One in 14 credit card applications are rejected

Posted 2008-04-23

Up to 18,000 credit card applications are being rejected every day, according to a recent survey.

Research by price comparison site MoneyExpert.com has revealed that banks are turning down prospective customers over fears about the amount of personal debt in the UK.

Over the last six months, 3.24 million people had their requests turned down and the sites Sean Gardner believes the tables have turned in the credit card world.

"For years borrowers have had the upper hand in the credit card game but the rules have now changed. People with debts who thought they could keep shuffling their cards to stay ahead are now running into trouble," he said.

Mr Gardner also warned would be applicants that they should be reasonably confident of acceptance before applying, as a rejection could lead to a black mark on their credit reports.

MoneyExpert.com is an independent financial advisor with over 20 years experience.

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