 TITLE: Does a Declined Loan Appear on Your Credit Report? CONTENT: What to Do if Your Application Is Denied\n----------------------------------------\nIf you do apply for a loan or credit card and the lender denies your application, they are required to send you a denial letter called an adverse action notice.\nThis letter will typically state the reason or reasons why you were declined. If you were declined due to your credit score or the information included in your credit report, the letter should provide a list of the reasons, or risk factors, that contributed to the decision. This information is meant to help you better understand why your application was denied.\nIf a credit report was used in the lending decision, the letter must identify the source of the credit report information used and an explanation of your rights. If your credit score was a factor in denial, the letter will include it as well as the date it was calculated and the range of possible scores.\nThe first step you should take after you've been denied credit is to get a copy of your credit report. Lenders must provide instructions for requesting a free report from the credit bureau they used in the adverse action notice they send to you. Looking over your credit report can help you better understand your credit situation, including your risk factors, and hopefully help you devise a strategy to improve your scores.\nYou can also check your FICO® 8 credit score based on Experian data for free. Your credit scores are influenced only by the information on your credit report. The factors that impact your scores the most include your payment history, your credit card debt and the age of your credit report. END