Once when you were expecting a new credit card, you received a denial letter from the bank. Why were your denied? The disapproval may have several reasons. The main aim of this short article is to clarify the top reasons you could be denied for a credit card.

It is odd but every year banks receive applications from teenagers dreaming to get credit cards. Those children do not want to be deceptive, they just do not know that to be qualified for a credit card they must be eighteen. Nowadays teenagers got access to many ‘adult’ things like cell phones and email and they hope to get credit cards as well. So, if you are not old enough, you will not get an approval from the bank.

The next most common reason for you to be denied is if you do not make enough money. In order to qualify for a credit account you should have some steady income. If there is lack of income, you will not get a credit card.

Another reason your credit card application may be denied is if you switch jobs or have recently moved. Banks like to see as their clients people who have stability in their lives, so they note the length of time at your current occupation or residence.

If you own too many credit cards already, you may be denied too. Banks do not like people who open too many accounts and credit cards. It may be an indicator that you max out your cards and not very good with your credits. Mostly credit card companies do not want to lose their money on those people who are not able to pay back their debt.

The main reason why applications are denied is if thier credit history is too bad or too short. If you have none or too little credit, banks and card companies consider this like bad credit as they have no basis to trust you. So, if your credit score is below a definite number (it depends on the card), they may think it is too risky to give you a card.

There some general qualifications for people to get a credit card: they must have sufficient income, stable living arrangement and job, excellent credit history. If you do not meet these requirements, more often than all, your card application will be declined.

Card institutions take into consideration any types of debts (loans and other credit cards) and want to be sure that the cardholder is able to pay off his credit debt. Each applicant’s credit file will be looked through thoroughly before approving the application, so your credit history must be perfect and must tell about all your previous loans for the last five years.

This blog if your free guide to credit card market and its important questions: pros and cons of different propositions, how to fill out credit card applications properly, how credit card applications can help you in getting nice information about the real offers on the market.

Build your own picture of the market, this knowledge will become your best helper – and you need it BEFORE you start filling our the credit card applications.