Mostly each creditor has an established set of guidelines and rules for extending credit to you.
A creditor will usually require a complete application including but not limited to: your income, your employment & history, current expenses, references and your credit history.
The creditor will subjectively review it, (if you are that lucky since most decisioning is automated today) and make a decision for or against giving you credit based upon their own review criteria.
You most likely will never know what the decision making criteria consists of.
This is not an OBJECTIVE decision.
It is SUBJECTIVE decision.
That means, the creditor may make any decision he wishes, except where the law dictates his actions (as in race, color or creed discrimination).
So your FICO credit score is only one of many facts that the creditor will consider in reviewing your application and granting credit to you.
If you are denied credit, this will impact your score.
My assignment for you today is:
Have you created a list of expenses (in excel or even on paper) you can easily reference if faced with a lending decision?