Multiple card applications 'bad for credit rating'

Money News

www.moneynews.co.uk > Credit cards > Multiple card applications 'bad for credit rating'

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Multiple card applications 'bad for credit rating'

People who make multiple applications for credit cards could face the prospect of buildind up a bad credit rating as a result, new research has found.

The price comparison website moneysupermarket.com discovered that the total number of people in the UK at risk of poor credit rating could be around two million.

It has been found that ten million people have had their application for a credit card declined in the UK and 17 per cent of these will find it difficult to find the same APR that they initially applied for.

Head of credit cards at moneysupermarket.com Robert Kenley stated: "Our research shows Brits face a bit of a gauntlet when dealing with the credit card market."

He continued: "When consumers are finally accepted for a credit card they are often only granted a higher standard rate than they initially set out to get."

Mr Kenley went on to remark that moneysupermarket.com aims to ask people a series of key questions online before a credit card application is made so that customers can decide which card they stand more chance of gaining approval for.

At moneysupermarket.com, people are invited to compare and contrast a range of financial products online so that they can determine the best deals in the marketplace.

Related News : Credit cards

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet