It’s bound to occur to all or any of us in the past or another—you get to make application for a credit that is new (or a car loan, home loan, or some other personal credit line) and, out of nowhere, they turn you down.
You’re shocked. Angry. And—if you know which you have credit that is fairly good.
“But I have good credit, ” you shout. “How are you able to reject my application? ”
A credit that is good isn’t every thing
If you’re a regular reader of this web log or others want it, you probably have a (healthy) obsession along with your finances — as well as your credit health. You check your credit file at least when a 12 months and maybe make use of a free monitoring device to monitor your credit rating. ( learn to check always your credit rating at no cost now when you have actuallyn’t recently. )
We’ve been taught to have this number in to the 700s or beyond to make certain that we always be eligible for the interest rates that are best.
That it’s important to have a good credit score, your score is just one of many factors a bank will use in deciding to extend you credit although it’s true. Continue reading