i got denied for this card not by the bank but the creditors. should i reapply?
2007-03-09 09:49:55 · 7 answers · asked by nycgreekguy004 1 in Business & Finance ➔ Credit
my credit is good and i already have a few cards..but i want this rewards card...i did the application again...if i get denied ill call and talk in person.
2007-03-09 10:15:35 · update #1
If the reason they gave you why you were denied has improved, you might try again.
If you were recently denied, within the last several weeks, you might call and ask for a reconsideration on the denial if you feel their denial reasons were wrong. Be sure to request that they recon without pulling another credit report.
If you still have the same credit problems that caused your denial - wait until it has improved before applying again.
Also, they generally prefer that you wait 6 months to reapply.
2007-03-09 09:59:47 · answer #1 · answered by echo 7 · 0⤊ 0⤋
How long ago were you denied?
You should have gotten a letter in the mail telling you that you had a right to view your credit report to see the reason you were denied.
You should look at your credit report anyway and find out what is on there before you start applying for more cards. If your credit score is already low, reapplying is just going to get you another query on your report and lower your score even more. Every time you apply for credit, whether you get approved or not, it goes on your report. If you're applying for a lot of cards or already have a lot of cards that are maxed out, you need to get them paid off and pay them on time.
There is a reason you were denied credit. You need to find out what it is and get that repaired of pay off some debt but if you already have a bunch of cards now, I sure wouldn't be applying for any more. You're ruining your credit score.
Get your report. The report is free once per year. You'll have to pay a fee to see your actual score though.
2007-03-09 10:01:18 · answer #2 · answered by Faye H 6 · 0⤊ 0⤋
Your first course of action is to determine the reason for the denial. The creditor that denied you credit must send you a letter explaining their reason for the denial.
If it was due to a negative credit report, you are allowed to request your credit report at no charge to you.
Once you receive your credit report, you will need to review it for any errors and dispute and correct them.
You should not re-apply for the credit card until you address these issues and make efforts to improve your credit.
Once you have addressed your credit issues, you can request that the credit bureau re-send a copy of your corrected or much improved credit report to the creditor and then at that time you can contact the creditor who denied you credit and request that they re-evaluate your application.
2007-03-09 10:15:32 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Of coarse you should reapply, what do you have to lose? If you are trying to establish your credit, apply to department stores, furniture stores..etc, most of them will give you a $500.00 limit, but it is a great way to get your credit back on track. Just make sure you make the payments on time. In a short time, you will be receiving credit cards in the mail.
Good Luck..
2007-03-09 10:06:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No!!! If you keep reapplying you will only bring you credit score down (FICO). Instead go to your bank and tell them you want to open secure credit. Start working on you FICO score.
2007-03-09 09:58:46 · answer #5 · answered by J 3 · 0⤊ 0⤋
1st see why u were denied and go from there.
2007-03-09 10:15:51 · answer #6 · answered by shorty21 5 · 0⤊ 0⤋
there is no point, they will not approve you.
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2007-03-09 10:18:32 · answer #7 · answered by Anonymous · 0⤊ 0⤋