TWO POWERFUL STRATEGIES THAT CAN GET YOUR APPLICATION APPROVED

Credit checks are requested by banks, lenders, and other creditorsto see if there are negative items in your file. The more negativeitems you have, the less your chances of credit will be. As we haveseen, creditors look for stability and reliability in an applicant.A steady source of income will receive a high score, but even moreimportant than an income amount is a creditors belief andperception that you are both willing and able to pay back a debt.

In other words, even if you fail to pass certain criteria orformulas, your application can still be approved on another levelthat will get you the credit you want no matter what a scoring system profile says.

Extending credit to customers is the way the creditors make money.If you convince them you are a good risk they will give you whatyou want. Basically, there are two ways you can achieve that goal.

1) You can bypass the normal scoring methods that are used byimpressing the person your application that you are sincere,reliable, stable, and have the ability to make monthly payments ona loan or credit card account.

2) You can tailor your answers to the applications questions and inthat manner fir into the right scoring mold of what a good creditrisk is, according to the formula they are using.

That doesn't mean you should lie on your application. It simply means you should be aware that being compatible with certain stereotypes will work in your favor. remember, a creditor can still verify the information you list in an application. Still, many people the truth to put themselves in a favorable position. For example:

1) Some applicants will list their parent's, a friend's or a relative's address as their own residence and indicate they have lived there for years, knowing it probably won't be checked.

2) Provided an applicant has a friend or employer who will go along with the, he can list a position and salary they don't really receive. Then when the creditor calls to verify employment the friend will support what the application has claimed to be true.

3) Another way applicants instantly increase their salary is to set up their own corporation. After issuing themselves private stock with an inflated value, they list the stock as part of their
salary.