Yes, you can find credit cards guaranteed approval, and in a lot of cases they will be issued; but what if they aren’t? What can you do when you need bad credit credit cards?
Help! My Credit Card Application Was Denied
After receiving hundreds of mails saying that your credit card application has been approved, it comes natural to think of the whole application process as a simple procedure.
Why would you worry at all when you have been pre-approved by so many card companies? Well, unfortunately most of those offers do not actually mean that you will soon receive your card. In fact, what they really tell you is that you have all the necessary prerequisites to apply for a card. Whether you will actually be approved depends on a variety of reasons that we will consider in the following section.
Why You Were Rejected
Although many aspects such as your employment details may come into play when rejecting a credit card application, the credit score is typically the most likely reason for being denied.
Oddly enough, you do not necessarily have to have a bad credit history to be rejected. As a matter of fact, no previous credit history will be judged as negatively as well. This is merely because having no credit history means that card companies have simply no information they can use to evaluate your reliability.
On the other hand, if your record is full of late payments on checks and other credits, credit card companies will be reasonably distrustful when it comes to issuing your card.
As previously mentioned, other reasons may also lead to the rejection of your application. For example, lenders usually tend to be more cautious with customers who have just started a new job, preferring to let some time pass instead. Of course, these issues will be most commonly taken into consideration when your credit card is neither too bad nor too good.
What To Do
The best thing you can do is simply to clean up your credit history. When doing so, your chances of obtaining any credit cards or loans will significantly improve.
You have the right to ask information about the reasons behind a creditors’ rejection and the credit bureaus that were involved in the evaluation process. If your credit report contains the data about why you have been rejected, you may also request a free copy after having talked to the credit bureau.
Again, the best step you can take to improve your credit rating is to start being punctual with your payments. In order to be able to regularly settle your monthly bills, get rid of any unnecessary spending and use your savings to make your payments in time. Although this might require extra efforts, it is the only way to avoid a financial hole that might take years for you to come out of.
If your credit has been slightly improved, do not apply for a new card immediately. After a while, you might be surprised to discover that creditors will appreciate your efforts and finally approve your application. As mentioned above, this does not mean that you do not have to be careful anymore with handling your finances. Effective management of your debt and payment obligations is always worth it in the long run.
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You can also opt to go for pre-paid credit cards especially designed for those who need bad credit credit cards.
Learn more about credit cards and your credit score with these related articles:
All about Credit Cards … a series of articles on choosing credit cards, how to evaluate them and where to get them, quickly and easily!
Your Credit … your ratings, scores and protecting your credit.
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