When prospective lenders inquire about your credit standing, they examine your record with certain expectations. Learn to evaluate your own report and to avoid a credit denial letter, you need to know those expectations.

The five most common reasons for credit denial based on a credit report are as follows:

1) Delinquent credit obligations. Late payments, bad debts, or legal judgments against you make you look like a risky customer.

2) Credit application incomplete. Perhaps you left out some important information or made an error on the application. Any large discrepancy between your application and your credit file can count against you. The lender will wonder if you are hiding something.

3) Too many inquiries. Inquiries are made whenever you apply for credit. Requesting your own report also counts as an inquiry, but is usually not held against you. At the creditor