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Why Your Great Credit Score Still Might Get You Denied for a Card

Why Your Great Credit Score Still Might Get You Denied for a Card

Even with a good credit score, you can still face credit card denials for various reasons. While many people assume that a low credit score is the primary reason for rejection, there are several other factors that can lead to a denial. One common issue is having too many recent credit inquiries, which can signal to issuers that you are a risky applicant. Additionally, some issuers prefer applicants who already have a banking relationship with them, as this can indicate reliability. Specific rules, like Chase's 5/24 rule, can also lead to automatic denials if you’ve applied for multiple cards in a short time. Mistakes on the application, such as incorrect personal information, can also result in rejection. If you find yourself denied, it’s important to review the reasons provided, consider speaking with a representative, and take steps to improve your application for the future, such as waiting longer between applications and maintaining low balances.

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