No one likes to be rejected, but “thanks but no thanks” takes on a whole new meaning when it comes to credit card applications. A denial can make you feel discouraged and cause you to question your money management skills.
You may even be reluctant to apply for other cards, and thereby miss a good opportunity. But take heart — you can turn a “NO” into a positive learning experience. Rather than feel dejected and confused, it can be helpful to go over possible reasons your application was denied so that next time you’ll have a better chance of getting a “yes.”
Your Credit Score
Every credit card company generally has an ideal credit score range they’re looking for from application candidates. Usually the more perks the card offers, the higher your score must be.
If your score is too low, you may simply have to wait until you can raise your number by maintaining responsible credit card habits.
If you’re convinced your score is high enough to be eligible for the card, it’s always a good idea to request your credit report (from companies like Equifax) to make sure there’s not an error.
You’ve Applied for Too Many Cards
Sometimes less is more when it comes to credit card applications. An over abundance of applications might signal to potential lenders that you need money and may, therefore, not be a good credit risk. Be choosy about what cards you want and only apply for those that are a good fit. Read our primer on how applying for multiple cards affects your score here.
Your Income is Too Low
Often a credit card issuer will have a mandatory minimum income applicants need to be approved. If you don’t meet this minimum, there is little you can do until you make more money. Some companies will allow you to report a combined household income (i.e. you and your spouse’s total income) and that may push you up into an eligible income range.
Your Balances are Too High
Credit card companies want to know that you’ll make good-faith efforts to pay back what you put on your card. If you have too many credit cards with large balances, then companies will be reluctant to give you access to more money you may not be able to pay back. A good rule of thumb is to keep your balance owing to less than 30%.
You Have Too Many Late Payments
Much like high balances, too many late payments send a negative message to credit card issuers. They will assume you are not a responsible money manager and that your late payments could easily turn into no payments at all. Make a concerted effort to always pay on time and these prompt payments will have a positive affect on your credit score.
All Articles
Delta® Reserve for Business
- Annual Fee: $450 fee
- Foreign Fees: No
- Card Type: Travel
Add to Favorites
- Earn 40,000 bonus miles and 10,000 MQMs after you spend $3,000 in purchases with your new Card in the first 3 months.†
- Earn 15,000 Medallion® Qualification Miles (MQMs) and 15,000 bonus miles after you reach $30,000 in eligible purchases on your Card in the calendar year.
- Earn 2 Miles per dollar spent on eligible purchases made directly with Delta. Earn 1 mile on every eligible dollar spent on purchases.
- Settle into your seat sooner with Priority Boarding and enjoy 20% savings on eligible in-flight purchases in the form of a statement credit.
- Pay no foreign transaction fees when you spend overseas.‡
- Complimentary Delta Sky Club® Access.‡
- Terms and limitations apply
- See Rates & Fees
Delta® Reserve for Business
- Annual Fee: $450 fee
- Foreign Fees: No
- Card Type: Travel
| FTG Review | Reward Breakdown | Points Breakdown |
|---|---|---|
Breakdown
Earn (pt.)
Spend
3 months
0
$3,000
Per dollar on eligible purchases with Delta Purchases
2.00
$1
All Purchases
1.00
$1
|
||
|
Already have this card? Maximize your rewards.
|
||
