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There is not enough credit history for the lender to make a decision. The credit file is a history and if it doesn't go back far enough, or have enough accounts on it, they can't make an informed decision. To solve try to get small things that will appear on your credit, possibly a card with a 500 dollar limit, etc.

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โˆ™ 2015-07-17 17:44:06
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Q: What does insufficient credit file mean?
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What does insufficient credit mean?

Insufficient credit mean that there is either "no credit" information available or not "enough" credit information to base another credit decision on. He/she has not financed a car, loan, and/or a charge card at all or has only had it for a very short period of time (6 months or less). In other words, if you are looking for a loan, and I pull your credit, and there is nothing there to show me that you will or can pay on time, you have insufficient credit on which to base a decision.


What does insufficient mean?

Insufficient credit mean that there is either "no credit" information available or not "enough" credit information to base another credit decision on. He/she has not financed a car, loan, and/or a charge card at all or has only had it for a very short period of time (6 months or less). In other words, if you are looking for a loan, and I pull your credit, and there is nothing there to show me that you will or can pay on time, you have insufficient credit on which to base a decision.


What does it mean when there is an 'I' on your credit file?

Inactive


What does insufficient credit history mean?

You have not established any credit, such as a credit card, auto purchase so nothing is going to show on your credit history.


What if your credit report is missing information?

Your credit report may not reflect all your credit accounts. Although most national department store and all-purpose credit card accounts will be included in your file, not all creditors supply information to credit reporting agencies: Some travel, entertainment, gasoline card companies, local retailers, and credit unions are among those creditors that don't. If you've been told you were denied credit because of an "insufficient credit file" or "no credit file" and you have accounts with creditors that don't appear in your credit file, ask the credit bureau to add this information to future reports. Although they are not required to do so, many credit agencies will add verifiable accounts for a fee. You should, however, understand that if these creditors do not report to the credit agency on a regular basis, these added items will not be updated in your file.


When does 'concentration of credit risk' occur?

Credit concentration risk is a result of loan portfolio insufficient granularity (large single name exposures) or insufficient sectoral or regional diversification.


Do you pay off your credit history if you have a insufficient credit score?

If you have n't a sufficient credit score, you don't pay off your credit history. It is impossible.


How do you fix insufficient remaining store credit on apple account?

Add more credit, or find something cheaper


Do you have to get credit counseling before you can file for bankruptcy?

You do not have to necessarily get credit counseling before you can file for bankruptcy.


What are synonyms for insufficient?

Lack, deficient, faulty, inadequate, or meager. Those words mean insufficient.


What does it mean to have insufficient space?

When a person has insufficient space it means there is no room to put more things.


Credit file monitoring service?

Credit monitoring is the automated process of keeping an eye on your credit. Credit monitoring helps protect you against identity theft and monitors any changes and/or inquiries made to your credit file by alerting you within approximately 24 hours of any major changes made to your credit file.

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