Why would my credit card application be turned down?

There are many reasons why your credit card application could be turned down, and these reasons vary between all credit card issuers.

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What is Credit?: Credit is an extremely useful way of paying for goods or services at a later time, usually paying interest as well as the original money. Offering real convenience, you can choose how to pay back credit in the way that best suits you.
How can I protect myself when buying online?: As long as you have not been negligent, you're always fully protected against fraudulent charges when using the Internet to make purchases.
Where can I pay my balance?: You can pay your balance in a variety of ways, choose whichever best suits you:
Will I get charged Late payment/Overlimit fees?: All credit cards charge you if your payment is overdue.
Can I Have An Additional Cardholder On My Account?: You can have one or more additional Cardholders on your credit card account with most companies.

The general rule is, if they think you are a bad risk for repaying your credit, your application will be rejected. A poor credit rating is the usual reason, caused by County Court Judgements, previously declined applications for credit, defaults on payments, mortgage arrears, repossession of property or if a credit card company has ever cancelled your credit card. Other potential reasons could be that you moved house a few times in the past few years, or someone else in your house had a problem with debt. You may also find it harder to get a credit card if you are self-employed or are on a short-term employment contract – as a regular, guaranteed income is an essential requirement for most credit card companies.

If your credit card application is rejected you will not normally be given a reason why – however if you want to make another application with another credit card company, it’s best to find out the exact reason why as you will be turned down again and again. This will further affect your credit rating. You can do this by contacting the credit reference agency in question to see a copy of your credit report.