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March 2007
Credit Card Crack Down

New research shows that credit card companies are getting tough with nearly 3.8 million people seeing their applications turned down over the past six months. It is estimated that over 15,500 credit card applications are rejected each day with the rising amount of bad debts forcing them to tighten rules on new applications.

It is believed that 6% of Britons have seen card applications rejected in the past six months with people aged between 25 and 34 being the most likely to have their applications turned down (11%) compared to 8% of those aged 18 – 24 and just three per cent of the 55 and above age group.

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Artilce referenced from http://www.financedaily.co.uk/showNews.aspx?loadID=00401

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