Why Do Banks Reject Applications For Guaranteed Credit score Cards? – Charge card Insider

< iframe size="425" height="355" src="https://www.youtube.com/embed/N5dKzaRrdlE?rel=0" frameborder="0" allowfullscreen > Today’s concern is: Why do banks often turn down applications for protected credit history cards?

Ask us your credit history questions in the comments as well as discover more about secured cards below: https://www.creditcardinsider.com/credit-cards/secured/

Secured cards are usually targeted to consumers with poor or no credit score. The candidate will certainly make a deposit to the bank, then receive a card with a credit line based on that deposit. Sometimes, however, an individual could be rejected for a secured charge card although they money the deposit. It ends up that these situations are not constantly extremely lucrative for the card company, bring about an unexpected number of denials.

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