What To Do If Your Credit Card Application Is Denied
Applying with the wrong name on a business credit card dont try and immediately re-apply for the same credit card. If this still doesnt work and your application is denied thats OK.
Try for a different credit card.
What to do if your credit card application is denied. If your credit card application is denied there are several actions you should take. Knowing why you were denied for a credit card is beneficial. Request Your Free Credit Report.
If youre interested in talking about credit card applications check out the credit card application board. If you have bad credit or no credit consider applying for a secured credit card which is a card that requires a security deposit. The letter can explain the reason why your application was rejected.
Heres what to do when your credit card application is denied. If you have decent. I selected the Chase Freedom Unlimited and entered all the relevant details.
Improve your credit and reapply. When a credit card issuer denies your credit card application it can feel like your entire financial life is being judged by someone youve never met. But rather than dwelling on the rejection the most important thing you can do is to find out why your credit history was lacking and change your situation accordingly.
You build credit by using it responsibly. Sometimes this happens instantly other times you will have to wait for a letter in the mail. 1Review your personal and business credit reports The Fair Credit Reporting Act allows you to request a free copy of your credit report if youve been denied credit.
Youll generally want to wait at least three to six months before trying again. Secured cards offer basically guaranteed approval because your deposit serves as your credit line. Unless theres a specific mistake you made ie.
Resist the urge to. Apply for a lower tier card If you do not get approved for a credit card after submitting a couple of applications you might want to apply for a store credit card most of which are easier to get than the average consumer credit card or simply place a security deposit on a secured credit card. If youd like to view your credit reports.
First read the letter that they sent you explaining why your app was denied. If you are denied credit you can take a few steps including. When your credit card application is denied because of information on your credit report youll have 60 days to request a free copy of the credit report used in the decision.
I logged into my account and clicked on the section titled credit cards. Typically when you are declined for a credit card the system will tell you why they were unable to approve your request for credit. Read the Adverse Action Letter Adverse action letters are documents that creditors provide to applicants when an application for credit is denied.
After a hiatus of almost 7 months I decided to apply for a Chase credit card. Call the card issuers reconsideration line. If your credit use is too high then pay down some of your balances before reapplying.
The credit cards board is your place to discuss many different credit card-related topics ranging from credit card basics to reward structures and everything in between. To get your credit report you must submit a written request to the credit bureau that furnished the information a creditor used to deny. To my surprise my credit card application was denied instantly.
If your credit card application is denied waiting three months before applying for your next credit card could help improve your chances of getting acceptedespecially if you use that time to.
