If you do not have any other credit cards, try to get one secured and make timely payments for a period of 6-12 months and then apply. If you have other credit cards, pay as agreed for the same amount of time and try again.
does not have a balance of information is the last mortgage - this means that you do not use any credit there is not enough information to determine what type of drive you. Use a couple of accounts you have (or get a secured card if you do not have any of them open) and is responsible for 10-15% on each account. Not repaid in full each month. Instead, to make timely payments for 6 months and then try again.
The number of accounts with delinquency - you have many accounts that are behind. Bring them all current and paying as agreed. You may need to wait 12 months of pay as agreed after bringing them before the current to get more loans
the history of the past to investigate the very near - you've applied for other credit recently. This refers to the despair and adversely affect your score. Wait a few months and try again.
very small number of accounts that are currently paying as agreed - and this means that you have multiple accounts that are in groups or been late. Paying bills on time and in full.
length of time since derogatory public record or collection of very short - you've had the last sentence or a franchise that needs immediate attention to be removed from your credit report. Your score will improve some as soon as you get.
amount owed by the former accounts - you have an account that has a large amount past due. They require immediate payment.
serious delinquency, derogatory public record or collection filed - you have a big verdict, collection, or privilege. You will need to pay immediately.
a number of banks or renewed national accounts with balances - you have many accounts with balances. Start paying them or closure of some right away. If you're going to shut down, start with those recently opened first.
not rotating balances latter - do not have any activity on your revolving accounts. Charge a small balances on a couple cards and do not pay them in full immediately. Instead, make payments in a timely manner for a period of 6 months or so.
The number of rotary accounts - this means that you have too many credit cards or lines of credit are open that are not active. Just shut down everything except for 3-5.
The number of accounts established - do not have enough of accounts that have a lot of history. Try to keep 3-5 open and active accounts for 6-12 months.
balances are not the last bank cards - and again, you do not have enough of the latter activity, and maintain small balances and make payments in a timely manner for a period of 6 months.
because most of the time last opened the account is too short - I have only recently opened another credit line. Keep pushing also approved the accounts and wait 6-12 months more established to date.
very few accounts with recent payment information - this is another way of saying you do not have enough tradelines. Open a few unsecured lines of credit and carry small balances on them. Make payments in a timely manner for a period of 6-12 months.
lack of recent installment loan information - this means your creditors do not you update your credit report. Contact current loan companies and ask them to update payment history on your credit report.
ratio of loans to loan amounts are too high balances - this means that you are very close to your credit limits. Keep all of your balances to less than 50 percent of your limits.
amount owed on delinquent accounts - you have many accounts that have not been paid as agreed upon with large balances. Get this current as soon as possible, and pay them in full.
serious delinquency and public record or collection feet - you have collections, liens, or judgments that need to be paid. Get them settled and paid in full immediately.
serious delinquency - you have too many groups, and privileges, or rulings. Repaid as soon as possible.
derogatory public record or collection filed - you have the rule, privilege, or the expense of a humiliating group. Get it settled was paid as agreed as soon as possible.
Hopefully, this will help you understand what is happening with your credit. Game Credit can be mad because there are a lot of factors that play into your credit score. As you can see, you can be just as detrimental to not have enough credit as it can have too much. Usually, the mere presence of a few tradelines on your credit report to be open and active, and paid as agreed is enough to keep your score in a good range to help you qualify for a credit as you need them.
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