2007-11-30 20:55:31 · 15 answers · asked by elfie 12 2 in Business & Finance ➔ Credit
The only affect will be a small loss 3-5 points for the inquire the credit card company ran, being denied has no affect at all on credit score.
2007-12-01 02:08:09 · answer #1 · answered by ? 7 · 4⤊ 21⤋
This Site Might Help You.
RE:
Does getting denied for a credit card hurt your credit?
2015-08-19 08:26:37 · answer #2 · answered by Erna 1 · 0⤊ 0⤋
Having the credit report pulled hurts your credit. The more someone look at your credit the worse it gets. So don't apply for a bunck of diffrent line s of credit close together. As far as being denied, I don't think that affects your credit.
You can look at your credit report on-line for free.
www.annualcreditreport.com you can pull credit report from all 3 credit reporting agencies without harming your credit and see who has inquired about your credit and see if there is any fraudulent things on there.
Hope this helps, Good Luck!
2007-11-30 21:02:11 · answer #3 · answered by Red 3 · 2⤊ 0⤋
Don't think getting denied hurts your credit, but it means your
credit is already damaged! There is something on your record that is preventing the credit card company from approving you. You need to contact the 3 credit bureaus and get copies of your credit reports from Transunion, Equifax and Experian and find out what is on your report that is showing as a "negative item". That is what has caused the problem...good luck....once a negative item is on your credit history, it stays there a minimum of 7 to 10 years, even AFTER you pay off whatever you owed to the creditor. Each consumer is allowed one free copy of their credit report per year, after that, you have to pay for one....go to freecreditreport.com or search under free annual credit report to find the way to request your 3 reports. You can also look under the Federal Trade Commission website at ftc.gov for information.
2007-11-30 21:03:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes and no , Yes if the reason why you get denied is because you had a credit card before from another bank and you have missed payments many times until you defaulted on it . Then the issuer bank of your credit card will report you to the Credit CArd association or Central credit bank card association , you will a a red flag on your credit . All credit bank card issuer check on this list and when they see your red flag , then you are denied.
No , if the reason why you were denied a card is because you did not meet their required salary level , you did not qualify because they found out on your other credit card you are a low user (meaning you have not used up even 50% of your credit limit and there are no services you are using aside from purchase of groceries and small items , you have not used other services like 0% appliance loan offer .Then thsy would not issue a card to you .
2007-11-30 21:07:14 · answer #5 · answered by Anonymous · 0⤊ 3⤋
If you have too many inquiries into your credit profile, it can look negative on your credit. I guess it makes you look like you are desperate, but who knows. If it's just one credit inquiry, it won't hurt your credit, but you can request a free copy of your credit report any time you are denied for credit. It would be a good time to request a copy and see if there are any negative reportings on there that don't belong to you or are fraudulent.
2007-11-30 20:59:41 · answer #6 · answered by Wink 3 · 2⤊ 0⤋
What if your applying for a credit card and you don't have a credit score.
2015-01-08 19:50:31 · answer #7 · answered by Anthony 2 · 0⤊ 0⤋
It shows up on your credit report that it was viewed by the requesting credit card company. But nothing if it was rejected or not. I have been told though if you have alot of views of your credit report it does effect if you get a loan or not. But does not effect your score. I don't use credit cards any more. Just use Debit which comes right out of my account.
2007-11-30 20:58:30 · answer #8 · answered by Ynot 3 · 1⤊ 3⤋
I would have thought being denied a credit card already indicated you credit report is already compromised. every enquiry to the credit agencies will devalue your credit score in some way. even if you are given a credit card that will devalue the amount of credit you will be able to obtain in the future for obvious reasons
2007-11-30 21:42:52 · answer #9 · answered by Anonymous · 1⤊ 3⤋
If you want my opinion and im sure you do. I wouldnt worship at the alter of the almighty fico score.
Banks spend millions brainwashing people into thinking they need credit cards and a high I love debt score to make it in todays world. NOT TRUE.
Pay as you go and live on less than you make and you will have money.
And it is an I love debt score. You have to borrow money and make payments on time to get a high I love debt score. You have to keep borrowing money and Keep making payments on time to keep a high I love debt score.
A low score from not paying your bills is trouble. If you have a 0 score from not borrowing money you can still get an apartment and job and home loan with manual underwriting. The way it was done before the I love debt score. It's not a sub prime loan and you can get the same low interest rates.
Of course the bankers and their loyal followers on here are gonna tell you different.
borrow is slave to the lender. Always!
Debt free is the way to be!
2007-12-01 05:17:50 · answer #10 · answered by heybulldog 5 · 0⤊ 3⤋
I wouldn't think so but I have no concrete proof, as far as I understand it at least here in Australia.
When they performed a check it just looks up various things like debts, mortgages, defaults on loans, etc and even if you have something makes the check fail its essentially a just a check.
2007-11-30 21:01:32 · answer #11 · answered by Anonymous · 0⤊ 2⤋