If you want to apply for a loan, you still need to meet certain conditions. Many loan platforms have relatively high review standards. If you cannot meet the standards, your application will still fail no matter how you apply. After many failed attempts, some netizens couldn’t help but wonder: Why do applications for quota always fail? What went wrong? Let’s understand the reasons why loan approval fails.

Why do I always fail to apply for quota?

1. The credit report is not passed. Many loan applicants have problems with their credit report, such as overdue records. In this case, applications for credit loan products will basically be rejected, because credit loans require applicants to check their credit. Good and cannot have any bad credit history. There are also some loan applicants who, because they are eager to borrow money, often apply for loans on multiple platforms at the same time. There are many loan approval inquiry records on the credit report. Lending institutions see too many hard inquiry records of this type and will feel that the applicant For people whose repayment ability is poor and who need money too much, lending institutions are unwilling to lend money for fear that they will not be able to collect it back. There are also some people who do not have any credit records on their credit reports because they are white-listed, so lending institutions cannot judge the applicant's risk level from the credit report.

2. There are too many outstanding loans. Some loan applicants may be completely incompetent in credit reporting. There are many records of on-time repayment on the credit reporting, but there are too many outstanding loans and the debt ratio is too high. If it is high, for example, if it exceeds 70, the applicant's repayment ability will be greatly reduced. In this case, the lending institution will not be willing to lend.

3. Unstable work. Many loan products require loan applicants to have a stable job and source of income. If you are a freelancer or your job is not stable enough, your application for a credit limit will often fail. Why the application for quota always fails? The above three reasons are the most common. Some loan platforms will have special requirements, such as requiring Zhima points to reach a certain score, or requiring real-name authentication of mobile phone numbers for more than half a year. You can check according to your own situation. Take a look and meet the loan requirements before submitting your loan application.