Denied Credit Card Applications

If the card issuer turns down your application for a credit card, ask why. You have a right to know the reasons behind their decision. Ask for the contact details of their credit bureau, who will be able to offer you a copy of your credit history for an administrative fee.

You may need to seek a card issuer who deals specifically with higher risk customers if your credit history contains accurate negative entries. Sometimes a mistake can be found in your credit history - you should contact the credit bureau for information on how to correct these mistakes.

Here is a list of the most common reasons for the denial of credit card applications:

• Poor credit history logged with the credit bureau
• Poor history with previous credit or banking from the same organisation you are applying with
• You have recently started a new job, or work as a contractor, consultant or home worker
• Your have recently changed postal address, and have not lived in a residence for over 1, 2 or 3 years
• Your annual salary or income does not meet the criteria of the card issuer

Either apply for a credit card with another issuer, or work over a period of 6 months to improve your credit history. Keep in mind that each time you are denied credit, it is also logged on your credit history and may reflect badly on your credit risk.