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Don't just assume that the minute you apply for a credit card, you'll get approved - it does not work that way, many people get denied. You may have been turned down for many reasons and there is definitely something you can do about it - so don't get upset if you have been rejected. 1. You should find out exactly why you were denied for the credit card. If the company used a specific bureau's report to make their decision, you have a right to know the contact information for that bureau. Some of the reasons people get denied... # Not enough "residence" history # Not enough employment history # Low income # Bad credit report 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've been denied more than once, the best advice is to wait a few months first before applying again, maybe at least 4-6 months. 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. Contact the agency right away and ask for your credit report. The law says that you are entitled to a free copy if you get turned down because of their report. You need to immediately check for accuracy of the report, it's estimated that over 40% of reports have errors. As soon as you find the error, be sure to contact the agency with proof of the error - they are required by law to fix it. 4. If you think it was that error that caused you to get denied, ask the agency to send a corrected report back to the place you applied and ask that place to re-consider - most will!
Article Source: http://www.philvault.com
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