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Too many people assume that they will get approved for a credit card right away just for applying. But, remember, credit cards do a very good job researching your background, many people get denied daily. There can be many reasons for getting denied for a credit card, don't get down on yourself if you do - there are many things you can do. To start, you have to find out why you were denied? 1. You have a right to find out the specific reason you were denied for the credit card. If a credit report was used to help make the decision, then you should get the name and address of the agency that supplied it. Here are some reasons for getting denied... # You have not lived in your current house long enough # Haven't had your job long enough # Your income is too low to meet their required minimums # Some information they did not like from the credit bureau 2. If the reason for your denial is unclear to you, then call the company for clarification. What were the exact reasons? What were the exact standards that you did not meet? If you apply for credit again and are turned down, then this reflects poorly on your credit report. If you get denied a few times, don't keep applying - this can hurt your credit score. You should wait at least 6 months before re-applying. 3. Remember, the law requires that if you get denied, you have a write to get the full contact information of the bureau who's report was used to deny you and then you have a right to request a copy of that report. Make sure to get a hold of that bureau right away and get a copy of your credit report - by law, you are entitled to a copy at least once a year. You should check it almost immediately because it is estimated that over 40% of reports have costly errors on them that can be corrected. If you find an error, you should contact the company right away with proof to get it fixed. 4. If it was the errors that led you to getting rejected, ask the bureau to send the corrected copy back to the place you got rejected from. The lender should then reconsider your application.
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