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Michael Bolt

Michael has a Master's degree in International Relations from the University of Exeter.

Common reasons for being declined credit

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Being declined credit can often lead to both confusion and disappointment. Missing out on a credit card with a great interest-free period or a low interest unsecured loan can also be very frustrating. Indeed, having a credit application declined can often lead to more questions than answers.

It can often be hard to pinpoint a specific reason behind why an application is declined. If a credit application is declined, it is worthwhile contacting the prospective lender in order to see whether they can supply you with any additional information as to why your application was unsuccessful, although it is worth keeping in mind that they do not legally have to provide you with this.
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30 Mar 2015 by Michael Bolt Declined Credit
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