What Lenders Look for When Deciding if You're Creditworthy

If you're in the market for any type of loan or would like to open a credit card account, it's important to know what factors lenders consider when deciding whether or not to give you credit. With that information in hand, you can work to put yourself in the best possible financial position before you apply.

If you're not quite up to par in any of these areas, before applying for credit, take some time to get your finances in better shape. Pay down credit card balances, make all your payments on time, and cut your expenses if possible.

This article is for informational purposes only. For personalized financial advice, you should contact a qualified financial advisor.