Why was I declined credit?

The decision to decline your application for credit is made by the credit provider, not Equifax.

You are responsible for managing your finances and all applications for credit that you have applied for.

Have you been declined credit?

It's important to understand that your past behaviour, and management of your finances and accounts, can affect your ability to get access to credit. In some cases if you have lost your identify documents, or had them stolen, and not reported this to Equifax, criminals can attempt to apply for credit in your name and, if successful, they can open accounts and not repay them. This information will be reflected against your name.

You may discover that:

• You have payment defaults or collections (overdue accounts) that you had forgotten about
• The information on your credit file is incorrect
• Someone has been using your identity to obtain credit fraudulently and has defaulted on the payments.

It is also very important to understand that a credit provider may decline an application for credit even if payment defaults or collections (overdue accounts), court judgments, or insolvency information is registered on your credit file with a paid in full or settled status.

All credit providers have their own lending criteria and they will use their own methodology and credit decision metrics together with the information provided in your credit file. Depending on the amount of risk they wish to take they will decide on whether to approve or decline your credit application.