Re-evaluate lifestyle and finance for a strong credit report

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Re-evaluate lifestyle and finance for a strong credit report

The head of personal finance at Fool.co.uk has advised that people who are turned down for credit cards to look at their finances and re-evaluate their lifestyles.

David Kuo suggested that would-be borrowers are generally refused credit because they have previously defaulted on payments or they have excessive amounts of debt compared to their income.

He said that people need to ask themselves why they have been turned down and put themselves in the position of the lender.

"What you need to do is find ways of repaying the debt that you have and once you have done so people will start lending you money again," Mr Kuo recommended.

According to MoneyExpert.com's research, more than 18,000 credit card applications are being turned down every day.

It found that seven per cent of the population have been refused a credit card in the last six months.

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