This question is often on people’s minds when they are turned down for credit. They think their credit is okay and when the refusal comes in, they are shocked.
Before you try to get another credit card or loan, realize you may only be making matters worse. Get a copy of your credit report, verify all debt, and then take the steps to rectify your bad credit.
If you were turned down for a credit card or loan, getting a credit report is easy. Generally, the applicant is sent a letter stating the reason for refusal and the credit reporting agency used to obtain the information.
Because you were declined, you are entitled to a free copy of your credit report from that agency. Simply by writing them a letter asking for a copy of your report along with the declination letter, they must supply you with the report.
When no credit application has been submitted, you will have to pay a fee for the credit report. This can be done in a variety of ways.
The first would be to go to a specific credit reporting agency and request the report through their site. Pay via credit, debit, or pre paid card and the report will more than likely be delivered directly to your email. However, the one-time charge can sometimes be a bit high.
The second alternative it so become a member of a credit report site. These sites charge a low monthly fee to access your credit report.
They will also sometimes offer a monitoring service that will alert you if there are changes to your credit report at any time during the course of the month.
In most cases, they will offer the first month and or report for free just to try them out. This may be best, as it will enable you to keep an eye on your credit at a very reasonable price.
Further Credit Report Resources: