If you were denied because of your credit score, the credit card issuer would send a copy of the credit score and the top factors contributing to your credit score. You could also be denied for a reason unrelated to your credit, like your income, employment history, or if you’re under 18, as long as these reasons are not considered discriminatory. Once you order your credit report, you can dispute any errors that may have caused your credit card application to be denied. After your credit report has been updated, consider asking the credit card issuer to review your credit card application again. You can ask the credit bureau to automatically resend your credit report to anyone who’s reviewed it recently. Your credit score, along with the adverse action notice, will give you a better understanding of why you were denied. Work on improving your credit score to improve your chances of having your application approved next time. Use your credit report as a starting point for repairing your credit. You can improve your credit by disputing errors, getting caught up on past due accounts, paying down high balances, and minimizing the number of new credit applications you make. Interest rates on store credit cards are typically higher, so be careful about carrying a balance. Keep your purchases to a minimum and pay in full to avoid paying expensive finance charges on your balance. Using a store credit card wisely can help you improve your credit score and qualify for a better card in the future. After you’ve made your payments on time for six to 12 months, some credit card issuers will convert your secured credit card to an unsecured one. Once you’ve converted your account, your security deposit will be returned to you. Even if your secured credit card doesn’t automatically convert, you may be able to qualify for a regular credit card after using your secured card responsibly for a while.
