Credit Card Application Forms look simple enough. Type in your name, a few details and hey presto - you're done!
A lot of people will fill out the forms only to receive a message saying they have been declined. But did you know that a lot of people get declined not because their credit profile is not good enough, but simply because they made a mistake in the application form?
I go through each of the 8 mistakes in turn and tell you important things you need to look out for when applying for a credit card and a few tips on questions which can immediately result in a decline if you answer them incorrectly.
00:00 Introduction
00:35 1. Incomplete personal details
03:06 2. Salary inconsistency
05:33 3. Employment status
07:32 4. Expenses
09:51 5. Triggering fraud flags
10:58 6. Do you expect your financial situation to change?
12:26 7. Do you want to make a cash withdrawal
13:32 8. Applying too frequently
14:47 Conclusion
A lot of people will fill out the forms only to receive a message saying they have been declined. But did you know that a lot of people get declined not because their credit profile is not good enough, but simply because they made a mistake in the application form?
I go through each of the 8 mistakes in turn and tell you important things you need to look out for when applying for a credit card and a few tips on questions which can immediately result in a decline if you answer them incorrectly.
00:00 Introduction
00:35 1. Incomplete personal details
03:06 2. Salary inconsistency
05:33 3. Employment status
07:32 4. Expenses
09:51 5. Triggering fraud flags
10:58 6. Do you expect your financial situation to change?
12:26 7. Do you want to make a cash withdrawal
13:32 8. Applying too frequently
14:47 Conclusion
How cam you correct the mistakes you make in the application form and can you reapply again immediately after you are denied and they said they suspected fraud .thanks
Love your videos! Thanks for sharing ur knowledge
Sasha, thank you for the great advice. I've just been accepted for a rewards credit card with my own bank where previously I've been rejected. Turns out, it was down to me not taking care with ensuring the info was accurate etc. Great advice and thank you!
I have had massive issues with fitting my full legal passport name into credit card forms. Many of these forms have character limitations, but my surname is longer than 20 characters and hence gets truncated, won't fit etc. The truncated name is not exactly the same as what is listed in the credit reports, hence automatic rejections. It's a huge headache. I don't understand why lenders can't make their forms more robust in the era of IT.
Hi very nice video, if I'm applying for a credit card application, please suggest should I count my wife as a dependent if she is working part-time and currently on furlough? or just my kids who are studying.
You mentioned other products that provide cash, do you have a video covering that subject already please? Have liked and subbed, great content, thanks so very much. 🙏☺️
Hi Sasha, if my rent is £1000 but includes all the bills should I report it as £1000 or report a slightly lower amount, say £900 to account for the fact that not all of that money is actually the rent?
Thanks for sharing 👍
Another great video – thank you for sharing your insight – very helpful!
Do you help US citizens acquire UK business credit cards? I own an LTD from 2019.
I now know why l was declined credit card, this is very informative and it was shared at the right time.
I wish I found this video 3 days earlier. xD I did everything wrong! I am new to credit cards, I have used debit my whole life. I have been a bitcoiner since 2013 and I hate the concept of debt, I believe it causes boom and bust cycles and moves wealth from the middle and bottom classes to the top 1%. I matured enough finally to realise that I can't change the world and I need to play by it's rules if I want to be successful so I started researching credit scores etc recently. I always have a VPN on and it drops out occasionally so I have the habit of reconnecting to a different country every time. I applied for 15 different credit cards and because I am not comfortable giving my full name to strangers online I didn't give them my full name. I used initials and I got rejected over and over so I started testing with different employment status, different income, I did not think it might be logged so I tried to brute force it xD. I hope they can't link all my applications together, that would ruin my score. I even used different emails on them from tempmail, I have the habit of not giving my real email to random websites. I got approved for the Barclays one only because it was one of the first ones that I applied for. Maybe because I have a 4 year old account with them, even though I have not used it at all since 2018 when I got Monzo. I guess my best bet is to wait for it to arrive and to use it for 3 months and maybe try 118118 again because I do travel a lot for work. But if just applying can affect my score I can really sabotage some people that I know the birth date and names of. Every noob on facebook pretty much. I might even be able to make a bot that scrapes people's names and dates of birth and emails from their profiles and applies for credit cards 1000 times per day. Maybe that will push the banks into fixing their outdated ways of applying. I can't imagine they will be stupid enough to allow this to work. So my score should be pretty safe, even though applied with so many different variations of the data.
Hey! Is it a good idea to get a credit card (for a beginner) from the bank you have been with for years or from a different bank?
Hey! I have a question that has been bugging me for a while: I've been doing unsuccessful eligibility checks for multiple credit cards recently, and while I know they say they don't influence your credit score, I was wondering whether this is true or not. I'm worried that my repeated failures are getting stored in some database and are going to haunt me later on.
And btw, thanks for these videos, they've been really helpful! Keep them coming!
Have you done any of these mistakes by accident in the past? Let me know below!