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credit card application i tried to apply an american
express credit card at
applyclear.com and my
application was denied, 2
months ago i requested i
requested credit line increase
from bank of america and it
was denied and i applied a
second credit card in bank of
amrica it was denied as well,
are these things ruin my
credit report?
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When you apply for new credit, it will show on your credit report. That can potentially be viewed as a negative factor (for example, a prospective creditor could view it as a negative thing if you applied for several credit cards in a short time frame, etc.). You are entitled to a copy of your credit report - the denial letter you received should detail what agency was used and how to obtain a copy of that report. You may want to review the report and see what negative items are on there, in order to figure out how to proceed to improve your score. |
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Go to annualcreditreport.com and get a copy of one of your credit reports, not all three though. Look at it and see if there's anything on it that's questionable -- could someone else have used your credit? Did they get something wrong? Learn how to read it. You can dispute items that are wrong. You should also learn how to repair your credit: google Dave Peters and read articles he's written. You can get some good free advice online through his writings. |
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You can go ahead and do whatever the other two before me said to do: but I would honestly use a debit card instead of credit. The best way of developing good credit is by buying a car and making the payments on it on time every time. |
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Yes these denials are hurting your credit score. You can get a copy of your credit history at: http://freecreditreort.com This should help. |
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As it is denied try to go for some other cards. You can find some cards with as less as 0% intro apr with rewards and it is for first 12 months. You can also try to repair your credit first and then go for some cards and for that you can get free Quotes. To know more you can visit http://www.creditcardbiz.blogs pot.com and http://www.onlinepaymentoption .blogspot.com |
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Having a poor credit history and applying for the gold, platinum or other such credit card for which a good to excellent credit history is essential prerequisite, will only frustrate you. The denials, rejections etc. can cost you mentally as well as financially. So, it is always better to confirm with the credit card company about the credit history requirements. Apply online at: http://www.credit-card-gallery .com/Guaranteed_Approval.html and get guaranteed approval. |
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You can visit www.cashguru.info and find very useful tips and several articles on credit related matters. |
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Multiple inquiries in a short period of time can lower your credit score. |
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