Why are my credit card applications denied?
New regulations passed in February of 2010 making it much harder for anyone to get a credit card. Now you must have stable employment for at least 1 year, be over 21, and have sufficient income to support a card. Don't apply for any more credit in the next 6 months. These inquiries if compounded damage the credit rating. Check your credit reports for free once a year (all 3) at: Annual Credit Report.com https://www.annualcreditreport.com/cra/i... Make sure there are no errors. I would get a secured card. Just make sure you replace the money in full each month - no games of carrying balances that can easily reduce credit. Do you have large amounts of cash? Make a secured loan. You deposit $1,500 to $3,000 into a savings or a cd and you make a 1 year secured loan against it (much faster than a secured card to develop credit). Tell your bank what you are trying to do ahead of time. Make sure your bank is large enough that it reports either your secured card or secured loan to the 3 bureaus
Why was my credit card application denied...AGAIN?
I am beyond pissed off. I recently applied for a Discover card only to be turned down. I am a 35 year old college grad, I have owned my home for 3 years, the mortgage is current and in good standing, I have a personal loan that is current and also in good standing as is the monthly monitoring on my security system. There are 2 medical bills on my credit but that's it. I paid off a lot of medical bills prior to buying my house, the 2 are recent. I have NEVER had a credit card; they have always been denied. I am starting a new job next week so that may be one reason, but what I would like to know is why my husband can get a credit card when he has a car repo in his past, a $3,000 bill at a jewelry store that's been turned into collections (prior to my meeting him), several credit cards he got with his ex wife that are in default, he has a card right now that has a balance and was closed by the company because of it. The ex wife defaulted on those cards with my husband, has no job, has moved at least a dozen times in 9 years, had 4 cars repoed (at least) and she shows up with a new car a month or so after the repo. HOW IN THE HELL DOES THAT HAPPEN? How can people like that get a credit card but I can't? I do not understand it. It's not like I'm out running up these huge debts, medical bills are an unexpected expense.
First open a secured credit card from the bank which you have checking/savings account. Initial credit limit may be less like 500$. But this is good enough to begin with.Always use your card wisely. Try to pay the bill on time and maintain credit utilization around 10-20%. Some banks like chase, they won't approve your application if you are new to the country like student or came to US for work. After one year only they will approve your application.Try to open secure credit card (or store credit cards like Macy's, gap, etc...) and once you accumulated some history you can again open some no annual fee card. Once you got some idea, you can go for annual fee credit cards, because it has more benefits.I have started with Bank of America secured credit card with credit limit of 500$. Now I am having 6+ cards and my current score is 780+Some banks like chase have their own rule, if you have opened more than 5 cards in last 24 months your application mostly will have get rejected, but not always:) but in your case this is your first application.. Hope my answer gave some overview about credit cards..
Credit card issuers not every time tell on the spot why they rejected your credit card application. Here are some possible reasons for rejection of credit card application; and those are Low Income, Too High Loan Balances, Many Credit Cards, Too High Credit Card Balances, Limited Credit History and etc.If you was recently applied and rejected then, first of all improve your credit score before the next application. You can check Get My Offer Redirect reservation number that helps you to case study. For more details also check Get My Offer Redirect Reservation Number and Access Code, and all the best for you new credit card.
Why Citibank declined my credit card application??!?
THIS IS THE OPPORTUNITY YOU HAVE ALL BEEN WAITING FOR. THE EMBER MONTH QUICK LOAN IS HERE FOR YOU CHRYSLER FINANCE LOAN COMPANY. They offer loans to everyone even to those with bad credit,they offer the following loan processes; 1: House Loans. 2: Auto Loan. 3: Student Loans. 4: Business Lonas 5: Personal Loans. With a 1-20 years repayment duration period to any part of the world, here everyone gets approved, * Are you financially squeezed? * Do you seek funds to pay off credits and debts? * Do you seek finance to set up your own business? * Are you in need of private or business loans for various purposes? * Do you seek loans to carry out large projects? If you have any of the above financial problems, CHRYSLER FINANCE COMPANY is your very best solution. Email them via: chryslerfinance@hotmail.com
The impact on the credit score would depend on the reasons for which your credit card application is rejected. If the application is rejected due to document insufficiency, you would most likely don’t see a dip in the score. However, if you have applied at multiple banks, it would invoke multiple hard credit enquiries, taking some points off your credit score, particularly when the application is declined. Maybe by not much, but the impact would be there. In case your application is declined, you would be served better not to apply anytime soon as the score will come down further. Maybe a year later or so, you can apply and hope to get an approval.Secured Credit Card - The Option Available to You Amid Application RejectionSecured credit cards are one of the options availed by many on not getting the approval for the conventional unsecured credit cards. You can get the secured cards against the bank fixed deposit and enjoy a credit limit of up to 80%-90% of the deposit value. In fact, it’s a good way to bring your credit score up while also enjoying a lower rate of interest on revolving credit.
Applying for a Credit Card - Question about getting Denied Twice?
Definitely do not apply twice for the same offer, the salesman doesn't know what he's talking about. You should either try applying for a credit card that you have better chances of being approved or not apply at all. I looked through the official credit card database for you and here's what I found: If you are a student and this will be your first credit card than you would probably get approved for the the Discover Monogram Collection Student card. This is by far the best first-time credit card and end up recommending it to everyone and it seems to work out well. Here's what it offers: -No annual fee -No application fee -Unsecured line of credit -Over 100 free card designs -0 APR for first 6 months (then only 14.99%) -And best of all, Cash Back rewards up to 5% (might be even more when you use it in Best Buy. Go here for more info: http://www.ccdb.com/card/p/62 Let me know if you apply for it and get approved, I want to see if I was helpful. Best of Luck!!! Dmitriy Credit Card Junky
Why did I get denied for a student credit card?
Credit history is built from paying back loans, not from just having them. A credit history is whether or not you paid your bills on time. If you just got the loans, they are not even in your history, yet. Credit is based on your "ability to repay"(your income), what you have borrowed and your history of paying back the money. The reason why you got turned down for the credit cards, is because there is no history to show, if you will pay your bills on time. The best thing to do is go to a local bank where you have an account and ask to speak to someone about a "secured credit card" they are the easiest to get and they have a much lower interest rate than a regular card. You need to speak to someone in person, so that you can have your questions answered about having a credit card. You need to know what you are getting yourself into, and an internet application, can't tell you that. It is better, not to apply for your first credit card over the internet. Go to the bank in person for your first one.