There are some great credit card deals on the market, but unfortunately not everybody will qualify for them.
For too many, those tempting 0% credit cards and the best rewards credit card offerings are tantalisingly out of reach.
That is because credit card issuers are only obliged to offer their advertised headline rates to 51% of applicants.
You only need a small blemish on your credit record, and you could be offered a hopelessly inferior rate, or turned down altogether.
However, there are honourable exceptions.
Unfairly rejected
There are a number of reasons why you may be turned down for a credit card, and not all of them are fair.
Incredibly, if you have never taken out credit before, many lenders will consider you too risky because you have no credit history. Meanwhile, others may reject you if they think you have too much credit!
If you are not on the electoral roll, again, you could struggle.
Others are rejected because they have have missed the occasional monthly bill, such as a mortgage, rent or mobile phone payment.
Just one slip will show up on your credit report, making it harder to get a leading credit card deal.
This can happen through no fault of your own, such as illness, losing your job, a relationship breakdown, delayed universal credit payment, and so on.
Which is why you need to understand your credit score.
This card says yes
If you are in that awkward position, the icount current account with prepaid Mastercard® could help dig you out of it.
That is because it does not run credit checks on applicants, but offers 100% guaranteed acceptance, with no waiting.
Rather than finding reasons to reject your application, the icount current account with prepaid Mastercard® prefers to take a positive view.
Keep it clean
The icount card is one of the most attractive ‘no credit check’ cards, because it then works with you, potentially helping restore your clean bill of financial health.
Like the best credit cards for bad credit, it could help you rebuild your credit rating so you can qualify for a top deal next time you compare credit cards.
All you have to do is make every monthly payment on time, and the card’s innovative CreditBuilder will report your progress to the various credit reference agencies. Just keep on top of all your other bills, too!
Build it
You cannot borrow money on the card, only spend what you have previously loaded, say, from your salary, benefits payout, or a bank transfer. That is how credit cards and prepaid cards to build credit work.
Once you have showed you know how to handle your money, you can then start applying for those exciting 0% credit card deals again, this time with a much greater chance of success.
If your credit application has been knocked back, why not order the icount current account with prepaid Mastercard® and start building now?
