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How does credit history affect loan approval?

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Before lenders issue you a loan, they have to look at your credit history. If you have a negative credit score then you may be denied a loan.

Lenders get your credit score from credit reference bureaus which form part of the loan application review process.

Your Credit history has the following details about you:

  • Your loan repayment history
  • Your outstanding debts
  • Your credit limit
  • Credit score

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