Rejected... How Will This Affect My Credit Rating?

shauniemac

I am a student at college and earn about £3500 a year, obviously being in full-time education I do not have a high income. I saw that Amazon credit card and thought it looked really good. I was declined, which wasn't much of a surprise. So, I am now worried that my credit rating will be affected, if so, how badly? Will this blotch on my credit rating ever go away? What do you suggest I do next?

I think I will be needing a credit card for Uni, which I will be starting in September 2006. Do you think I will be able to get one then?

Thank you for replies

muffle_2

There will be a record of a search on your credit report for a period of 12 months. It will be taken into consideration by other lenders but it's not a big deal unless you have lots.

pcyam

As you will be starting uni in september i presume you are only 18, if so, dont be surprised if you get turned down by credit card companies as you do not have a credit history for them to rate you on. being declined for one credit card will not affect you so dont be worried.

If you really want a credit card, i suggest that you go to someone which specifically offers you a student credit card, but be warned some may have a higher interest rate on them (simply because your a student).

If your not desperate for a credit card now, I would suggest that you wait till about september time so you can build up a little credit on your bank account now (as your 18). and then apply for a credit card with your current provider.

Or if your parents are willing to, ask them if they are willing to open a credit card and have u as the second card holder (but they need to be aware that they are responsible for paying for the debt)

hope this helps.

Debt_Free_Chick

Just to clarify, your credit record will not show you were declined ..... the decisions don't show up - just the searches