707. One lender refused my loan, but another one said it was fine. How can this be?
Description
This article is from the Credit cards and Consumer Credit FAQ, by adams@spss.com (Steve Adams) with numerous contributions by others.
707. One lender refused my loan, but another one said it was fine. How can this be?
There are two possible reasons. First, they may have been looking
at reports from two different credit bureaus. A lender where you
had a problem might have sent a report to one of those credit
bureaus but not the other. Second, lenders have different criteria.
Even when looking at the same report, they might reach different
decisions.
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