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Why Personal Loans are Rejected with Good Credit Score

The credit score of a person is a numerical representation of past credit-related behavior of the person. Taking the credit score as the primary factor, the eligibility of a person for a loan is determined by the lenders. Blog: https://amritaagarwalblog.wordpress.com/2018/04/09/why-personal-loans-are-rejected-with-good-credit-score/

Why Personal Loans are Rejected with Good Credit

Why Personal Loans are Rejected with Good Credit Score? The first criterion which determines the creditworthiness of a person is the credit score. The credit score of a person is a numerical representation of past credit-related behavior of the person. Taking the credit score as the primary factor, the eligibility of a person for a loan is determined by the lenders. Ashok, the resident of Chennai, was in need of some urgent fund for his sister’s marriage. As personal loans are known to be the best and fastest way to avail liquid fund, he too decided to go for a personal loan. Prior to applying for the loan, he checked his credit rating which was showing an excellent score. He was confident that he would get the loan without any difficulty.

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