Although borrowing from banks seems to be quite difficult lately, it is actually quite easy if you follow bank policies. If you have not experienced a problem between banks, there is no obstacle to using the loan if there is no disruption in your payments and your credit rating is positive and high.
However, there are some situations, even if your credit rating is high, you may have difficulty in attracting credit. One of these cases is the number of loan applications. Applying for a loan, applying repeatedly, will reduce the credit rating, as it will be seen by other banks, and can be regarded as a negative situation during the credit withdrawal phase.
What is the number of loan applications?
The number of loan applications can be considered as the total sum of the loans you have made to banks. If you have made an application from a bank, you should remember that this application will be seen by all other banks. Since all the applications and results you make on the common screen of the banks will appear, unfortunately, your frequent applications will unfortunately reduce your credit rating considerably. For this reason, the possibility of using credit will be reduced for those who have more applications.
For example, all transactions you make in a bank are recorded. These records are shared with all banks and a credit registry is created. Applying frequently and especially rejecting these applications will be reflected on the screen of the bank employee when you apply for a loan from other banks and the possibility of approval of the loan will decrease. In this case, we have discussed what to do in the continuation of our article.
Number of Credit Applications
If you want to know about your past loan applications to banks, there are some ways to do this. Banks can record your transactions for a certain period of time and communicate them to you. If you would like to inquire about the number of loan applications and learn, you can choose the following steps.
Customer Service: You can call the bank to which you have applied for a loan and learn about the bank applications you have made between certain dates. If you wish to receive these applications as a document, you can request that the details be sent to your e-mail address.
Internet Banking: If you use one of the internet banking products at the bank where you apply for a loan, you can learn all of your loan applications along with your customer number. At the same time, you can learn the applications that you have made from the inquiry page of the application results from the banks’ websites.
Number of Applications Learning and Application Details
During the course of learning the number of loan applications, if your number of applications is too high, you should wait for a while to delete them. The number of applications is deleted on average between 3 and 6 months and is removed from the common screens of the banks. However, if you want to use credit without waiting within this period, you can take a look at our list of banks that give credit to those who have more applications, you can use credit without waiting. In addition, we should remind you that the credit rating should be higher than the number of applications.