The adverse action letter will give you the specific reason or reasons your credit card application was denied. The letter will also include instructions for getting a free copy of your credit report if one was used in the decision. While you’re waiting to get your letter, here are some possible reasons your credit card application could be denied. If you’re familiar with your credit history, you may be able to guess which of these explains why you weren’t approved. Your recent payment history is better for predicting how you’ll handle a new credit obligation than history from several years ago. For example, a 90-day late payment from six months ago will hurt your chances of getting approved more than the same negative entry from six years ago. Your credit report must contain at least one account that’s been active in the past six months for FICO to generate a credit score for you. Without a credit score, the credit card company is more likely to deny your application because it can’t gauge your creditworthiness. If you’re just starting out with credit, consider a secured credit card or student credit card to get your credit history started.
