Not necessarily. The approved loan amount may be lower, or the interest rate offered to you higher. Each financial institution has its own criteria and uses the information in credit reports differently.

Important to know: A common misconception is that credit reporting agencies blacklist people or provide negative opinions. But in fact, credit reporting agencies are neutral as they calculate your credit score purely from your financial history, which includes both the good and the bad. Each financial institution can then interpret and use your credit information differently, in line with their company policies.