What To Do If Your Credit Card Application Is Denied?

Too many people assume that they will get approved for a credit card right away just for applying. But, remember, credit cards do a very good job researching your background, many people get denied daily.

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 have a right to find out the specific reason you were denied for the credit card. If a credit report was used to help make the decision, then you should get the name and address of the agency that supplied it. Here are some reasons for getting denied... # You have not lived in your current house long enough # Haven't had your job long enough # Your income is too low to meet their required minimums # Some information they did not like from the credit bureau

2. If you don't know why you were denied, you can call the company directly to ask why. It's important to find out the exact reasons why you were denied. Ask questions like, "What are the exact criteria I did not meet?" Just remember that if you keep applying and getting turned down, this makes your credit score go down even more.

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!

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