What You Can Do When Your Credit Card Application Isn't Accepted (cont.)
Contributed by Deborah Zeitler
You don't have to accept the results of your credit report
If you've never seen a copy of your credit report before, there's a good chance that you may find that it contains information that is either not up-to-date, or perhaps even outright incorrect. You don't have to accept mistakes on your credit report. If you think a mistake has been made on your credit report, contact the credit reporting agency that sent you the report and dispute the item in question in writing.
The creditor on the account has 30 days to either come up with proof that the item is correct, and if they can't, the credit reporting agency will change the information in the report.
Accept that now might not be a good time for you to get a credit card
If the information contained in your credit report is correct, then there may be a good reason why your application for a credit card wasn't accepted. If a credit card company doesn't consider you to be a good risk, now might be a good time to go over your budget. See if you can get some of your other credit accounts paid off before applying for more credit. In the long run, this may be the best thing you can to for your financial health.
