Brits fear credit card rejection will tarnish credit score

Almost 40% of people will not consider a credit card, as they fear an unsuccessful application will damage their credit score, according to a survey by Confused.com. This is despite the fact that 12% of people polled, reported that their credit score has actually improved over the past 12 months.

But those who want to take advantage of the benefits that can come with the responsible use of a credit card or want to manage credit card debt that they have already built up, can reduce this risk. The credit scoring tool on the Confused.com website checks which cards on the site will be the most likely to accept them, and it doesn't leave a credit footprint.

Joanne Garcia, Head of Credit Cards at Confused.com said; "With providers tightening criteria and rejecting many applications our free tool puts you one step ahead. You won't waste time applying for deals you're unlikely to get. Not only can that be frustrating, but can also leave footprints destined to jeopardise the chances of borrowing in the future"

Garcia adds; "22 - 30 year olds are the most concerned by the potential of a black mark on their credit score, as the financially savvy young look to the future and see problems about not only getting a credit card or loan, but also to finding a decent mortgage. But now there is nothing to stop them from checking to see if they have a good chance of being accepted."

"At the very least, people should check their credit file as they need to make sure all the information is correct - they can do this for free via Confused.com. It's really worrying that three out of four people have not checked over the last 12 months"

For those who don't have a great credit rating there is no magic wand to fix it, but there are ways that it may be improved.

Confused.com's top tips for improving your credit rating

Check your credit record and ensure that it is accurate.Ask for any errors to be corrected.

Register on the electoral role.

Ensure that you've paid off any County Court Judgments in full.

Set up direct debits to ensure that you don't miss any repayments - it's important to have a consistent history of repaying any loans on time.

As well as cutting up cards that you no longer use, close any unused credit accounts fully.

Don't move around too much.The longer you are at your current address and employment, the better.Having a landline can also help.

Don't make too many applications.If you are rejected, try to find out why and rectify the problem before continuing.