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SolveYourProblem.com
Article Series: Debt Relief & Debt Consolidation
I Want To Get
Rid Of My Debt...NOW!
Turned
Down For A Credit Card?
What Should You Do?
So you’ve gone through the long and terrible process of giving
your details, only to find that you got turned down. This can
feel a little insulting, like a rejection, especially if you
feel like you could easily handle the card in question. So
what can you do if it happens?
Try, Try Again.
Don’t get upset if you’re turned down at one company – they
might have some strange requirement that you happen not to
meet. Always try three before you start to despair.
Whatever you do, though, don’t spend a whole day applying
for every credit card you can find, just to see if anyone will
take you. Each check is counted, and lots of checks on your
record make you look desperate, making it even less
likely you’ll get a good card – this is known as ‘shotgunning’ your
credit.
Get Your Credit Report.
Send off to the credit reference agencies to get copies of
your credit reports. There might be something incorrect on
there that’s making you look bad, and you need to get it corrected
if there is. Make sure you do all this in writing, so there
are records of it – don’t phone up and let them fob you off.
Phone the Company.
It’s not a good idea to always deal with credit card companies
by post or on the Internet – you should try to phone them up
and speak to a real person. This way, you can tell them all
your circumstances, make sure everything went through correctly,
and question them if you get turned down. If you directly ask
why you haven’t been accepted, then they usually have to tell
you.
If you’re willing
to be pushy, you might even get the decision reversed. If
the person you got through to won’t budge, then
always ask for their supervisor before you hang up.
Apply for a Less Prestigious Card.
Yes, I know, it
sounds bad – but you want a credit card, don’t you? Get a
high-rate card from the company whose card you want,
and then pay it off on time each month. You’re building your
credit rating. The chances are that you’ll be able to persuade
the company to replace your card with a lower-rate one after
a few months.
If you have a very bad credit rating, you might find that
you are only offered secured cards. These cards require you
to make a cash deposit before you can start using them. It’s
worth saving up the deposit and using the card for a while,
though, as you’ll usually be offered a normal card quite quickly,
as long as you don’t do anything terrible with the secured
one.
If that all sounds like too much trouble, then you might like
to try a pre-paid credit card. These cards must be loaded with
money in advance, but from then on work like a normal credit
card – except you don’t pay any interest or fees! Well worth
it if you only wanted a card for the convenience anyway.
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by SolveYourProblem.com
: 2006
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