Credit Card Applications: Affected by False / Missing Information

Throughout life we all complete a variety of different applications whether it is a job application, mortgage application or credit card application.

Each of these proves essential to access suitability and therefore I cannot stress the importance of completing applications fully and most importantly, correctly.

When lenders come to access your credit card application, it is based on a scoring system and depending on whether or not you meet the minimum requirements, any missing or false information provided in the application can result in one being refused where perhaps they may have normally been accepted.

It will completely depend on the individual lenders as to what their in house credit scoring system is but many potential applicants are unaware that by completing information that is perhaps out of date or false (however slight) then this can greatly effect any credit card application.

It is frequently stated in the terms and conditions of any application to ensure that all information is completed as fully as possible as this may affect the overall outcome so by taking the time initially, this will save time later. 

What could lead to an application being refused?

This is the part that can cause confusion when a credit card application is submitted, but what results in many applications being turned down?

It is not one particular part of an application which results in a credit refusal but a number of things so by ensuring that you complete an application as fully as possible, it will not lower your score on the in house system implemented.

1. Middle name/s. If you have a middle name/s then include it/them because whilst this won’t affect your credit card application tremendously, it could be the difference between a yes or no
2. Addresses. Slight differences with house numbers / names could result in discrepancies arising or it could purely be down to a written error. Ensure that all applications are correct before being submitted. The biggest issue with addresses is with new houses that may not show up on lender’s systems. In a case such as this, to support your application, send proof of address as this will alleviate any queries that could come to light.

If you want a higher chance of being accepted when your credit card application has been submitted then it would be almost essential that you are included on the voter’s role. This in itself will prove your address of residency and will confirm that you are who you say you are.

In most cases, if a potential customer has an excellent credit rating then this will not make much of a difference overall but it will work in your favour that you are enlisted on the voters role.

By ensuring the above, it will make the entire transition a whole lot easier and acceptance is a higher possibility if you just take the time to check all the details are accurate and that it is completed as much as possible.