Having a credit card is fun and exciting. A simple plastic card that can take us anywhere in the world. There are many benefits we can get when using credit card such as online convenient shopping, paying our monthly bills, paying for plane tickets, stuffs, groceries, etc.
However, applying for a credit card will take time. There will be a certain procedures before you get approved. Make sure you know you’re qualified and have the necessary requirements.
Applying for a credit card, but you’re application was not getting approved? Here are some of the reasons why credit card application denied. Using a credit card is exciting, but, not everyone can issued a credit card by the bank. Banks are very careful in choosing a clients (the credit card holders).
They investigate and make a research about the credit background of their client. If you think a credit card is not for you, consider applying for a debit card. To have some ideas which is better, compare debit card and credit card here.
If you’re not getting approved, read this and increase your chances of getting approve the next time you apply for a credit card. After you read this and you think you will not get denied or your application will not declined, start thinking deeply if how will use you use your credit card wisely.
Some Reasons why Credit Card Application Declined
- You’re not at the right age to have a credit card (minor). Unless you have a parental consent. Your parents will be the one to apply a credit card for you.
- When filing your application, you forget some personal information. It is very important to write legibly. Use upper case letters for better reading. Incorrect spelling of your personal information might be the reasons for application denial.
- Credit card companies wants their credit card holder to stay longer in their job, your chance in applying for a credit card is high if you have a permanent job or business.
- Banks and credit card companies don’t easily approved those clients with many current credit cards.
- You have a high balance on your credit cards.
- Your loans (debts) are too high. Pay or lessen your debt first before you apply for a credit card.
Tips and Warnings
Apply for a credit card when you have a permanent job or stable business. Pay off all your debts. Keep your credit score good. Apply for a credit card if it’s only needed. Use your credit card wisely. Don’t use it just to impress other people. Don’t use it for “impulsive buying”. Use it for your “needs” not for your “wants”.
So, do you have any other reasons why some people aren’t getting approved when applying for a credit card? Share some reasons and your experience in applying for a credit card.