You may already be aware that you have a derogatory mark on your credit history. For example, you may be aware that you recently defaulted on a regular payment or declared bankruptcy. Maybe you applied for a credit card or a loan and were turned down. If this is the case, don't let it drop. Inquire with the lender as to why you were denied. According to the Consumer Financial Protection Bureau, the lender is required by the Equal Credit Opportunity Act (ECOA) to give you the particular reasons it assessed you as uncreditworthy.  In some instances, many lenders will send you this information. If a lender does not provide it, you must request it within 60 days of refusal. The reasons can serve as a warning sign that you have derogatory marks on your credit. To find out for sure if you have derogatory credit, you should look over your credit reports.  Once you've got your hands on your free annual credit reports, go over them to look for any derogatory notes. You can come upon a list of derogatory credit ratings. Equifax, for example, includes a segment on its credit reports that lists "negative information." Other credit reports may have derogatory marks adjacent to relevant accounts.