Credit card rejections on the increase

Finance News · #1 (**permalink**) 11-06-2007, 03:35 PM

According to MoneyExpert.com, the financial comparison website, credit card rejections are up 17% compared to the 6 months to March 2007. MoneyExpert.com said credit card companies are clamping down on applications and approximately 3.25 million have been rejected. After the recent turbulence in the credit markets, banks have had to tighten their lending criteria [...]

More: Credit card rejections on the increase

finsub · #2 (**permalink**) 12-02-2007, 10:38 AM

yes, but credit card companies offer better rates

brian · #3 (**permalink**) 12-02-2007, 03:34 PM

Better rates than what?? Credit cards offer some of the worst rates in lending.

Triton · #4 (**permalink**) 12-03-2007, 08:26 AM

They sure do.

LEW · #5 (**permalink**) 06-10-2008, 11:12 AM

It is really hard to get a credit card if you have never had one before as well, especially at this time! I have been rejected and I think it must be because I have never had a credit card before so am unknown - if no-one gives me a credit card however how am I supposed to get any history??!!

AlotAboutNothing · #6 (**permalink**) 06-23-2008, 01:04 PM

Well isn't that problem that the trend with reclaiming unfair bank fees keeps the fees for abusing your credit a bit lower which makes the banks feel at greater risk with their credit. Also people are having difficulty repaying their loans, credit debt, etc so wouldn't the defaults also make banks a bit more wary. And where did finsub get that information

? haha news to me buddy

!

theplater · #7 (**permalink**) 06-23-2008, 06:13 PM

GREAT!!! People spending far more than they can afford has got to stop, if you want a credit card then you have to have good credit... it just makes sense.

jyrrz2666217 · #8 (**permalink**) 06-24-2008, 04:11 AM

Quote:

Originally Posted by LEW

It is really hard to get a credit card if you have never had one before as well, especially at this time! I have been rejected and I think it must be because I have never had a credit card before so am unknown - if no-one gives me a credit card however how am I supposed to get any history??!!

haha, you got answer

jyrrz2666217 · #9 (**permalink**) 06-24-2008, 04:22 AM

I just do not kown what is the lending criteria of credit card in UK ,but as I kown,in China,the amount of credit card owner is small. For most of us We cannot accept the approach at all what is consume in advance and pay back later.

brian · #10 (**permalink**) 06-26-2008, 01:17 PM

I actually use a credit card just for the extra consumer protections - no matter what happens, if you buy with a credit card you get your goods in good shape, or you get a refund - the card company can force this from the retailer in the event of a dispute. If you pay using a debit card, it's up to you to take legal action as required. Personally, I'd prefer a billion-dollar gloabl corporation be my friend to do this for me.