Answer: Rationalization
Explanation: When individual's try to hide their true feeling or emotion especially when they encounter disappointment, failure or make irrational decisions. An individual may seek to give a somewhat positive meaning to a situation which is illogical or when faced with certain circumstances which are clearly disappointing. In the scenario above, Jack tries to use Rationalization as a defense mechanism after encountering disappointment in his loan application by downplaying the importance of achieving success in his application and making justification that, the disappointment encountered was better than attaining success.