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Refusal

Definition of 'Refusal'

A refusal is another name for a decline, or being turned down for credit. It is sometimes called a credit refusal, or credit application refusal.

A refusal is bad news by any name, but it is important to note that refusals are not recorded on credit reports.

Lenders can see evidence of credit applications that have been made, as searches will be evident on the credit report, but just because an account is not subsequently listed on the credit report, this is not taken as evidence of declined credit. This is because the applicant may simply be shopping around for the best credit deal, and no-one can be penalised for that.

To reduce the risks of a refusal, use our free Find a Credit Card service which uses your credit score to match you up with the lenders who are most likely to say yes.

Use the links below to locate the term you are looking for. If you can't locate it, please get in touch.

Credit Jargon Starting 'G'

Credit Jargon Starting 'I'

Credit Jargon Starting 'J'

Credit Jargon Starting 'L'

Credit Jargon Starting 'M'

Credit Jargon Starting 'S'

Credit Jargon Starting 'T'

Credit Jargon Starting 'V'

Credit Jargon Starting 'W'

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