When you get denied for a credit card, an account doesn’t get opened.
Therefore, there’s nothing to put on your credit report about the account you applied for because it never existed.
Your credit scores could be impacted if you have too many inquiries in a short time frame.
Does getting rejected for a credit card affect your score?
A rejection doesn’t hurt your score. But your score may drop when you apply for a card, regardless of whether you’re approved or denied. Getting rejected when you apply for a credit card has an extra sting if your credit score drops, too.
Why did I get rejected for a credit card?
Your Loan Balances Are Too High
Having too much existing debt can make it harder for you to take on a new payment. If your loan loan balances are high, credit card issuers might be hesitant to give you a credit card. Paying down your loan balances can improve your chances at getting approved.
How long should you wait to apply for a credit card after being denied?
How long you should wait to reapply for a credit card after an application is denied varies with each person’s situation, so there’s no hard-and-fast timeline to follow. The typical recommendation is that you should wait six months between credit card applications.
What happens if you are denied credit?
If a creditor says you were denied credit because you are too near your credit limits on your charge cards or you have too many credit card accounts, you may want to reapply after paying down your balances or closing some accounts. Sometimes you can be denied credit because of information from a credit report.