Despite a 798 Credit Score, They Were Denied a Personal Loan Due to a Repeated Unusual Error.

Credit Score vs. Loan Approval: A Reddit user with a 798 FICO score was denied a personal loan due to low reported balances on revolving accounts, despite having a long credit history and never missing a payment.

Impact of Credit Utilization: The user paid off their credit card balances before statement closing dates, resulting in a 0% credit utilization rate, which made them appear inactive to lenders.

Advice from the Community: Commenters suggested that allowing a small balance to report each month would demonstrate responsible credit usage, as lenders prefer to see some level of debt management.

User's Plan for Improvement: Acknowledging their mistake, the user plans to carry a small balance and pay it off after statements to improve their chances of loan approval in the future.