Don't re-apply

If you have been declined and still need the credit you applied for, you shouldn't rush into applying for another account.

Each credit application will appear on your credit record, so if you make several in a short time, it will tell lenders you are desperate for credit. This can put them off lending to you.

Ask why you were declined

Contact the lender who declined your application, either by phone, email or letter.

They can tell you the reason your application was declined but may not be able to specify the exact cause.

For example, they could tell you it was because you failed a credit check, but you will need to look at your credit record to find out exactly why.

Check your credit record

If you were rejected because of something related to your financial history, you can check your credit record to find out what is affecting you.

Your credit report should highlight anything that is working against you. For example, you have missed multiple repayments on your credit card in the last 12 months.

When to apply again

You should wait a few months before you make another credit application. You should also check that you meet the application criteria before applying.

Here are some tools to help you before applying for a: