Is there a list of common reasons for credit denials/rejections?

[advokate]

I'm assuming the Bureaus require exact reasons to be provided? Or does each furnisher just come up with whatever they feel like?

[Brian_Earl_Spilner]

Lenders are required to give a reason. It doesn't have to be a good one.

[coldfusion]

There is a standard and validated list of (approx 80 IIRC) legally allowable phrases that a US issuer must select from when outlining the reason or reasons for denial.    You're going to get what some automated algorithm, or analyst that has only seconds to make their credit decision and finalize it, selected from that list as being what most accurately explains the rationale for the outcome.   Creditors are allowed a pretty fair amount of poetic license as to which of the available phrases they choose as most accurately explaining the rationale.

[FireMedic1]

Reason codes or adverse action codes, a creditor must include up to four if it's used your credit score in deciding not to approve your application. Some notices just list the statements. A creditor might also decide not to approve your application based on factors such as your income or debt, which are harder to control.

Its a PDF below from FICO with all kinds of reasons and so on. They could have had it in lansdscape mode. Stiff neck!

https://www.fico.com/en/resource-access/download/3425 

[CCrew]

Forgive me if external links aren't allowed, but this is direct from Vantage: 

[FireMedic1]

---

@CCrew wrote:

Forgive me if external links aren't allowed, but this is direct from Vantage: 

---

@CCrew Thats allowed. Although we speak FICO around these parts for applications and reason codes as the OP inquired about. Vantage really isnt used for credit approvals/denials. Ton of creditors give free Vantage scores monthly. Good info though.