What Happens If Your Application Is Declined?
Most credit card companies have an appeals process if an application is declined. If you wish to use this process you should contact the card company and ask them what you should do to initiate it.
If you make an application for a credit card and are declined and you want to know why you can contact the card company to get more information. There are many reasons why a lender may refuse you credit and they should tell you the main reason for their decision. Their decision could be based on the credit score, information from your credit record or because you fall outside their rules for lending. If they tell you that the information was based on a credit report then ask them for the name and address of the credit reference agency used.
If you want to know more, and have not already done so, request a copy of your credit file from the credit reference agency specified. Although this may not always clarify why your application has been declined it is a good starting point if you want to find out.
To get a copy of your credit file you can apply to any of the credit reference agencies and request a copy of your credit record for a small fee (currently £2). Credit reference agencies provide a detailed record of your borrowing. Included on your record are details of your past repayment history, any County Court Judgements (CCJs) or defaults registered against you, electoral roll details and previous credit searches made.
The credit reference agencies in the UK are:
| Experian: 0870 241 6212 | www.experian.co.uk |
| Equifax: 0870 514 3700 | www.equifax.co.uk |
| Call Credit: 0870 060 1414 | www.callcredit.co.uk |
Have a look at these tips for checking your credit record or get some ideas for how you can improve your credit record.
