Consumer | 6-2 Activating Strategy - Credit Rejection

What percentage of auto loan applications were rejected in 2022?

• 7%

• 8%

• 4%

• 5%

• 11%

Was it easier or harder to get a home loan in 2023 compared to 2019?

• EASIER, the rejection rate INCREASED

• EASIER, the rejection rate DECREASED

• HARDER, the rejection rate INCREASED

• HARDER, the rejection rate DECREASED

Answer explanation

Slightly harder.

The rejection rate increased from 10% (in 2019) to 12% in (2023)

3. Which option is more difficult to get: a credit card or a credit limit increase?

• A credit card

• A credit limit increase

Answer explanation

Card limit increases -- they have a higher rejection rate than credit cards over each time period

Which year were you most likely to be rejected for a home loan?

• 2019

• 2020

• 2021

• 2022

• 2023

Answer explanation

2022 had the highest rejection rate (15%) for home loans.

In 2020, for which type of credit are you most likely to be APPROVED?

• Auto loan

• Home loan

• Credit card

• Credit limit increase

Answer explanation

In 2020, auto loans had the lowest rejection rate (8%).