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Why was my loan denied?

old typewriter and word "rejected"

You applied for a loan and your application was denied.  And now, you are left wondering why. Here are six common reasons loan applications get rejected, and steps you can take to make yourself more likely to be approved for your next loan. Your credit score is too low Your credit score, also called a…

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Be a credit card deadbeat

cash & credit cards

There are two types of credit card customers:  revolvers and transactors.  Revolvers carry a balance from month to month, and are the money makers for credit card companies because they also pay interest, and sometimes late payment fees.  Transactors pay off their balance every month, thus avoiding interest charges and late payment fees. Transactors are…

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