Denied credit? What an adverse action notice means

The notice lenders must send when a credit report hurts your application, and how to use it.

What it is

If you are denied credit, insurance, a job, or a rental, or offered worse terms, because of information in a consumer report, you must receive an adverse action notice.

What it must say

It names the company that supplied the report, says that company did not make the decision, and explains your right to a free copy of the report within 60 days and to dispute errors.

Your score and reasons

If a credit score was used, the notice must include the score and the key factors that hurt it.

What to do next

Request the free report, check it carefully, and dispute anything wrong. The listed key factors also tell you what to work on.