Bank credit: these are the reasons why you could be denied | personal finance

Usually, bank credits are requested in order to pay for studies, a trip, buy a vehicle or buy a house. Now, when requesting it from a financial institution, there are certain requirements on the part of the bank to be able to approve it.

That is why it is necessary to have good management of credits through compliance of payments in order not to be reported and have a good credit history.

According to Rankia, These are the reasons for being denied a bank loan:

  • The little or no payment capacity of the person requesting the credit.
  • Have a bad credit history.
  • Be or have reports in risk centers such as Datacrédito.

Keep in mind that by being reported in Datacrédito, you will not be able to request neither mortgage loans, nor free investment credit, microcredits, vehicular credit, no libranzas credit, no préstamos with credit cards, debit or prepay.

What to do if you are denied a bank loan?

In this process, it is essential that the client knows from the entity what were the reasons for not approving the bank credit. If the rejection is justified by a Datacrédito report, you must ask the bank to inform you in writing.

Now, if they do not give you the credit for payment capacity, you must review the amount that the bank can lend you and based on the longest term offered, That is why you should seek financing from banks or online lenders. have more flexible requirements.

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