Imagine a situation: you come to a bank to get a loan to pay for a long-awaited purchase or other unforeseen expenses. And suddenly you receive a refusal. Of course, it surprised you, and you were upset. Such emotions are understandable, because it is unpleasant to receive credit refusals. There are probably certain reasons for this. Let's see if there are loans without failures, why does a bank refuse a loan and can a negative answer be avoided somehow?
In what cases does a bank make a positive decision on a loan?
- Credit history. If you previously had loans at this or another bank, you made the necessary payments on time, then getting approval will be quite easy. Otherwise, the chances of approval will be very small.
- Scoring. Using this procedure, the bank assesses the solvency of the client. As practice shows, they automatically make a decision on granting a loan to a specific person based on the amount of data indicated in the questionnaire. To take a loan without failures, it is required to meet all the conditions of the bank. Significant influence on the decision of the bank has your age, marital status, registration, financial stability and so on.
For what reasons can a bank refuse a loan?
- Low salary. Here it all depends not only on the volume of wages, but also on your ability to document all amounts. This requires a job with official income. Of course, there are banks with which loans are provided without any reference. But in the case of a positive decision, you will have an increased interest rate, and, accordingly, the overpayment will be greater. But there is an advantage. You can get an urgent loan without refusal only with your passport.
- Invalid data in the questionnaire. You can get a negative decision on granting a loan if you are trying to hide some data from the bank. For example, the presence of loans and debts in other banks. Some people sometimes submit fake inquiries and documents. Such actions very often can not only minimize the chances of approving a loan, but also become criminally liable for breaking the law.
- The age of the borrower. The greatest chances of getting a loan are in people of middle age. Most likely, youth and pensioners will be denied a loan. Although some banks are very willing to provide loans for people of retirement age.
- Lack of registration. Most banks take loans with mandatory registration seriously. It is generally desirable that it be in the place of the actual location of the bank branch. But this fact does not apply to every financial institution. Therefore, with a strong desire, you can get a loan instantly without failure and without having a permanent place of residence.
So, if among all these points you fit into several, then getting approval for a loan will be very difficult. But do not forget that nothing is impossible. The main thing is to study all the requirements of the bank before submitting an application. If you were denied one bank, then it is not necessary that in all the others you will also receive a negative decision.
How does credit history affect rejection?
First of all, review your credit history in detail. If you think that you didn’t conflict with the bank before, then the financial institution may have a completely different opinion on this. For example, it may be mistakenly listed funds that you generally did not say anything about, or similar situations.
Most of the problems a potential borrower faces is precisely because of his credit history. You can never know in advance how a random penalty or a one-time delay may affect. For this reason, you should definitely have information about the status of your credit history.
It is no secret that most borrowers are confident that they fully own information about their history. But people can forget some little things, all delays or fines, which they consider insignificant. But banks will consider even the smallest delays a significant violation.
For example, customers sometimes make mistakes and accept penultimate payments for the latter, which is why delays begin to appear. Even if such a mistake is corrected in the future, it may not have a completely positive effect on the credit history and there may be a refusal on the loan.
What can be a denial of credit?
To receive loans without refusals, you should be aware of what a refusal is based on information from your credit history. It is of two types:
- Objective - this happens when the credit history in reality does not meet the required conditions.
- Subjective - this is when the credit history is in satisfactory condition, but for some reason it does not suit the bank employee.
Can I get a loan without requesting a credit history?
To date, getting a loan on a card without refusals without asking for a credit history by employees is practically not possible. Such information is investigated by managers in the first place. Even with a high level of income, the availability of real estate in the property, a negative decision from the bank can still come.
How can I get a credit history?
Each person wants to get a loan instantly around the clock without failure, but before that you should definitely find out where you can get your credit history. You can find it out by sending a request to the central catalog of credit histories. You can receive such reports an unlimited number of times. The report arrives within ten days. It can be provided in electronic form or on paper. When entering a personal code, the Bank of Russia website allows you to see your credit history. This code can be obtained when you first enter into a loan agreement. But not all managers say that it may be needed in the future, and for this reason it will be very difficult to find it yourself.
Credit card as a loan to a card without fail
Everyone wants to come to the bank and immediately become the owner of a credit card with a sufficient limit to make their intended purchases. Banks do not provide loans without failures to all comers. But there are also such credit organizations in which the requirements are much more loyal than those of others. One of the fastest methods of obtaining a loan is to study the requirements of financial institutions. On their official sites, you can fill out an online application and not waste time visiting banks. So one, and sometimes several institutions can respond.
Microfinance Organizations
More loans without failures are provided by companies issuing small amounts for short periods. As a rule, these are small financial organizations, funds, consisting of deposits of their owners. In such institutions you are unlikely to receive a refusal, but be sure to prepare for the fact that the interest will be slightly higher than at the bank. And this is understandable, since firms are thus insured against possible losses. Agree that this is logical: to make the cost of the service more expensive, since it does without a different collection of documents and a long time for considering the application.
Also, one should not count on large amounts of loans, since the main advantage of such organizations is the speed and ease of providing money. They are usually issued on the day of application. It is not required to collect a large package of documents, go through various interviews and wait several days. For this reason, if funds are required very quickly, then this is the best way out.