The reasons for refusing the loan are: the user's credit report is poor, and there are bad credit records in the credit report; The debt ratio is too high, and the risk of overdue loans from lending institutions to users is greater; Insufficient repayment ability, users have no stable job and income; The applicant's age does not meet the loan conditions; The applicant is a student at school. Of course, for users, it is best not to apply for a loan for a short time after the loan is rejected. Applying for a loan at intervals is conducive to the recovery of credit information.

What if the loan is rejected?

1, repair credit record

If a loan is refused because of a bad credit record, the first thing the applicant should do is to repair the credit record.

Credit card usage records and loan records are constantly updated. If you keep a good credit record, a good credit record will cover up the previous bad credit record, so the role of the previous overdue record will become smaller. Moreover, when applying for a loan, banks and some financial lending institutions will only examine your credit records in the last two years, so as long as you keep a good credit record for two years, those bad records two years ago will have no influence on your loan application.

2. Change the loan method

If the loan is refused because the debt ratio is too high or the income is too low, the applicant can change the loan method and replace the credit loan with mortgage loan and secured loan.

Because credit loans rely on personal credit records without any mortgage or guarantee, banks and lending institutions bear greater risks, while mortgage loans and secured loans are different. If the applicant provides proof of collateral or guarantor, banks and lending institutions will feel that the possibility of loan repayment is small, because even if the lender does not repay the loan, banks and lending institutions can still get repayment by auctioning collateral or looking for a guarantor, so even if your income is low and your debt ratio is high, banks and lending institutions will have great opportunities.

3. Complete the application materials

If the loan is refused only because the application materials are incomplete, then the problem will be solved easily. As long as you fill in the information and don't cheat, you will naturally pass the loan application again.