Possible Reasons for Loan Rejection Even With a Credit Score of 750

Credit score plays a crucial role in getting loan approval. Since it indicates your credit history and repayment habits, lenders rely on it heavily to determine your creditworthiness and decide whether to approve or reject your loan application. However, if you have a credit score of 750, does that guarantee your loan approval? The answer is NO! Apart from your credit score, there are several factors that lenders consider while scanning your loan application. Some of them have been discussed below.

Applicant’s Age

Every lender has a limitation on the applicant’s age within which they grant loans. If you are less than the lender’s minimum age limit or more than the lender’s maximum age limit, your loan application will be rejected straightaway without any second thought. So, check your lender’s age requirements before applying for their loan.


Even if you have a high credit score of more than 750, the lenders will want to ensure that you have a stable income with which you can conveniently manage your monthly EMIs. A high debt-to-income ratio indicates that you have high chances of missing and delaying repayments. If the EMIs consume a large part of the applicant’s income, the lenders will consider it as a red flag to approve your loan.


Lenders usually prefer applicants with a steady job and regular income. That’s why most of them want to see your last few month’s salary slips. If you keep changing jobs after every few months, you may lose your job any time and start missing loan EMIs. Lenders like Clix Capital require the applicants to have a monthly salary of at least ₹ 25,000 and employment in the last job for a minimum of 6 months for a personal loan. Your source of income also plays a crucial role in determining your loan amount, EMIs, and loan tenure.

Other Debts You Owe

Lenders also look into other debts you owe at present. If you are already heavily indebted, the lenders would suspect if you would be able to adjust more EMIs within your income. Even a minor financial crunch can make it difficult for you to pay off your EMIs, and you have higher chances of defaulting on your payments.

Ideally, your EMIs should not be more than 30-40% of your monthly income. If your debt payments are more than that, lenders may end up rejecting your loan application.

Recent Loan Queries

If you have recently made so many loan queries and applications from different lenders, they show up on your credit report and reduce your credit score. Too many loan queries indicate that you are in dire need of money and are not in control of your finances. Such an applicant has higher chances of defaulting on payments in the near future.

When you apply for a loan, lenders go through your credit report to check your credibility. When they do that, they come to know how many loan applications or queries you have made recently. If they are too many, you may have your loan application rejected despite having a credit score of 750.

Check your credit score and know where you stand. Even if you have a credit score of over 750, don’t be assured that your loan application will be approved. Several other factors come into play. Check the lender’s eligibility conditions and documentation requirements before applying for a loan. Clix Capital offers home loans, personal loans, business loans, and other loan products to applicants having a score of above 750. However, check the above factors too to get your loan approval.

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