first thing to understand in applying for credit cards is that its only
business. Though you may feel rejected if you are turned down for a card
- after all, it takes more than a notion to select a card and fill out application forms for it - don’t let it get you down.
Instead, consider the options below for getting the best credit card you can.
If at First You Don’t Succeed…
As was said earlier, this is only business, so never take a rejection from a credit card company personally. A good approach is to try three different times before changing tactics. However, don’t take this to mean that you should apply for every credit card you can find, or for that matter accept every unsolicited credit card offer.
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).
Call the Company
Though our current society relies more and more heavily on mail or the Internet to apply for a credit card online, you should strongly consider calling the card company so you can speak to a real person. This way, you can tell them your specific circumstances, make sure there were no errors, and if you’re turned down, find out why. 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 be able to barter a reversal. If the person you initially talk to won’t change their credit card application decision, ask for their supervisor before you hang up.
Obtain Your Credit Report
Contact the credit reference agencies to get copies of your credit reports. It’s definitely a possibility that there might be something incorrect on there that’s making you look bad, and you have the power to get it corrected. Make sure you offer corrections in writing so there are records of it.
Consider a Less Prestigious Card
Yes, this may seem like a compromising option, but if all else fails, a low level credit card is better than none. If you do go for a cheaper card, you can show your financial ability by paying off your bills on time, which will build your credit rating. You’ll most likely be able to persuade the credit company to replace your card with the lower-rate one after a few months.
Another option, if you have a very bad credit rating, is to obtain a secured card. These cards require you to make a cash deposit before you start using them, a sort of collateral if they’re afraid you might default. However, it’s worth saving up the deposit and using the card for a while, as you’ll usually be offered a normal card quite quickly once you show your reliability.
Finally, never exclude the option of pre-paid credit cards. Though you initially must pay before you use these cards, they work the same as conventional credit cards. However, you’ll never have to hit the nasty interest or fees which you could run into with normal cards. Further, this offers the same convenience of conventional cards.