How to Find Out What Declined Your Credit Check

There are few things more embarrassing than being told you've been denied credit. Whether you applied on the spot for a store chard card or you applied for a car loan, finding out that you don't have good enough credit to be able to qualify for a loan or a new credit card can be a blow to your finances--and your ego. If you have been declined credit, you usually are qualified to get a copy of your credit report for free.

Instructions

1

Wait for your decline letter to arrive in the mail. The letter of credit declination will list the issues that led to your credit being declined. There may be one reason or several reasons that led to your credit being declined. Some reasons may include bankruptcy, judgments or late payments.

2

Order a copy of your credit report from the three main bureaus: Experian, Transunion and Equifax. If you were declined credit, you can usually get a copy of your report for free. Additionally, you are entitled to one free credit report, per agency, per year through AnnualCreditReport.com, a government-sponsored annual credit report website (see Resources).

3

Inspect your credit reports to make sure that the information is correct and up to date. Your credit report may give you further clues about why your credit was declined. For example, if the letter stated that you were turned down for a history of late payments, you should be able to see which accounts on your credit report are listed as delinquent or late; look for the code next to the account that states 30, 60 or 90 days late.