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What do I do if I am turned down for credit?

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What do I do if I am turned down for credit?

Answered By Sophia Caylar, Editor


The creditor or lender is obliged by law to provide the reasons why your application has been rejected. They should also say which credit bureau provided them your credit report. What you can do is write a letter if appeal and explain why your credit report does not justify your credit ability. But if you do have a poor credit report, it is best to make your credit standing better before reapplying.

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