 Should I get a credit card? |
| I turned 18 in August, and I have no money, except for the money my parents give me, and Im a senior in HS, I really want a credit card so I can buy things, and I'll pay it off when I get a job. ... |
|
 When im older, do i really need to have a credit card? |
| ive heard many more bad things than good about them. im hoping i dont need one EVER.... |
|
 Credit card debt, and how to get out of it?!?!? |
| I have credit cards and all of them are over my limit...How can I help to lower my debt, but not have it effect my credit any worse, than what my credit already is?!?!?... |
|
 Should I pay off a debt from 1998 that does not show on my credit report?.? |
| The loan was for an auto repo. A debt collection agency contacted me and said they would settle for 25% of the loan amount, which is a great deal. If I do not pay the amount could it affect my credit ... |
|
 Is it acceptable to be in debt if you are responsible about it? |
Like thousands of other students across the UK, I have an interest free overdraft (which I seem to be in all the time) and I also have 2 credit cards.
My credit rating seems to be good, ... |
|
 Need to get credit score up fast for a car loan...? |
| Will taking out Payday advances and paying them back right away build my credit score up quickly? I know I will pay some fees that way but I can't think of another way. My credit score is too ... |
|
 Which bank has the best credit card? |
list your banks and % rates
do they ALL rob us blind?
how many offers do you get in the mail (per month)?... |
|
 Do you have to sign the back of your credit card? |
| Personally, I think it's a risk of someone stole your credit card and forge your signature. What do you think?... |
|
 What many credit cards should i have? |
Hello,
I make around 40k per year, i currently have a visa card with $11,500 limit (i owe around $4,500 on this card), i just got a AMEX blue card the other day.
How many cards can i ... |
|
 Best way to increase your credit score? |
| What is the best way to help increase your credit score? Especially if you have a foreclosure on it?... |
|
 How do i improve my credit score? |
| i have a default notice on my credit score and it is seriously affecting the credit available to me. It is not a big credit default and was due to a mistake on the part of the company. They don'... |
|
 What do I do if I recieve a Collections notice from more than 10 years ago? |
| My credit history shows no account with the company they claim that I had an account with.... |
|
 I need serious advice people! I need to get my life together!? |
| I am 19 yr. old female who turning 20 in a couple of weeks. I have a really bad past. I used to drink alot, smoked all the time spend my money recklessly whatever it was I did it. When I was 18 I got ... |
|
 Is it true that bad ratings come off your credit report after 7 years? |
| From what date are the 7 years calculated? Once the time has passed will they automatically be taken off or will i have to something to make sure they will come off. What if they are charged off ... |
|
 I am 23 years old and I have bad credit how would I go about getting good credit? |
| I have acct. charged off on my report from credit cards when I was younger-Should I try to contact the card companys to make payment arrangements or what should I do?... |
|
| Is there a real work at home job? where is it? |
| I'm disabled and can't go to a job everyday. but i would like to have a real work at home job, my money is very limited.... |
|
|  |
R R | I applied for credit card,it was declined but i want to appeal,? |
please can anyone help me how to write a appeal letter to credit card company. |
 |
 
ISABELE B
|
not worth appealing ,you will get a PAT reply .try your bank .!!!!!!!!!! |
|
♥ Bee ♥
|
Start with your credit report, there may be errors on it. |
|
noitall
 |
First since you were denied you want to get a free copy of your creit report and see why you were denied. The company that denied you will send you a letter of why, and then you can take it from there. |
|
bud68
|
There is no "right of appeal." You can request the reason and get a free credit report due to the denial, but that it all. |
|
Terry H
|
It's probably better to try improving your credit and reapplying. Alternatively, your bank or credit union might be more likely to offer you a credit card. You could also try a "secure" credit card first, in which you pay some money upfront, and then use the card kind of like a debit card-- this will help improve your credit, and then you can reapply for a traditional credit card. Good luck! |
|
ED Lolington
|
You're out of luck - if they don't want to give you one they will not give it to you. |
|
Studly
 |
I know the previous answers are not what you wanted to hear. Maybe this will help.
For starters, you didn't mention which bank you applied to or the reason they rejected your application.
Keep these things in mind. Due to the current financial crisis, many banks are being very careful who they give credit to. In most cases the only thing they have done is look at your credit report, and if the score is not that great, or if there are derogatory items on it, they will simply rubber-stamp reject on it.
Big banks and credit card companies get thousands of applications a day and are not going to spend a lot of time evaluating your situation.
So your first step, as mentioned in previous answers, is to look at your credit history and correct any bad info.
Next, search out credit unions or smaller banks that offer more personalized service. Talk to their loan officers directly and provide them information to support that you are financially able to pay back the loan, and/or have a good credit history. Giving this to large banks won't help since you don't really have access to those 'decision makers'.
If you want to send an appeal anyway, just send a straight-forward letter explaining why you should have the card. Include proof of income, references from other loan holders, or whatever information you can supply to show you are able to repay the loan. |
|
Jacobite
|
Firstly, do as some of the people above have suggested and get a copy of your credit report, online if you can (though the lack of a credit card might be a problem!), if not through the post is fine. Depending on what the report shows will determine your next course of action.
1: - Something is wrong on the report. First port of call is to contact the credit reference agency and get a 'Notice of Correction' added to the report stating you dispute the information listed. The agency will provide you with a standard format for doing this. You can then instruct the agency to investigate the error and ultimately that can end up in the entry being removed if it is incorrect. If the agency will not do this, you can refer the matter to the Information Comissioner (assuming you are in the UK). Some will tell you to contact the company in question; a good idea, but make sure you have the credit agency on your side before you do it because in my experience, companies simply don't buy it when people phone up/write and tell them they have put incorrect information on their credit file.
2: - Something is on the report that is correct, but there is a good explanation for it. Much the same as the above note, contact the credit reference agency and get a notice of correction added explaining exactly why you did not pay/fell into default or whatever. The entry won't go away but if you do want to appeal a decision, submitting a credit report with an explanation of any deliquency on it is a good start.
3: - You don't have enough credit. Stupid, I know, but a hard fact of life I'm afraid. If you don't have other credit, lenders don't have enough information to base a lending decision on. Another critical point here is people who are not registered on the electoral roll. This makes it difficult for lenders to track down all of your credit, thus they will err on the side of caution and decline you. Solutions to this? Get on the Electoral roll! Also in terms of getting a card if this is your problem, google is your friend (or indeed, Yahoo!), look for cards who are willing to accept people with less than perfect credit ratings. The interest rate will be higher, but you've more chance of being accepted. If you just want a card to run it up to the hilt, this will hurt, but if that is what you want a card for, then you deserve everything you get.
Lastly, don't go applying to a load of companies hoping they will give you a card. Multiple credit searches are bad, frighten off prospective lenders and will just make matters worse.
I hope this helps! |
|
Stimpy
|
I believe you will have to create a credit history so the next time you apply for a credit card the company can see that you made all of your payments on time and in full. It's the only way to past this. Go to your bank and apply for a small loan say 1000, say it's for a computer, DO take out loan insurance incase you fall ill and cant work for a while, but pay off this amount correctly and then re aply for a credit card you should be sucessful. Good Luck |
|
alatoruk
|
there is no law that says they haveto give you one, so appealing will do no more than waste a stamp.
and they dont even have to tell you why they declined your application. |
|
simplesimon
|
Assuming you are in the UK.
Strictly speaking you cannot "appeal" a decline for credit. You are not entitled to borrow money, there is no legislation which says you can borrow money. Lenders have their own criteria - which they do not have to divulge - based on who they want to lend to. Indeed, criteria can change on a daily basis and is based on outside factors like their own lending book, and the availability of credit. You could have a 'good' credit rating, and still get declined.
That said, this isn't something to ignore - and you certainly should not "just apply for another" as this could have implications on your credit rating.
You need to look into why you have been declined, and the best way to do this is to get a credit report from someone like Experian (http://www.experian.co.uk) - its free, but you have to remember to cancel your account within a month. |
|
Annette M
|
you would be better off purchasing your credit file first to see if there is any reason as to why it has been declined. That then will give you evidence to approach thte credit company with your file stating the facts.
Credit companies generally work on an automated results service from a credit check service and if your credit score is below a certain level they will not accept your application based on that. The score could be low due to a number of factors, one of those is how many credit applications that you make in a certain period of time wether they are accepted or declined. You could be refused based on the information held on previous occupants of your house, how many times you have moved in a certain period or how many bank accounts you have open and how they are used, it really is quite scarey how much information the world of finance can access about you!
As mentioned though, your score could be low based on previous occupants so if you purchase your credit file then you will be able to see the information that they have based your application on. Alot of the time it is very easy to rectify. |
|
alexfont0801
 |
I totally agree with Shala. But what you can do in order to rebuil or establish credit open credit cards for this same purpose. For example Bank of america has a secure credit card that you give them $300 and they give you a $300 limit. After 9 months they will approve you for a unsecure credit card. Also, First Premier Bank gives you a $250 credit limit with $179 balance that you need to pay (which are fees). But First Premiere Bank reports monthly to the bureaus, which is an advantage. Also, never ever apply for Capital One. Most of my clients have had it at one point and they screwed their credit. |
|
Linda B
 |
GET A CREDIT REPORT AND MAKE SURE THERE ISNT ANY MISTAKES IN THERE.THAT COULD TELL YOU WHY YOU WERE DECLINED.DONT KEEP APPLYING 4 CREDIT CARDS AS THAT CAN ALSO EFFECT YOUR CREDIT RATING.TRY YOUR BANK AND IF THEY ALSO DECLINE YOU ID LEAVE IT AT THAT OTHERWISE IT COULD TAKE AGES 4 YOUR CREDIT RATING TO BE APPROVED. |
|
worldpeace
|
apply at www.fastcreditcardapprovals.com and go under poor or no credit section, here you will be appoved.
http://fastcreditcardapprovals.com/ |
|
sanitystrksback
|
If the company denied you, you have a right to know why. If you don't know why they denied you, writing a letter of appeal will be a waste of time as you won't know what you're arguing against.
There are plenty of credit card companies on the market. You might be better off just applying with a different card company. I will leave a link to a card site in the resources. I have used it myself and found it very helpful. |
|
shala
|
just get over it u obviously have a bad credit rating or just not enough credit history, basically u are a risk |
|
lofty256
|
just apply for a different one! |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
18 | 19 minutes(s) ago
| | | |
18 | 37 minutes(s) ago
| | | |
17 | 2 hour(s) ago
| | | |
18 | 5 hour(s) ago
| | | |
18 | 9 hour(s) ago
| | | |
18 | 11 hour(s) ago
| | | |
18 | 1 day(s) ago
| | | |
18 | 6 day(s) ago
| | | |
18 | 1 week(s) ago
| | | |
18 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
