Home » Overcoming Loan Rejection » Does A Loan Rejection Impact Your Credit Score?


No, a credit or loan denial does not affect your credit score. The credit report will indicate that you made an application, but it will not show if the loan was approved or not.

The score, however, can be slightly affected by the number of inquiries made by the companies. This is because the account keeps a record of the number of queries made and how close in time they are to each other.

However, the number of inquiries will not impact your credit score if the inquiries are spaced enough.


Financial Literacy Incentives
Financial Literacy is your own responsibility that needs to be taken care of with each decision impacting money matters. We strongly recommend you to benefit from each occasion that arises intended at helping you build your financial knowledge.