Capital One - Credit Basics
How To Help Get Your Application Approved. Text Version
'NO' is rarely a nice thing to hear, especially when it comes to credit card applications. But don't worry, understanding the reasons you were declined can help improve your odds of hearing 'YES' the next time.
When you apply for credit (like loans, mortgages, lines of credit or credit cards) a lender reviews your application and your credit score. Credit score is a number that tells lenders how "credit worthy" you are. The better your score, the less risky you are to lend money to. Lenders have to be confident that you'll pay them back, so you can understand why they can be a little picky sometimes.
After reviewing everything, the lender decides whether to approve your credit application or not, as well as what the interest rate and terms will be. Being rejected doesn't mean 'NO' for good, it may just mean looking for a credit product that suits you a little better.