Being rejected for a credit card can damage credit rating

Tue, 24 Jun 2008

According to a report from a leading industry expert, being rejected for a credit card can significantly affect one’s credit rating . Thousands of credit card applications are rejected every day in the UK.

The head of personal finance at Fool.co.uk found that credit cards rejections could appear on future credit references, even making it hard to be accepted for mortgages and personal loans .

Kuo was reported as commenting: "Every time you are turned down for a credit card application it counts against you on your credit reference. If people are going to be applying for a credit card then they need to make sure that they are almost certainly going to get it before they apply for it. What people need to do is to have a look at their own credit record and look at it from the eyes of a banker or whoever is providing the credit card."
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