If your application is rejected, don’t apply for another loan straight away. With each application, you will get a mark against your credit history. This could make it difficult for you to be approved a little later down the track. It’s important to find out why you were rejected. Most times it’s either because you have a bad credit rating or your income is too low. If you have a bad credit rating, you can rectify that by making sure to pay off any unneeded credit cards and loans, and paying bills on time. If you were rejected due to low income, you will need to increase your income in order to be approved next time.