Let's see how the denial of credit is reflected in your credit report. When you apply for a small loan in a bank or a large financial institution and are refused it will leave a mark on the credit report. So, how do these impressions appear in the report

How does it show that the loan was denied

The rejection information is not clearly indicated on the credit report, but if you agree with the loan institution in the application process to look at your credit report, a search log for loan approval will appear in the report. This record shows the time node of the inquiry, the financial institutions consulted and the reason for the inquiry - the approval of the loan. This record is often used by other financial institutions to determine whether you will obtain approval for a loan. In general, if your loan approval is approved, the record of the loan, such as the time of the loan, the loan institution, the amount of the loan, the amount of the monthly repayment, etc., is clearly shown in the credit record. The time of the loan should normally be very close to the time of searching the records and the name of the lending institution and the search institution should also be the same. In general, if there is a search record but no credit record, it is likely that the loan application was rejected。

So how can we improve the success rate of loan applications

First of all, you need to raise your credit scores, because that's an important basis for banks to judge whether or not to give you a loan. Trying to get a full picture of your own credit rating, if it is low, it needs to be upgraded through various means, such as timely debt repayment, avoidance of overdue payments, and reduction of credit card consumption。

Secondly, it is also important that sufficient financial certificates be provided to enable banks to understand your financial position. These may include payroll, bank statements, securities, real estate, etc. Proof of a stable income and sufficient assets would increase the level of confidence in the bank, thereby reducing the risk of loans。

Finally, the choice of loan modalities appropriate to their actual situation can also increase the success rate of loan applications. For example, if you want to buy a house, you can choose a mortgage; if you want to buy a car, you can choose a car loan. When choosing a loan, you need to consider your own solvency and the interest rate of the loan。