Credit Card Refusal Help

Olliesouth

Hello

Recently i have been applying for credit cards and been knocked back each time. I have never experience this before.

Can anyone shed any light to why i'm being turned down for a credit card?

Thanks

Oakdene

You'll have to give more information about yourself such as earnings & existing debts/ financial commitments but as a rule multiple applications in a short space of time will be a negative flag from a card issuers point of view as it makes it look like you are desperate for a card...

Ebe_Scrooge

Quite simply you don't meet the lenders' acceptance criteria. And before you ask, no, no-one can tell you what the criteria will be, every lender is different.


There are, however, broad areas that pretty much all lenders will look at :


1. Are you on the electoral roll ?
2. Have you got a steady source of income ?
3. What, if any, existing debt do you have ?
4. Have you got any adverse history on your file ( missed / late payments etc. ) ?


To have a chance of being accepted by most lenders, you need to be able to answer "Yes" to 1 and 2, "No" to 4. Lenders will look at 3 on a case by case basis.


And as the previous poster says, several applications in a short space of time will, in itself, ring warning bells with most lenders.

Dobbibill

Olliesouth wrote: »

Hello

Recently i have been applying for credit cards and been knocked back each time.

Can anyone shed any light to why i'm being turned down for a credit card?

Thanks

This would suggest you have applied for more than one.

I have never experience this before.

This would indicate you already have several.

Therefore what are you current credit limits v your income?

As already said you can be turned down for many reasons but no-one is entitled to credit. Anyone can be turned down.