Credit Card Application Unsuccessful?

Question

Just entered a new company and will be needing credit card for work. So started to apply for them. Currently received unsuccessful results from 2 banks. No reasons given and this is how they going to help? With meeting of the cap to apply and knowing that I have not taken up any loans or debts. Why does my applications keep failing?

Thanks for all the answers you have given me.
Firstly, About my company..no worries. Company will be giving me corporate card after comfirmation. I am just needed to get it because I will travel before my comfirmation for work.

Another case, I did called the credit card banking hotline, they help desk person told me, they will not provide any information why it is denied, but can appeal again and see whether if it will be successful. I find it ridiculous because if we can't do anything to back up the appeal, what's the differences between the first rejection and waiting for the 2nd rejection? Isn't it stupid?
I am really confused with the system we have in Singapore credit card rules.
Any better idea?

Answer 1

Call them and find out, they will tell you exactly the reason .. you might be able to give them some info and they may reconsider ... have your credit reports sent to you so you can take a look at them and make sure there is nothing inaccurate on there ...kr

www.equifax.com
www.experian.com
www.transunion.com

Good Luck!

Answer 2

What kind of work do you do that requires you to get a credit card? No normal company will expect its employee to get a credit card to work for them. Just want to warn you about potential scams.

I recommend:
1) You should have received an adverse action notice from your bank. You can contact them and ask them the reason your application was declined.

2) You should also get a copy of your credit report so that you can review what is on your credit history. You can get one from whichever credit bureau the bank used (should be in their adverse action notice), or you can get one from each of the credit bureau. Federal law allows you to get a free report each year.

3) If you have never had any loans or debts, that would likely be the reason you get turned down. Banks won't extend credit to someone who does not have a credit history. They simply can't judge your creditworthiness.

4) If that is the case, what you can do is:
- Open up a retail card account at a store such as Sears, Best Buy, Home Depot or Macy's. Use it to buy something you really want/need, then promptly pay it every month (or pay it off all at once). The point is to maintain a clean credit. You will start building up credit and may qualify after 12 months.

- Request for a student credit card (if you are a student) or a secured credit card. Both of these cards will likely have a low limit ($300 to $500). With a secure credit card, you will have to put a deposit down first. This is another way to start establishing credit.

Good Luck!

Just Be!

Answer 3

It sound like you have no credit history, therefore you have no credit, therefore you can't get any credit. Now if you were a college student, you can qualify for credit easily - go figure.

You need to establish some credit by paying some bills. Even utility bills might help. Go to a bank that your parents used or you have a savings/checking account with and ask them for advice.

On the other end, DO NOT pay any significant work expense with your money. A legitimate company will give you an advance or a company credit card whether you have credit cards or not. With a company credit card all you need do is justify the expense. They pay it off and pay interest charges if they accrue.

With an advance, you can use a credit card, if you get one, as you know you have the money to pay it off when it is due.
When you determine how quickly the reimbursement paperwork goes thru you can plan your credit card. They aren't going to pay your interest expenses unless you can make a case that it was their fault and you have no personal charges on the account.

Answer 4

You should make sure there is nothing wrong on your credit report, also you can get a credit card if your credit isn't the best.

Have a look here...

http://www.thecreditcardtorebuildcredit.com/categories/bad_credit_credit_cards

Answer 5

hello may name is kim an what you need to do is get an credit report an see whats on your credit that will be stopping you form get an credit card.But don't keep apply b/c that not good for your credit.

Answer 6

Debit card is as good as Credit... Advantages and disadvantages...