Bank credit loans are always rejected? You need to know these reasons!

In life, when it is inevitable to encounter financial bottlenecks, many people choose to apply for credit loans from banks to relieve temporary financial difficulties. For people who are in urgent need of money, it is very important to quickly get approved by the bank. However, when many people apply for a loan from the bank, they get stuck at the approval step and are brutally rejected. Why is this? In fact, there are mainly the following reasons:

1. Poor credit record. When applying for a credit loan from a bank, credit as the only collateral is a major focus of bank approval. Normally, the minimum requirement for a credit loan is a level 2 credit report. If there have been previous loan repayments or serious overdue loans, the bank will naturally reject the loan due to risk considerations.

2. Insufficient repayment ability. Whether you have the ability to repay is the basis for loan application. All the bank's thresholds are for you to be able to repay in the end. No matter how high your personal credit rating is, banks will not lend you money without sufficient repayment ability. This is mainly determined by the source of monthly income.

3. The debt ratio is too high. To put it simply, the debt ratio is how much money you owe. Having debt is not necessarily a bad thing. However, when your debt ratio is too high, the bank will consider whether you have no ability to repay. The higher the debt ratio, the greater the chance of being overdue, and the higher the risk. Considering all things considered, it will be rejected.

4. Provide false materials. Some people will not hesitate to forge bank statements in order to get a higher loan amount. However, banks will investigate personal income. Just check social security deposit records online. You can find out later. Once false information is found, it will be rejected directly. Here we introduce four reasons why bank credit loans are rejected to provide you with a reference. In addition, there may be other factors that may affect your application. You can ask bank staff specifically when applying. What are the reasons for loan rejection?

The first reason: poor credit record

Credit record is the "economic ID card" of modern people. In the future China, the impact of personal credit history goes far beyond loans, and is almost all related to employment, job hunting, and studying abroad. If your credit record is poor, it will naturally be a fatal flaw for your loan.

The second reason: Blank credit

I have never applied for a credit card or loan, have no bad credit record, have normal salary flow, and have no debts in my name. Why is my loan application still rejected?

Because credit record is an important document for judging a person's creditworthiness, lending institutions often have to think twice if their credit is blank.

The third reason: no salary flow

Salary workers are favored by lending institutions because their salary flow is a powerful and labor-saving basis for approval. But compared to self-employed people or freelancers, no matter how much their actual income is, their salary flow makes them very embarrassed.

The fourth reason: high debt ratio

The importance of personal debt may be second only to credit record, because lending institutions also need to avoid their own bad debt risks, so if you have too much debt If it is high, your loan application is likely to be rejected.

The fifth reason: non-specific groups of people

Out of comprehensive considerations, each lending institution will plan specific products for specific groups of people, such as special loans for civil servants, doctors’ loans or teachers’ loans. If you do not meet the occupational requirements, you will naturally not be able to apply.

The sixth reason: risky industries

Selecting industries for risk control and lending is a secret "hidden rule" of financial institutions. The main consideration is the risk of the industry. Leading to uncertainty about repayment.

The seventh reason: short working time

Some loan products have preferential quotas and interest rates, but on the other hand, they not only have requirements for salary flow, but also on this basis stipulate a certain number of working years or operating years.

The eighth reason: age issue

Some lending institutions seek stability and refuse loans because the age of the applicant is too young or too old, which creates hidden dangers in loan repayment. Keep getting rejected for credit card loans? The reasons are all here!

Money is tight and you don’t have enough money? Credit cards can only be used by swiping the card, so credit card loans are a good choice. It eliminates a lot of tedious information and procedures, and you can generally apply for a loan quickly.

However, many friends are very distressed. They obviously apply for loans with credit cards, but why are they always rejected? In fact, there are just a few reasons. Let’s take a look!

1. Insufficient personal credit. If your credit card usage is not good and often overdue, this is a taboo for loans. It is normal for you to be rejected. Apply directly for a high-limit credit card and click here to solve your financial problems! Of course, some banks also look at the degree of overdue credit. Even if your credit card is overdue and you repay it within the grace period, some banks are still very concerned about it and think you have poor credit.

2. The credit card limit is too low. If you apply for a loan of 20,000 to 30,000 yuan with a credit card worth 3,000 to 5,000 yuan, you will usually be rejected because the low credit card limit proves that you The qualifications are not very good, and the use of the card in the later period is not very good. It is recommended that if you have multiple credit cards, apply for the one with the highest credit limit. In addition, the loan limit you apply for depends on the situation and generally cannot be too much higher than the credit card limit.

3. The debt ratio is too high. Credit card loans cannot be applied for only with credit cards. It also depends on your comprehensive conditions. If you have multiple credit cards in your name that are in arrears, as well as various loans and so on, which account for too high a proportion of your income, considering that you are likely to be unable to repay the loan, it will not be easy for the loan to be approved.

4. Maximum total credit limit. Generally, banks will have a total credit limit for users. Whether it is a credit card or a loan, it will need to be within the scope of the total credit limit. If your credit card limit in this bank has reached the total credit limit, then the loan will naturally not be approved. It is recommended that you try another bank. That’s all for you about the reasons why credit card loans are rejected. I hope it can help you. The general principle when applying for a credit card loan is safety and ability. Banks control risks very strictly, so improving credit and stabilizing income are key. What are the reasons for failure in loan review

1. The applicant has a bad credit record

Nowadays, loan institutions are basically connected to the People’s Bank of China credit system. When reviewing user applications All require reference to the user's personal credit report. If there is a bad credit record on the credit report of the applicant, the loan platform will be suspicious of the user's repayment ability. In order to avoid taking the risk that customers may be unable to repay the loan, the loan platform has a high probability of rejecting the user's loan application.

2. The applicant's debt ratio is too high

When a user applies for a new loan, if there are still unsettled external liabilities, it will lead to his current external debt ratio relatively high. In this case, the loan platform will worry that the user's current external repayment burden is too heavy. In order to reduce lending risks, institutions will temporarily not approve users’ loan applications. It is best for applicants to properly pay off some of their external liabilities before considering applying for a new loan.

3. Not meeting the platform application conditions

The loan platform has specific requirements for the borrower’s application qualifications. For example, if the applicant does not meet the minimum or maximum age requirements that the platform needs to meet, or the user's income does not meet the standards, etc., he will not be able to apply for a quota. Therefore, before applying for a loan, applicants should carefully browse the platform’s application qualification requirements in order to increase the loan approval rate.

4. The loan information filled in by the applicant is incomplete

When submitting an application, users should complete all required information on the platform application interface. Users should pay attention to whether the submitted information is complete and clear, carefully check whether there are any gaps, and must not commit fraud. If there are any omissions, they should be completed in time.

5. Insufficient loan quota on the platform

Some loan platforms will limit the number of daily loan quotas and quotas. If the number of applicants or the application quota on that day has reached the upper limit of the platform, the platform will temporarily The application channel has been closed. You need to pay attention to the time when the platform refreshes the quota every day and changes in the number of applicants, and be ready to submit applications in time.

6. Non-platform loan counterpart customers

Some loan platforms will launch corresponding loan products for specific user groups. If the user does not belong to the specific user group, it is easy to encounter approval failure. situation. For example, some lending institutions will launch small consumer loans specifically for young people. If the user applies for a loan to start a business, it is easy to fail.