read_connect(); //$GLOBALS[ezoic_db]->read->query("use 17things"); ?>

How does being rejected for a credit card / credit affect applying for another card through a different bank?

How does being rejected for a credit card / credit affect applying for another card through a different bank? So many people say being rejected a credit card affects your credit rating. To what extent is this true?

Related Items

7 Responses to “How does being rejected for a credit card / credit affect applying for another card through a different bank?”

  1. mully said:

    everytime you apply for credit whether it being a credit card, catalogues, car finance etc your credit rating goes down. If you have been rejected for a credit card this means you have poor credit rating so applying for another will be rejected again.

  2. CoolBabe said:

    Each time you make a credit application, it goes down on your credit record. Making several applications in a short space of time can affect your credit rating as lenders see you have made many applications.
    All lenders have different criteria, so choose carefully when making another application.

  3. SarahLou said:

    Every time you apply for credit your credit rating goes down so each time you apply for a credit card within a short space of time you are less and less likely to get one.

    I got caught out on this one and had to wait ayear before apply for credit again so I could build my credit rating back up!

  4. Mia said:

    Anytime you apply for a credit card or a bank account your credit is checked. Each time your credit is checked it causes your credit rating to go down a little bit. Just because you are rejected for a credit card at one place like a store card, does not necessarily mean that you will be rejected at another place. Some store’s/banks require a certain credit rating to be eligible. Some are just higher or lower then the others. If you do have a very low credit score then you will most likely be rejected anywhere.

  5. Margaret J said:

    Being rejected for a credit card affects your credit score for short time.

    If you want to build your credit, probably the best method is to apply for a secure credit card. This card works like a regular credit card, only you’re using your own money. Let’s say you put in the account 500$; you will have a credit with 500$ limit. Nobody can see that you have a secure credit card ’cause it’s working like a unsecured one. That card should help you increase your credit score.

  6. Glib said:

    When you apply for credit, a catalogue or a phone a credit check is done on your file to see if you are a good risk. You can usually have about 3 credit checks in 6 months before your score is affected, but you shouldn’t have too many credit checks close together or it may make you seem desperate for credit and therefore a higher risk.

  7. Craig said:

    It’s very true. Everytime you apply for a loan or credit it creates what’s called a “hard pull” on your credit file. It doesn’t necessarily impact your actual FICO score, but it can be viewed by a lender.

    For instance, if I see recent inquiries, but no open account to match the inquiry, then I can deduce that you were declined. If another lender declines you, then I would have to think twice to approve you.




Message:

[newtagclound int=0]

Subscribe

Recent Comments

Recent Posts

Archives