If you are denied credit for any reason there are three ways to obtain a sense for why that occurred:
Your Credit Information
The best way to find out what could be hurting your credit score is to obtain copy of your credit report and thoroughly examine it.
Your credit report is the repository of all the credit information you have accumulated over the years. This information is so important that you are entitled to one free credit report each year.
However, a credit score will not appear on your credit report. This is because a credit report does not include your income and your income is needed to calculate a final credit score. Plus, the credit reporting bureaus sometimes use dissimilar credit scoring systems.
What you want to dissect is the information that is in the report. Something in there is what is hurting your credit score.
Examine Your Credit Report
Your credit report contains six parts. You’ll want to study each of them for accuracy.
The factors that influence credit scores are:
Your credit score sums up your creditworthiness. Your credit report represents the way you handle your financial obligations. Use both to determine what could be impacting the way lenders view your credit potential.