Why some lenders may dislike your spotless Credit History?

So, you are perfect with your Credit Rating and always pay your Credit Card Bills on or before time. You have a spotless track record with your bank. But still your immaculate Credit History may not be helpful all the time, and your borrowing requests can be turned down by a bank or a financial institution.

One needs to understand that some banks or financial institution are not always keen to do business with a person who has a spotless Credit Rating and who always clears his dues on or before time. The simple reason of it is that these companies fail to make much profit from a person with an immaculate credit.

Financial companies cannot impose additional charges on someone who clears his dues on time. While banks and Credit Card companies are safe about their principal amount with such a person, their goal of generating some extra income out of the money lent to him may not be fulfilled. This is the main reason why your immaculate Credit Rating doesn’t necessarily prove to be a plus point for you to be chosen as a borrower with all the financial institutions.

A person with perfect Credit History can be treated differently by different lenders. And also, different lenders set different criteria to determine who their perfect customer is. Your Financial Status History depends upon a lot many factors and you will never know what about your payment history is liked or disliked by a lender.

A perfect customer’s borrowing request can be turned down by some companies while some will readily approve his application. Some may show their reluctance in offering some specific types of product to a consumer with a perfect Credit Score.

However, maintaining a perfect Credit Rating is always good for securing your financial future.

Your application will always be considered by the lenders and it will be granted as well in most of the cases, leaving in cases of some particular products. In the majority of cases, your Credit Rating will come to your rescue whenever you will be in the financial crisis in your life.

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