Have You Been Turned Down for a Credit Card Lately?

Credit Cards are a bit like a plague once everyone around you has one, you know darn well you’ve got to have one too! They’ve become a bit of a fad and even a status symbol. My brother-in-law is a good example. He takes great pleasure in pulling out his wallet whenever we all go out for dinner and wading his way through the dozen or so credit cards at his fingertips trying to decide which one to use. He’s got Gold Credit Cards, Platinum Credit Cards, Air Miles Cards etc. from every possible bank and trust company in the country. One could easily develop a bad case of “credit card envy” just hanging around the guy. Unfortunately (or fortunately, according to a lot of people), not everyone has as strong a credit history as John, and so getting a credit card is not necessarily “in the cards” one might say.

So let’s say you’ve gone through the process of submitting your details to your chosen Credit Card company, only to discover that you’ve been turned down. Your case of “credit card envy” quickly spirals out of control and you feel terribly insulted and rejected. You know darn well you can easily handle the card in question and you wonder what to do next. So, here’s a few things you can do if you’ve been rejected and you are determined not to give up.

First, try, try again. Never get upset if you’ve been turned down by one company it’s quite possible they might have some strange requirement that you don’t happen to meet. Always try at least three credit card companies before you give up in despair.

However, whatever you do, don’t spend a whole day applying for every credit card you can find, just to see if anyone will accept your application. Every time your credit is checked it’s counted, and a lot of checks on your record make you look desperate. This makes it even less likely you’ll get a card because this is called ‘shotgunning’ your credit by credit card companies. They don’t like it, so be careful.

If you consistently get rejected, it might be a good time to get a copy of your Credit Report if you’re sure this shouldn’t be happening. Check with a Credit Reference Agency as soon as you can because mistakes do happen. It’s very possible there might be something incorrect on your report that’s making you look bad, and you need to get it corrected quickly. This has happened to me twice, so I can testify to potential inaccuracies that can affect your credit rating. Make absolutely sure you do all of this in writing, so there are records don’t phone the Credit Bureau because it’s too easy for them put you off.

You can also phone the Credit Card company who has turned you down. It’s not a good idea to deal with Credit Card companies by mail or on the Internet. Phone them and speak to a real person. This way, you can explain to them your circumstances, make sure everything went through correctly, and question them as to why you’ve been turned down. If you ask directly then they usually they have to tell you.

Also, keep in mind that if you’re willing to get pushy, you might even get the decision reversed. If the person you got through to won’t budge from their original decision, it never hurts to talk to their supervisor, especially if you know that you have a good credit history and enough household income to handle a credit card.

If all else fails, try applying for a less prestigious card. Okay, I know, it’s a disappointment that you can’t get that Platinum Card but it may be the only way to get one based on your circumstances. If you have to get a high-rate card to start, pay it off on time each month. This builds your credit standing with the company, and chances are you’ll be able to persuade them to replace your card with the lower-rate one within a few months.

If you really do have a very bad credit rating, they may only offer you a secured card. These cards require you to make a cash deposit before you can start using them. This may be worthwhile to help you reestablish your credit rating, as they will usually offer a regular card quickly enough, as long as you don’t do anything dumb with the secured one.

Finally, if this all sounds like too much trouble, you might try a pre-paid credit card. These cards must be loaded with money in advance, but from then on you use them just like a normal credit card – except you don’t pay any interest or fees! In the long run, if you only wanted a credit card for the convenience, then this is an easy way to have your cake and eat it to.

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Glenn Cutforth is a writer, eBook publisher and graphic designer.

Visit his websites at: Self-Help and Wellness.com and HowToClassics.com

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