Credit cards applicants need to be 'almost certain' of success
6th May 2008
Consumers applying for new credit cards must be 'almost certain' of being successful to prevent ruining their credit rating, it has been claimed.
According to Fool.co.uk, a number of unsuccessful credit card applications will negatively affect a person credit score, potentially counting against them in the future.
David Kuo, head of personal finance at Fool, confirmed that people had to be certain of their chances before making a credit application.
"Every time you are turned down for a credit card application it counts against you on your credit reference," he said.
"If people are going to be applying for a credit card then they need to make sure that they are almost certainly going to get it before they apply for it," Mr Kuo added.
Meanwhile, research compiled by MoneyExpert.com, has revealed that 18,000 credit card applications were refused today.