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Yes, they are bound by law to disclose why they turned you down. Most of the time they will tell you that is was based on information from your credit report. They will also tell you which credit reporting agency they used. You are entitled to a free copy of your credit report for 30 days.

If you find errors on your report, dispute them with the creditor and the credit reporting agency.

For free sample letters and templates you can use for this purpose, check out

http://www.creditscoresystems.com

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Q: Does a company have to tell YOU why they turned YOU down for credit?
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