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Credit Card Guide » Bad Credit Report http://ecreditcardrates.com Tue, 23 Feb 2010 02:48:51 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Save Your Credit Score and Save Your Mortgage Application From The Big Fat Declined Stamp http://ecreditcardrates.com/save-your-credit-score-and-save-your-mortgage-application-from-the-big-fat-declined-stamp/ http://ecreditcardrates.com/save-your-credit-score-and-save-your-mortgage-application-from-the-big-fat-declined-stamp/#comments Wed, 28 Oct 2009 01:00:07 +0000 Alex Bhaswara http://ecreditcardrates.com/?p=736 “I’m sorry ma’am, but your application has been denied. But if there is anything else we can do to help, we’d be happy to take a look at it for you and see what we can do to help!”

Yeah, right!

I don’t know about you, but in my experience there is nothing more disheartening than having your application for credit rejected, just when you had your heart set on that new home, sports car, or perhaps just a new couch.

Having a bad credit report can mean the difference between having your dream car and driving a heap of junk until you can save enough money for something decent. Or it could mean the difference between buying your first home together as a married couple, or getting stuck in the rut of renting and trying to save a deposit at the same time. Large or small, a bad credit report will bust any finance application in a flash.

How do you know if you have a bad credit report? Wwhat can you do?

Chances are you have already applied and been declined. In hindsight, the ideal situation would have been to get your credit report before you submit an application for credit. But at the risk of sounding cliche, hindsight is a wonderful thing.

The next best thing is to find out what you are up against. Get hold of your credit report then first and foremost, make sure everything that comes up is actually correct. It could be that a simple error has caused you to lose out. The sooner you get onto anything like this the better. You certainly don’t want to continue to be penalized for someone else’s mistake.

In the meantime, I can’t stress this enough – do not keep applying over and over in the hopes that someone will approve you. This will make matters ten times worse. Every application is recorded on your credit report, as is every one that is declined.

Get hold of your free credit report to check your financial health and make changes where necessary, so you don’t miss out when that next high-ticket item catches your eye!

If you find that there are areas of your credit report that really need some work, make use of the free mentoring that some credit institutions offer and seek their professional advice on how to restore your credit score to good health in the shortest time possible.

Act fast and you’ll be back on track soon enough. Click here to get instant access to your credit report free!

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