In this paper we use the ‘double hurdle model’ approach to analyze the determinents of consumer lending. The logic of hurdle models is that one has to pass hurdles before observing an individual with positive quantities of consumption. For example, for durable goods purchase, the hurdle to be passed is the decision to buy. Credit offered to consumers can be looked at in a similar fashion, where the positive quantities are observable only for those who needed credit, chose to apply, and awarded credit. We use this approach and 1989’s Survey of Consumer Finance (SCF) to analyze the nature of credit constrained customers. SCF has self reported indicators of who do not want credit, who are discouraged from borrowing and those who apply and are given credit. We used this sample separation information to estimate a 3-level sequential probit model, by method of simulated maximum likelihood and identify important determinants of credit denial and acceptance in the loan market.