Were you Denied Credit?

While creditor's are not required to tell you the factors they use in their scoring system,
the creditor must tell you why you were rejected for credit.
This is required under the Equal Credit Opportunity Act (ECOA).

So if a creditor says you were denied credit because you have not worked at your current job long enough, you may try and reapply after you've been there at that job longer. Or, if you were denied credit because your monthly-income vs debts was too low, you might want to pay some of your bills and then reapply.

Something else to remember, the credit scoring systems differ from creditor to creditor, so you might get credit if you applied for it elsewhere.

Sometimes you can be denied credit because of a bad credit report. If so, the Fair Credit Reporting Act requires the creditor to give you the name and address of the credit reporting bureau that reported the information.
You can contact that credit bureau to find out what your credit report said.

This information is free if you request it within 30 days of being turned down for credit.
Remember that the credit bureau can tell you what is in your report, but only the creditor can tell you why it denied your application.