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You were probably denied your loan application BECAUSE of your credit rating. It should be possible to find out what your credit report says about you - see the link below.
Wiki User
∙ 15y ago
Wiki User
∙ 14y agoYes and too many bring down your credit score.
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Will having a credit card with a high limit affect your ability to get a loan?
if you obtain a credit card with a high limit it will not affect your credit as long as the card is in good standings .. however if the card is maxed out it could affect your credit score wich will intern stop you from getting a loan. although it may not stop you from getting your loan but it will affect your interst rates
Will multiple credit card inquiries affect the chances of getting a home equity loan?
Multiple inquiries will not affect your chances, the only way it would affect you getting a home loan is if your credit score was impacted. Be careful with applying for credit cards, the inquires affect your score negatively.
How does one receive bad credit for a bank loan?
One generally doesn't receive bad credit for getting a bank loan. A bank loan can be denied though, if one has bad credit. Bad credit can occur if one does not pay credit card bills on time.
What does it mean to have a loan withdrawn?
Denied a loan; or depending upon the wording, borrowing on a loan...such as revolving credit...a credit advance.
How does having bad credit affect my mortgage payments?
If you have bad credit you will not only have a hard time getting a loan, but you will be charged a higher APR. As a result, your mortgage payment will be higher than if you had good credit. If you already have a home mortgage, having bad credit will not affect it. If you have bad credit and go to get a mortgage, you run a risk of being denied a loan until bad debts are taken care of and even then you may have a higher rate.
How does bad debt affect your chances of getting a loan?
A bad debt can affect your chances of getting a major loan such as a house loan. Bad debts lower personal credit ratings and banks are opt to reject loan applications because of this.
Does being denied a car loan lower your credit score?
yes, when you apply for an auto loan and get denied, it will hurt your credit. first, just applying for credit is a hard hit by 2 to 5 point lost.
Will a car loan affect chances of getting a school loan?
In the US, no it won't. Your credit and job history do not play a part in student loan eligibility.
If a cosigner on your car loan start getting bad credit from her credit cards should it affect your credit too?
not if you make your payments like you should a cosigner is only called upon if you default on your loan
Is having a 600 credit score hinder me from getting a home loan?
Hi, I think it will be hard on you. I got denied many times with a 680 credit score. I thought that was a high score.
If you default on your pay day loan will that affect your credit?
Yes, if you default on any loan it will affect your credit rating negatively.
How can one get a home loan with bad credit?
Getting a home loan with bad credit is increasingly difficult in the United States. There are limited loans from the Federal Housing Administration (FHA), but short of having a large down payment, those with bad credit are mostly likely to be denied.
