Posted on March - 28 - 2011
Credit Card Applications Are Often Turned Down
One in two applicants for a Barclay credit card is turned down. That’s a pretty high number, so you shouldn’t be too shocked if your application is not approved.
When you apply for a credit card from any bank, you will be screened through ‘Credit Scoring,’ your records are also checked through a credit reference agency.
Some things which will help your case are; being married, having a permanent full-time job, owning your own home, not moving around too much and having a savings account.
But these things alone will not automatically approve you. Some people might not fit in with certain lenders policies. Being over 40 for example might score you some points with some companies, because the credit card company assumes you will be more likely to keep a high balance, which means lots of interest.
If your application was turned down you should find out what the reason was. Lenders might not be inclined to disclose exact reason, but they will have to give you an indication of why it was refused.
You should get a copy of your credit reference file and check the information, if anything is incorrect you will be able to ask for an amendment.
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