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Requested some financial service and had your credit denied even having a high score?
Be aware that this is more common than you might think, as having a clean credit history is no guarantee of credit, nor is having a good credit score.
So, keep reading this article and find out why this happens, as well as tips on how to get credit approval more easily.
Check it out!
What are the possible causes of my credit have been denied despite the high score?
Each bank has its own method of analysis.
This way, it must have happened to you or someone close to you, to obtain a credit card from one financial institution, and then to be denied by another.
Or someone with a lower score than yours gets a loan and you don't.
In this sense, at the moment when our credit and denied and the reasons are not given, we simply believe the first assumption that comes to mind.
Knowing that our request was not accepted even with a high score leaves us frustrated and with a feeling of helplessness.
That is, you don't know where you went wrong so you can try to get it right next time.
However, you can contact the company to ask why your credit was denied, but they are not obliged to reveal it.
Therefore, check out the possible causes below:
- Bad name;
- Previous poor relationship with the institution, for example: not paying for a service on time;
- Does not have a Positive Registry;
- Any inconsistency in the personal data and documentation provided;
- Income value;
- If you have proof of income;
- Reputation with credit protection agencies as a good or bad payer.
Now that you know the possible reasons why your credit was rejected even with a high score.
So, the question remains how to resolve this situation, right?
Check out the tips we've put together for you below, get on top of your routine, and increase your chances of getting credit approved.
Pay your bills on time
Have you ever heard that saying “I owe, I don’t deny, I’ll pay when I can”?
In the financial world, it doesn't work that way. If there's a due date to pay off your debts, then meet it.
The institution usually lets you choose a better due date, precisely to avoid delays and keep your score high.
The "better late than never" approach will also harm your relationship with the institution, and it will be considered negative behavior on your financial resume.
Use other company services
Despite the rejection, you don't have to sideline the company and come back in six months when you want to request another review.
So, see what services the institution offers that might be useful to you and help you build a bond with it.
To make it easier, we'll give you an example: if the company has a prepaid card, request one and use it.
Get active! Transfer money, receive payments, use virtual and physical cards, complete missions to earn benefits, and if you have a credit card, register it in the app.
Registration with Serasa
Finally, keep your data on Serasa always updated, and if by chance you don't have it Positive Registration, activate yours.
Certainly, having a high credit score can be a decisive factor in avoiding denial.
Therefore, follow the tips we gave above, and if you don't get it on the first try, continue being a good payer and do a new simulation within at least 3 months.
