It's hard to determine what a lenders final say is when they determine to extend you lines of credit. I'm sure this could be the million dollar answer if we knew. So many times in life we do not understand why we could not get a credit card or open a bank account or even get a pre-paid card in our own name. I have in my own life been in this situation many times and wondered what happened, why did not I get approved? I did not open lines of credit when I was young. I never financed a car. I figured I had good credit. I just could not understand what was going on. I knew one thing I had to figure out what was going on. I dropped a credit report and found out real quickly what the problem was. I had never looked at my credit report I had no idea what to look at. I bought some help and this is what I found out.
1) I had items reporting on my credit that were not even mine. I did not recognize them and not only that I was not even alive on half the items reporting.
2) I noticed I had several inquiries for credit that I did not inquire about. This dropped my score dramatically. Not only that I was now considered high risk by applying for credit so many times in a short span.
3) I had 2 credit cards reporting on my credit in someone else name that clearly resembled my name.
4) I saw several different phone numbers on my credit report that I never had and were not mine.
5) Several different addresses that did not quite come to mind.
How many times have you been this person? How many times have you tried to get credit and were denied? If you're not paying attention to what's going on how can you expect to be on top? How can you expect to have a minimum risk for someone to lend to. You can fix these issues and fight back. You can actually show lenders and companies that you're a great candidate. I have never been shy in saying that your FICO score the number does not actually tell the whole story. Anyways the list went on and on. I realized quickly that not paying attention to the details caught up with me. The reason I say that is because the personal credit bureaus are not governed by law to protect us. We have the right as consumers to have access to the information reported on us by 3rd parties. Let me put it clearly. You would let someone drag you into court without the proper documentation would you? The same principle exists here do not let a 3rd party agency report incorrect information on you without having PROOF first, plain and simple. Makes sense does not it.
Enforce your knowledge and fight back. Know the laws and what to look for. Do not get taken advantage of when something as simple as knowing will get you out in then end every time. You have the ability to make it happen. Doing nothing gets nothing. Do something!