It is not a pleasant thing to receive a denial letter from the bank when you are expecting a new credit card instead of it. And you do not know why your credit card application was denied. However, there may be several reasons of bank denial. You can read in this article about main reasons of credit card application denial and you will understand why you were denied.

It is strange and sounds funny but banks sometimes receive credit card applications from children under eighteen. Those teenagers are dreaming of credit cards. They do not want to be deceptive, but they are not informed well. Those kids do not know that to be qualified for a credit card by a bank or other credit card institution an applicant must be eighteen years old and older. Nowadays teenagers have access to many “adult” things, like cell phones and email, and they want to have credit cards too. Thus, any human being under eighteen will get a denial from any credit card institution.

You can receive a denial letter if you earn little money. It is one of the most wide spread reasons for denial. In order to be qualified for a credit card you must have some steady income and you will not receive a credit card if you do not make enough money or your income is not stable.

If an applicant switches jobs too often and has recently moved his credit card application can be declined. Banks and other credit card institutions like to see as their clients people with stability in their job and living conditions, so they check up applicant’s residence and his current job. This is one more common reason of denials.

If an applicant owns several credit cards his credit card application can be declined because banks cannot trust people who have many accounts and credit cards open at the same time as it may be a sign of a bad cardholder. Maybe an applicant pays badly his credit debts or maxes out his card limit. And it is quite natural that credit card institutions are not going to lose their money on not very good clients.

However bad or too short credit history is the most wide spread reason for bank denials. When your credit score is too little or you have no it at all, banks consider that it a bad sign because in this case they merely have no basis to trust you money.

There are some general qualifications for a credit card: you must have stable income, steady current job and living conditions and your credit history must be good or excellent. If you meet these requirements you will receive a credit card.

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