5 things that will keep you from getting credit cards

Want a credit card? Make sure you avoid these errors.

You do your research and decide to sign up for the credit card. But then the tables turn, because it is the issuer’s turn to decide if it wants to work with you. It think your credit score and income, and scan your credit history any red flags. Qualification requirements and may vary by card issuer, but here are a few things that will be very common, from it you get a credit card.

1. No credit history

Issuers look at your credit history to measure your financial responsibility, they use it to determine whether you can repay what you borrow money. If you’ve never borrowed and no credit history, CREDitors will be in the dark about how would you handle the responsibility of. Many people will reject your application, instead of taking the gamble.

If you find yourself in this situation, there are some types of credit cards available that will help you build a credit history. Student credit cards are designed for college students. They have a lower credit limit, but they also have less stringent qualification requirements. If you do not meet one of them, you can apply for secured credit card instead. These need to deposit equal to your credit limit. If you later decide to close a credit card, bank will return the deposit, assuming you do not have a good balance.

2. No income

Card issuer will ask about your income when you apply for credit cards. They use this information to set part of your credit limit, and make sure you have enough money to repay what you borrow money came. Those who can not prove a consistent source of income might get rejected because of the increased risk, they will not be able to keep up with their payments.

If you do not work, increase the likelihood that you will get a recognized. If you are 21 years of age, you can also include your partner revenue for your application, this may mean that you can get a credit card did not work. But it is still best to have under their own source of income in case you break up with your partner or your partner losing his or her job.

3. Bad credit

Bad credit shows that you have not responsibly handle your MONEŸ past. Most card issuers who are not with bad credit, because there are too manyGreat risk of borrowers defaulting borrower’s work. Credit card guarantee is open to those with bad credit, because if you can not repay what you owe, card issuers can only keep the deposit. However, if you want a reward credit card, you have to work on improving your credit.

Always pay your bills on time, try to limit yourself to use 30% of the monthly credit limit or less. Use more than this to tell the lender, you need a lot of credit to finance your lifestyle. Do not close old credit card, unless they charge an annual fee to you. They help your average account age, which can improve your credit score.

4. Apply for too many credit ÇARDS

When you apply for a credit card, your credit report will be the lender of hard inquiries. This is down by a few points you score, which also appear in your credit report.

Apply for multiple credit card issuers suggestions, you may have trouble and need a lot of credit to support your lifestyle within a few months. This indicates a higher risk of default, so the application might get rejected. You can select the application you want to be careful, do not apply for a new credit card more than once every six months credit card to avoid this situation.

Credit scoring models and make lending rate shopping exceptions. According scoring models, they believe that any loan inquiries OD occurring in need of around 14-45 days as a single query to the shopping behavior of normal credit account. There is no such credit card application exception, though.

5. Fraud alert on your credit report

Place a fraud alert on their credit report someone, if they’ve been victims of identity theft. This does not prevent you open a new credit card, but it may make you can not apply online. Fraud alert tells creditors, additional steps they must take, in your name before opening a new credit account, verify your identity. This ensures that you, you, not identity thieves.

If you report your fraud alert, you may need to visit a branch to complete your application. Delete fraud alert is also an option. Initial fraud alert AUTOMA unless you choose to extend their say in 90 days after the expiration of the angle. You can also feel free to contact the credit bureau and ask them to delete the alert. Be prepared to answer authentication questions when you contact the credit bureau as well.

No one likes credit card was declined, which could hurt your credit score. You can increase the chance of success by avoiding the above error V.