I have a good Credit Score but still didn’t get a loan. Why?

A Credit score is not the only piece of information a lender will look at when assessing your application for credit. The lender or credit provider may also look at whether you can afford to repay the loan based on your current income, savings and expenses and whether you have been making any current loan repayments on time.

You’ll also need to meet the lender’s internal criteria that assesses whether the lender considers you can afford to repay the loan. If you don’t meet a lender’s criteria, they may not approve the loan, no matter what your Credit Score is.