Why Applications Get Declined

As unwelcome as they are, most of life’s rejections happen for a reason. And it’s no different when it comes to credit cards. If you don’t meet the criteria, you’ll be rejected. But if you do meet it, you are more likely to be accepted.

“Good evening, Sir.”

To see if you are right for them, credit card companies normally score your application, awarding points for: time with your bank, income, level of debt, time at address, and your credit history. This is the record of your past borrowing and how you’ve managed the repayments over the last six years. If your application is rejected, it could be because your total score isn’t enough for them, or that something in your credit history put them off, such as missing payments, county court judgments, or that you have too much debt already. But remember different credit card companies are looking for different things, so it is a matter of finding a card provider who’s looking for someone like you. Meet their criteria and you are more likely to be accepted.

For some general tips on boosting your credit score, click here now. If you got a less perfect credit history, click on the scary bouncer. That’s the one on the right.