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What Should You Do if You Get Turned Down for a Credit Card?
So you’ve gone through the long and terrible process of giving your details, only to find that you got turned down. This can feel a little insulting, like a rejection, especially if you feel like you could easily handle the card in question. So what can you do if it happens?
Try, Try Again.
Don’t get upset if you’re turned down at one company – they might have some strange requirement that you happen not to meet. Always try three before you start to despair.
Whatever you do, though, don’t spend a whole day applying for every credit card you can find, just to see if anyone will take you. Each check is counted, and lots of checks on your record make you look desperate, making it even less likely you’ll get a good card – this is known as ‘shotgunning’ your credit.
Get Your Credit Report.
Send off to the credit reference agencies to get copies of your credit reports. There might be something incorrect on there that’s making you look bad, and you need to get it corrected if there is. Make sure you do all this in writing, so there are records of it – don’t phone up and let them fob you off.
Phone the Company.
It’s not a good idea to always deal with credit card companies by post or on the Internet – you should try to phone them up and speak to a real person. This way, you can tell them all your circumstances, make sure everything went through correctly, and question them if you get turned down. If you directly ask why you haven’t been accepted, then they usually have to tell you.
If you’re willing to be pushy, you might even get the decision reverse. If the person you got through to won’t budge, then always ask for their supervisor before you hang up.
Apply for a Less Prestigious Card.
Yes, I know, it sounds bad – but you want a credit card, don’t you? Get a high-rate card from the company whose card you want, and then pay it off on time each month. You’re building your credit rating. The chances are that you’ll be able to persuade the company to replace your card with the lower-rate one after a few months.
If you have a very bad credit rating, you might find that you are only offered secured cards. These cards require you to make a cash deposit before you can start using them. It’s worth saving up the deposit and using the card for a while, though, as you’ll usually be offered a normal card quite quickly, as long as you don’t do anything terrible with the secured one.
If that all sounds like too much trouble, then you might like to try a pre-paid credit card. These cards must be loaded with money in advance, but from then on work like a normal credit card – except you don’t pay any interest or fees! Well worth it if you only wanted a card for the convenience anyway.We recommend the following credit card and debt resources. They are highly reputable and will help you in choosing the best available solution for you, as well as in finding the best credit cards around.
Credit Card Resources
CreditAxis guarantees anyone a bad credit loan or credit card approval through their directory of little-known lenders. They also offer a unique credit repair kit and a do-it-yourself bankruptcy filing kit. Their information is applicable to residents of the U.S., Canada, and the UK.
LowerMyBills is a comprehensive service that helps consumers lower all their monthly bills, all in one spot. They offer a broad range of savings opportunities, with a special focus on home loans. LowerMyBills has established itself as leader in the online comparison shopping marketplace.
Debt consolidation is one of the hottest offers online today and DebtAdvocates.cc (from Intermark Media) is the first in the industry to give consumers the choice to either consolidate or eliminate their debt - based on their financial situation.
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