We take a lot of factors into consideration when assessing your eligibility for credit. If you’ve been declined for a credit card, the first thing you need to do is read the letter you’ve been sent, as this may give you some details on why your application hasn’t been successful.
To give you an idea of some of the reasons why this might have happened, here are some of the most common reasons customers get declined for a credit:
When you apply for a credit card the lender checks your credit file, which leaves a hard footprint on your credit report. More than a couple of these footprints could lower your credit rating and make lenders extra cautious about offering you credit. So if you’ve been denied credit, don’t keep reapplying. You’ll need to wait at least three months before you apply again.
Before you apply again in the future, there are a few things you can do.
If your application has been refused, take a look at our page on how to improve your credit rating .