The advent of credit cards has made a huge change in the way business is being conducted. It is taking the place of cash to close transactions. With this, more people are joining the beeline for a credit card application everywhere.
Almost all establishments are now accepting this piece of plastic as payment for transactions, purchase of goods and services. However, one truth is not all applications are accepted. Some applications cannot be approved for various reasons.
Nowadays, this powerful plastic has eased the life of both customers and merchants alike. You can now bid goodbye to your fears of carrying cash in your wallet when you go shopping, or worry that your cash is not enough to pay for your purchases. Ordering goods and stuff from online stores has also ceased to be a problem. A few clicks on your computer will guide you to the different online stores and you can finish transactions in just a few minutes without even leaving your home.
This convenience brought the number of credit card applications on the rise, but not all applicants will be given physical cards. Some will be disappointed because despite the fact that card suppliers spend much time and money to entice new customers, not all applications can be approved.
There are several factors why credit card applications are rejected. Errors in filling up the application forms could be one factor. These could be little mistakes and discrepancies in the personal details like zip codes, telephone numbers and others.
Another reason could be your failure to fill up all the mandatory fields in the application form. In most cases, these mandatory fields are usually marked with an asterisk so you should not miss these.
Unreadable handwriting could be another factor why a credit card application gets rejected. With thousands of application forms waiting to be processed on the tables of the company sales representatives, a form which cannot be read will surely be doomed for rejection. These are examples of human errors that serve as deterrent to the processing of your credit card, but these are repairable. You only have to correct the mistakes and fill in the missing information and the only problem would be the delay in your getting the actual card.
The biggest reason for rejection of applications for charge cards is bad credit ratings. If you have made several defaults in your previous bills, you will have to pay fines and late fee charges and this will give you a negative credit history. Building a good credit rating is important because your past performance is the cementing factor that will pave the success of your future applications for a bank card.
If you had been paying your loans or credit card charges on time in the past, it will reflect on your credit rating. Do not think that you can run away from your past records because every time you file a credit card application from any card supplier, your records will be calculated by credit bureaus who also get feedbacks from other credit suppliers.
