Why Was My Application for a Credit Card Denied?
Contributed by Deborah Zeitler
My application for a credit card was denied - now what?
If you recently had a credit card application denied, the very first thing you need to do is get a copy of your credit report. If you think that your application should've been accepted, you can't even begin to argue your case with the credit card company unless you're completely familiar with your own credit report.
What if I think they made a mistake when they denied my credit card application?
To understand why your application was rejected, you first need to understand what criteria a credit card company uses when determining whether or not to issue credit. Once you understand a little about what they're looking for on your credit report, your future credit card applications are far more likely to be successful.
Should I put in an application for a different card?
Be careful not to fill out too many credit card applications. If your credit history is less than optimum but not too bad, and you think you might have a better chance with another credit card company, then by all means send another application to that company. However, if you're rejected a second time, you probably need to just spend some time trying to improve your credit history.
Continue to make payments on time on the credit cards you already have, and this simple act alone will slowly build up positive credit for you. Unfortunately, there really is no 'magic bullet' when it comes to improving your credit history.
