How disapproval of credit card application affects credit history?

I have applied for a credit card and got disapproved as they says I have limited credit history. Does it adversely affect my credit history and score? Should I go ahead and apply for another one now?|||The disapproval itself will not show up in your Credit History. The the only impact to your score is that related to the Creditor pulling your Credit Report, called a "Hard Inquiry". It's not a big hit, but the Credit Bureaus do track Hard Inquiries for the last twelve months and it could impact your score if there's been too many.|||It can do. You'd be better to wait and try and find out more information as to why they've refused you. Another refused application will definitely hurt your credit rating.





The best course of action will depend a lot on the amount of other financial information a company looking to offer you a card can see on you via the credit referencing agencies, and you credit score. If you have lots of positive history, you've been resident on one place for a while, this issue will quickly fade into the background. If on the other hand this application is the only information they can find on you, it will be there looking awkward for around a year or until something positive comes along that sends positive messages to any lender.





If you contact the credit reference agencies, and get a copy of your credit report, you'll get a pretty good idea of how the credit card company is seeing you. What they're looking for is evidence of you being financially responsible. Being on the voters roll, the register of electors is very important.





You need to start to build some positive news on the credit reference agencies files, and then these issues will soon become old news.





Take a look at my blog there's a lot there about improving your credit rating.





http://www.cardchoices.co.uk/credit-card鈥?/a>





you can also get a free copy of your credit report.





http://www.cardchoices.co.uk/credit-card鈥?/a>|||Making many credit applications will negatively effect you rating, suggest you keep a close eye on your credit record.





I agree with above, try not to get into much debt, however do have some debt and pay it of promptly and where possible in full, so that it builds your credit for the futor, when you need credit for a large purchase like a car or home.





Get you hands on your credit file, it鈥檚 an eye opener.





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Hope this helps








Daniel|||You don't need a credit card, stop applying. Do not get into debt. Pay for everything in cash. A good rule of thumb to live by is if you can't afford to pay cash for an item, you can not afford to use credit to pay fro an item. My family makes less than $40,000 a year, we have a house and two cars, paid cash for all. If I can do it, anyone can, regardless of income. Save money and pay cash! For more information visit www.daveramsey.com.|||No you shouldn't apply for another one now, too many inquiries can lower your credit score because it will make you look credit hungry. Leave some months in between credit applications.