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Online tool tries to demystify credit score ‘reason codes’

Kelly Dilworth

By law, lenders are required to send you a free copy of your credit score if they reject your application. Along with the free score that lenders are supposed to send you, you should also receive a brief summary or “reason code” that, in theory, explains why your credit score is low.

But for many loan applicants, the codes they receive are so cryptic and jargon-heavy that they’re nearly as bewildering as the scores themselves.

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