5 reasons you could be declined for a Credit Card
It happens every day. You take 5-10 minutes of your time to complete a Credit Card application only to be declined. It’s probably happened to everyone at some time or another, even people with perfect Credit Scores can be declined by some Credit Card providers.
The top 5 reasons a Credit Card application is declined.
1. A poor credit history
2. Your partner has had financial problems
3. You’ve been a “credit tart”
4. Register to vote at your current address
5. Your credit score is too low
The above 5 reasons are the most common reason a Credit Card provider has declined you. Remember, Credit Scoring is nearly always down to a Computer. Each piece of information you supply and information that the Credit Reference agencies provide about you is scored.
To give you the best possibility in being accepted for a Credit Card, make sure you keep your applications to a maximum of 2 every six months, Make sure you are registered to vote (contact your council for details) and keep up all repayments on any Credit agreements you have. It’s a time waiting game, but if you are sensible with money then the chances of being accepted for a Credit Card are increased.
There is no way to cheat the system, if you Lie on a credit application you could end up having your details stored by CIFA’s.
If you have no credit and want to start, may we suggest you opt for a T-Mobile Solo light sim card, it’s a pay monthly sim card starting from only £10 per month but can increase your Credit score as it shows you can manage a Credit repayment on time. Read more about it here.
Short URL: http://credit4everyone.co.uk/?p=569
Posted by credit4everyone
on Mar 4 2010 Filed under Our Guides.
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