This article contains information about:
- I’ve been rejected for credit. What should I do next?
- Will my score be affected?
- Why have I been rejected for an offer you recommended?
I've been rejected for credit. What should I do next?
If you’ve been rejected for credit, it’s most likely because:
- You don’t meet the lender’s criteria
- You have a low credit score
- You have a mistake in your report.
Whatever you do, don’t apply for more credit – this could lower your credit score.
There are a few things you can do to improve your chances of being accepted in the future:
- Read through your credit report. You might have been turned out because there’s incorrect information or missed payments showing.
- Make sure your report is up to date, particularly your address history and financial associations. If your report information is more than 4-5 weeks out of date, you’ll need to contact the lender or fill out a dispute form to correct it with our data provider (Equifax).
- Contact the lender you applied with to find out more information about your application.
- Improve your score by following our 10 simple steps before you apply again.
Read more about credit reports, scores, and applications.
Will my score be affected?
Yes and no. Your credit report doesn’t show whether you’ve been approved or declined for an offer.
When you apply for credit the lender will check your report (we call this a hard search). This search is added to your report and will usually affect your score.
We don’t recommend making a lot of credit applications in a short space of time. Lenders might think you rely on credit to get by and may struggle to pay them back.
Why have I been rejected for an offer you recommended?
The offers we match you with are based on your score and credit report information. They’re personalised and give you a better chance of being accepted - but no offer is 100% guaranteed.
When you apply for an offer, lenders carry out their own additional checks to make the final decision on your application.