You are never guaranteed to be accepted for credit. However, there are a number of things that you can do that will increase your chances of being successful in your applications:
- Only apply for one credit account at a time. Wait for the response before applying for another one. If a lender sees that you have made a lot of credit applications in a short space of time, they are likely to reject your application. They will do so because all the applications makes it look like you rely on credit to get by, and that you could struggle to pay them back.
- Check that your Credit Report is up to date and accurate. Check that your details are all correct, your accounts are accurate and check to see whether your connections with your financial associations are as they should be. If you’re incorrectly associated with someone with a bad credit score it could make it harder for you to get credit.
- Look through your Credit Report and try to find quick changes you could make to improve your score (registering on the electoral roll or paying off one of your credit accounts).
- Consider which the best financial product is for you – credit cards, loans, balance transfers and overdraft extensions could all provide you with credit. Some financial products are easier to obtain than others (extending your overdraft may be easier than getting a new credit card).
- Take a look at our financial product recommendations for you. These are our suggestions for you based on your credit report and score. Although you’re not guaranteed to be accepted for these deals, you are less likely to be turned down.