Search:

4 Steps If You've Been Denied For A Credit Card

By: John Wiley You can't always take it for granted that the moment you apply for a credit card online, you get one immediately.

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. You just have to phone the company to find out why you were not accepted. It's critical to know why because if you are denied, there could be mistakes on your credit report that you need to fix. You can ask them specific questions like why you were rejected and also what bureau's report they used to make their decision.

If you get denied a few times, don't keep applying - this can hurt your credit score. You should wait at least 6 months before re-applying.

3. If you've been denied credit because of information supplied by a credit bureau, federal law requires the creditor to give you the name, address, and telephone number of the bureau that supplied the information.

Make sure to get a hold of that bureau right away and get a copy of your credit report - by law, you are entitled to a copy at least once a year. You should check it almost immediately because it is estimated that over 40% of reports have costly errors on them that can be corrected. If you find an error, you should contact the company right away with proof to get it fixed.

4. If it was the errors that led you to getting rejected, ask the bureau to send the corrected copy back to the place you got rejected from. The lender should then reconsider your application.

Article Source: http://www.lifeweightloss.com

For Over 1,000 Articles on Credit and Debt Consolidation Information and in addition for the top rated instant online low interest rate credit card deal , make sure to visit www.1a-low-interest-rate-credit-cards.com .
Don't reprint this article. Instead, reprint a free unique content version of this same article.

Please Rate this Article

Not yet Rated