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Inaccurate Credit Reports
It’s
possible for credit card companies to make a mistake. They may
reflect in their report that you haven’t made a payment,
when you have; or you may share a name with someone who’s
declared bankruptcy. This will lead to clerical errors in your
credit report, so even if you’ve had a really good record
of payments, you’ve accidentally been blacklisted.
It’s always good to regularly ask for
copies of your credit report. If only to double check for errors,
and to monitor how your score is. If you’ve noticed your
score is slipping (must be those bills you keep forgetting to
pay!) then take steps to improve it before applying for a card.
Maybe you can pay off existing credit card balances, or get a
consolidation loan for your debts so that you don’t keep
forgetting to pay those bills and charges (it’s easier to
pay one company than five or six).
Major changes
Credit card companies are often wary of people
who have just changed jobs, or keep changing addresses. They see
this as a sign of unreliability, since the information you gave
them can very well change within the next few months.
If you move around a lot, you should give a
permanent address, like your parents home, which can serve as
your “base” address. And don’t apply for a credit
card when you’ve just quit your job. You’ll get a
higher chance of being approved (and much better interest packages)
if you’ve been with your company for some time.
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