What does a “study” credit decision mean? After making a credit request, information is sometimes obtained from a credit study decision. What does that mean exactly? Is this credit accepted or credit denied? We will explain everything about credit decisions.
For those who want to know right away what a “study” decision means on a loan, it is a loan that is refused in the vast majority of cases. There are still solutions in this case. By going through an online credit application allowing you to question several organizations directly, you can find out if your project is feasible.
Credit decision making explained
Before understanding in detail what a credit study decision is, one must understand the conditions for accepting a credit. Financial institutions always use the same broad principles to make their decision on loans.
To make their credit decision, credit agencies use several techniques. First of all they make you fill out a questionnaire to know in detail your situation. They will first apply direct and sometimes legal rules that will give an obvious credit refusal. This is the case, for example, for minors or for people on file.
Then they will apply more “calculated” credit rules. They will define for example your debt, your remainder to live (income less expenses) or even the remainder to live by person. Again, these rules will allow a declined credit decision.
Good to know: all the information declared in the credit application form will be verified on the basis of the supporting documents to be provided. There is no credit without proof. The only possibility is not to justify the reason for the credit, for the personal loan without proof or revolving credit. For the rest, you will need to provide a minimum ID, proof of income and domicile (see criteria for accepting a loan).
How the credit score affects the decision
Finally, they will apply a credit score. That is, they will identify if you look like a type of customer they already have. If you are rather recognized as the people who repay well, you will have an accepted credit decision otherwise you will have a refused credit.
To optimize the chances of having a credit decision accepted at the best rate, we have created a unique service. We have developed our own credit questionnaire. But with us, there are no rules, we are not a credit organization, it is not we who make the decisions.
On the other hand, we have developed a credit questionnaire compatible with the largest credit organizations, so that you only have to fill out our questionnaire and it can then be used automatically to obtain a credit decision from the most large credit companies. Our comparison was thought to avoid the credit accepted then refused to the final study. It is therefore connected in real time to the credit decision criteria of the organizations compared.
Getting a favorable opinion: instructions for use
With a view to obtaining the best rate for our customers, we offer the best offers on the market classified by APR rate, the legal rate for consumer credit. This classification is suitable for all types of project, for all durations and all amounts.
Once you have completed our credit questionnaire, you will get the ranking of the best offers and a non-binding evaluation of the cheapest organization. This allows you to quickly find out if you can actually get this rate based on the credit decision. But it doesn’t stop there. You will also be able to interrogate in the same way the organizations offering the 2nd and 3rd best rates corresponding to your project.
Captain Credit is simply more likely to get your credit and more likely to get the best rate.
Study credit decision: what to understand
What does a credit study decision mean? Well, what is certain is that it is not an accepted credit decision otherwise, the credit organizations you will have said it, that is how they earn money! A credit study decision means that credit is refused without necessarily explicit reason. However, the organization can come back to the borrower with a different proposal.
Why don’t they just show you a rejected credit decision ? They do not have the right in the majority of cases (except for example for the cases cited in the first paragraph). Because the decision must come from human action. However, if during an online credit request, the machine takes the decision on its own, this practice will not be respected.
But in a few cases, the credit study decision really means that the organization needs to study your file further to make its decision. You will know a few days later if your credit report is accepted or refused.
To multiply the chances of having an accepted credit decision and to simplify your life, we have developed a unique credit questionnaire that can be used to file credit requests with several organizations with a single click.
Credit decision: the best comparator
As we explained, a credit comparator cannot make a credit decision. And for good reason, it is not he who will really give you credit. However, thanks to our exclusive system, we will ensure that the credit organization sends you its credit decision as soon as possible. This means that you will know exactly what your request is.
Without being a credit organization, we are an intermediary in banking operations and as such, we are officially registered in the national file of Orago.
Beware of adapted credit decisions
What we mean when writing an adapted credit decision is that certain organizations will accept the request but have the rate displayed initially changed. It is therefore necessary to be vigilant about the credit contract that you will sign because it is the rate indicated on this document that makes times.
Changing the credit rate between what is announced at the start and what is written on the contract is completely legal, but since communication is not always easy, we prefer to indicate it.
Beware of false comparators
It is not because you will be able to be faced with a site which resembles a comparator and which offers a classification to you that you should not be vigilant. Indeed, most of our competitors offer rankings that are based only on what they will earn and not on the best rate. To realize this, just look if the rate appears in the ranking. If not, do not trust this comparator and do not try to get a favorable decision at any cost. When a credit is refused by several establishments, there are reasons.