New Delhi, Sept. 15 -- Did you apply for a loan, and it got rejected? You should not lose heart because it is usual for the loan application to get turned down. It could have happened because your credit score was poor or perhaps you did not send your bank statement with the application.

There could be several reasons for the loan application to be rejected.

I. Poor credit score: One of the most common reasons for the loan to get rejected is a poor credit score. This could be an outcome of default in payment and delay in payment of credit card bill. Generally, lenders decline loan application when the credit score is lower than a decent credit score i.e., 650.

II. Wrong lender: Sometimes, a loan applicant applies for a loan with a lend...