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Deny Credit If Report Pulled Over 6 Months Ago?

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Can credit be denied based on a credit report pulled over 6 months ago or should a new report be pulled? (In this case, the credit requested 6 months ago was denied and now a new credit request has been received.)

Why would you even consider it? First, look at your contract with the credit bureau from which you get your reports. Likely it does not allow re-use of credit reports for subsequent applications. Second, if you originally denied the customer based on information in their report and it was in error and they have spent the last six months getting it corrected, denying them on 6 month old data is just not the proper thing to do.

First published on 12/31/2017

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