Will getting denied for a bank credit card lower your credit score, and if so by how much?
446142
The actual "denial" will not lower your score. However, the inquiry itself could have lowered your score, but only a few points depending on the total number of inquiries. Try to focus on the factors which might have caused the denial: newly opened accounts, poor payment history (late or missed), too many open accounts (debt-to-income ratio), or even bankruptcies or liens. Improving all of these factors, and keeping up with what is on your credit report will make it easier on future obligations. Good luck;-)
588552
If you have issues with credit, best not to get a credit card.  The companies who will give you one will charge insanely high interest and you may get into debt again.  If you're trying to build credit, you should be able to get pre-approved through your own bank.
664785
if you are trying to open a Bank Account & you have Very bad Credit yes it can mean no bank Accout for you,Although Now A days Banks Relay on Credit Reports to help them keep away from People That Have Bad Credit or low Credit scores This helps them to have a Better business, & helps them to avoid People that Bounces Checks to many times & costing them Money,I beleave, Keeping A Good Credit report you do not have much to fear about
624423
If you are shopping for major investment loans, like for homes or cars, all inquries made within a 14 day period count as 1 hard inquiry. (as long as they are all the same kind of inquiry) This rule does not apply to credit cards.\n\nBut otherwise, each hard inquiry can shave 2-50 points off of your credit score.\n\nSo when shopping for credit, you must do your homework ahead of time, and organize your efforts accordingly.\n\nTake care,\n\nI.C. Jackson
268916
Not if you close the old account.  If you keep it open, it will add to your "available" credit and lower your score.
176678
Not necessarily. The computer can only check numbers: things like your income, how many other credit accounts you have, how many other people have looked at your credit report, your credit score, etc. The "further processing required" message could mean lots of things. Perhaps the information isn't good enough for an "automatic" approval but will go to a human for a final decision. Maybe there was some reason it couldn't get your credit information right away. And yes, maybe they don't want to tell you that you were denied right away. Maybe a lot of things.\n\nIf you are denied credit, the company will send you a letter specifically stating that you were denied and why. They will also list the credit reporting companies from whom they got your credit information. If you were denied credit based on that credit report information (as opposed to something like "insuffcient income"), you are entitled by law to a copy of your credit report at no charge.
1063403
You can have a pretty low credit score and still get a loan. The only thing is, it may be a really bad loan. It might have lots of fees and a much higher interest rate.\n\n**Edit:\n\nI have read that some people got loans with scores as low as 530, but they admit that the terms of the loan weren't the best.
447092
BankRate.com offers advice on this very matter.  Their suggestion focuses on Secured Credit Cards, which are essentially a card that you pay a deposit on.  This deposit essentially becomes your credit limit while at the same time making the credit card much less risky for the holder (though it is still reported like a regular credit card):\nhttp://www.bankrate.com/brm/news/credit-management/secured-credit-cards.asp\nand\nhttp://www.bankrate.com/brm/news/DrDon/20060414a1.asp?prodtype=cc\n\nBefore you act, make sure you read the Federal Trade Commission's warning on some of the scams related to secured credit cards: http://www.ftc.gov/bcp/conline/pubs/credit/secured.htm\n\nThe following secured credit card seems legit: http://www.usa.visa.com/personal/cards/credit/visa_secured.html?it=c|/personal/cards/index%2Ehtml|Visa%20Secured
1037963
Yes, every time you apply for a credit card it goes into that big system in the sky.  You need some credit, but if you keep applying, it actually goes against you.
23180
You can apply but you better have OTHER SOURCES (alimony, child support, allowance, etc) of income to provide as proof of you having some kind of money to pay, otherwise they will deny you. The only other choise is getting a Secured Credit Card. Where you place money in a bank account and your credit limit is the amount that you put in the bank (you cant use the money in the account though, its basically collateral). If you seek a Secured one get it from a well known bank though like Bank of America. They have a lot of banks and companies that offer them but they tack on huge fees. Like for a $200 card after they apply their various assorted fees your credit limit will be $50. Large reputable banks however may only charge you a $40 annual fee for the card.
1158619
Well, it depends. How long have you had your credit card? Have you paid on time? Have you ever maxed it our or gone over your limit? If you have been a good client, they are likely to lower your rate. If you have good credit, you can always check out the hundreds of credit card offers out there and transfer your balance to a zero interest card! Most companies have teaser offers to get you to switch to their card. No interest for 6 months, then 7% thereafer, something to that effect. If you Google 'find the right credit card' you can find the many sites that show you what offers are out there. Remember not to apply for several cards at a time. That can lower your credit score. Make sure you do your homework if you are going to switch and then only apply to that one. Hope this helps!
428713
It is true that inquiries lower you credit score, but it's amazing the type of companies that are out there! There is always a company willing to refinance. Go on line and check it out, and try to get in touch with an actual person to ask your questions, that way you don't have to submit an application. Good luck!
33893
I would personally stay away from any type of credit card with bad credit.  The credit card companies may qualify you but at a higher rate. The temptation may be there but the best plan of action is to either pay for the purchase up front.
132971
Check the smaller banks. I have terrible credit and still have a checking account, visa check card, and overdraft protection.\n\nI found out really quick when I opened my account that the smaller "Mom-and-Pop" banks don't check your credit. The big ones will almost alway deny you or offer you some sort of crappy account that isn't worth it.\n\nI use a bank called City National. If they have them in your area, you might check them out.
377586
Do not take out a credit card if you are trying to raise your credit score.  The credit check they do on you will actually in the short term have an adverse affect on your score.\nThe best thing you can do is take out a small personal loan from a bank and pay it off in about six months.  Then do it again.  As long as you haven't done anything to further hurt your credit, it will improve your credit a great deal.
735241
When my score was around 525, last year at Christmas I got approved for a Target credit card, but other than that, the only card I know that is legitimate for bad credit is the Orchard Mastercard (the one you see advertised on Yahoo). Good luck!
254857
STOP APPLYING FOR CREDIT CARDS!\n\nIf you have been denied, don't apply again for a year at least.  Every time you apply, a notch goes on your credit history.  You are making your credit worse every time you apply after you are denied. \n\nIf you are wondering what happened or what the status is of a previous application, call the bank or the company you made the request to and they will resend the result to your home.  Otherwise, just start spending less and save your money because a credit card might be a year or more away for you.