Let's say you received a credit card offer in the mail. You carefully read all the fine print, and decided it was the perfect credit card for you. You filled out the application, and waited for you new credit card to come in the mail.

A few weeks later an envelope arrived in the mail. You opened it only to find that your credit card application had been denied!

What can you do? Here are a few steps to take if you have been turned down for a credit card:

Read the letter the credit card company sent you from top to bottom. Look for 2 very important pieces of information. First there should be a specific reason listed that caused you to be turned down, or how to obtain those reasons. Also check to see if a credit report was used to make the decision, and the name and address of the credit agency.

Here are some possible reasons people are turned down for credit cards:

1. You have not lived at your current residence long enough.

2. You have not been employed at your current job long enough.

3. Your income may not enough to meet the minimum income requirement.

4. Your credit history may not be the best.

If you have been denied credit because of information provided by a credit bureau, you are entitled by law to be provided with the name, address, and phone number of the bureau that supplied the information. You can contact this agency for a copy of your credit report. By law you are entitled to a free copy of your credit report if you have been denied. Once you receive your credit report, read over it carefully. It is estimated that up to 40% of credit reports contain errors. If you find an error, you must contact the credit bureau in writing, and send any proof you may have. There is no charge for the credit bureau to investigate.

If you are still not sure why you were turned down for a credit card, the best thing to do is to call the company. What were the reason(s) you were denied? Where there standards that you did not meet?

If you decide to apply for a different card and are turned down again, it is recommended that you wait at least 6 months because it can actually make your credit report look worse.

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