What is the credit approval process?
After applying for credit, such as a credit card or loan, you must be approved. Credit lenders want to be confident that you are able to pay them back. Lenders will evaluate your past payment habits to determine if you regularly default on your payments, or if you are dependable and pay on time. Lenders also look at your income and current debt to determine if you will be able to make your payments. The last thing lenders will evaluate is your character. They look at your stability such as your current employment and other public records to determine whether or not you are trustworthy.
