Having a high credit score doesn’t ensure that you’ll definitely get those loans that you need. Here are a few reasons you may find yourself rejected despite being financially sound.
- Your income isn’t high enough. As a borrower, you could look perfectly, but if your income isn’t disclosed then no one is going to give you a loan.
- You filed bankruptcy before. Bankruptcy will remain on your account for seven to ten years, so if you filed within that time and then are looking for a loan, you might find yourself in a pickle.
- Your credit history isn’t long. Your credit score can be great, but if it reflects that your history isn’t long enough then you might be in for some trouble.
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