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stravusius

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how do i find out why i am always being denied credit for no good reason?

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Plan B Reviews Question

Its always prudent to keep an eye on exactly what day each month the credit card companies are reporting your balance. This will allow you to move money around at the exact moment that is need to report a low balance and in turn boost your score. However balances, are not the only factor as age of account is also considered.  Credit card accounts with a age of history longer than 3 years give the most weight towards score when the balance are maintianted lower than 25% of your all revolving credit limits as an agregate.  You may consider finding a aged credit card to be added to as an authorized user. Make sure the card has a high credit limit of about 2 times what you currently have but with zero balance as this will also boost your score rapidly. - Plan B Consultants Reviews

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Plan B

your score is too low or you may have collections or charge offs Plan B helped me, they had all of my collections deleted and my score is up much higher. you can reach them at 714-508-7306 or www.planbcrs.com

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Unfortunately creditors will rarely disclose why you've been denied, even if you ask them. I find it extremely annoying and backwards (how are people supposed to improve their credit factors if they don't know why they're not getting approved??). Generally, the baseline is your credit score, as many lenders/creditors have a minimum score you have to meet in order to be considered for credit. Before you apply for credit, call and ask if they have a minimium credit score and what it is. You can then benchmark against that and decide if you should apply. The more you apply (doesn't matter if you get declined or approved), the more number of hard credit inquiries shows up on your credit report. Your best bet is to start with your credit score. Hope this helps!

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I believe it is the law that they send you a reason for denial if a creditor denies you credit.

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Anytime you apply for credit and are denied, you will receive a letter in the mail stating the reason(s).  You need to get a copy of your credit report so you can get an idea why you're being denied.

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