If a credit application is denied, read the notice from the lender before you apply elsewhere. The notice should explain the reasons or how to obtain them and identify the credit reporting company if a report influenced the decision.
Request the report named in the notice
The CFPB says an adverse action notice gives you a right to a free copy of the report from the company that supplied it when you request it within 60 days. Follow the notice’s instructions and keep a copy for your records.
Check the specific reason
Compare the lender’s stated reason with the report. If an account, balance or payment status appears inaccurate, document the exact item and use the dispute process. A denial does not by itself prove there is an error.
Plan the next application
If the report is accurate, ask the lender about the factors you can address and compare terms carefully before applying again. Avoid any service promising guaranteed approval or removal of accurate negative information.
It names the reporting company involved and explains your next steps.
Source and review
Based on official consumer guidance ↗. Last editorial review: September 2026. Check the source for current details.