I applied for a credit card recently, but my application was declined. What are my best options? Can I be approved if I apply for another credit card?

Every credit card issuer has different standards for evaluating and approving applications. If you are rejected for a certain card, you may still be approved by the same issuer for a different card, or by another issuer whose approval standards may be different.

1. A credit card issuer is obligated to provide you reasons for a decline of your application. Review the reasons to see whether you can make any changes to increase your chances of obtaining a card.

2. If your annual income is $20,000 or less, do not apply for a card that requires a minimum annual income of $35,000. Apply for a card that requires lower annual income to qualify (see the tables on our website for the “minimum annual required income to qualify” to chose a credit card that you may be well qualified for). This may prevent unnecessary application rejections.

3. If you have already had several credit card applications declined, you may want to try to improve your credit history. Even though your credit history is the history of your payments and other activities in the last seven years, most of the issuers place an emphasis on the last 12 to 24 months. If you have not been paying your bills regularly, make sure you start paying all your bills on time, and according to the agreement, in order to improve your credit rating. This includes your phone bills, utility bills, rental payments, and all other bills and scheduled payments. You may want to try to apply for a credit card again after a period of several months after your credit rating has improved. Remember, the due date for your payment is the date by which the credit card issuer should receive the payment, not the date by which you should pay your credit card bill. Therefore, pay your bills several days before the due date stated on your bill.

4. If your credit card application was unexpectedly declined, make sure your credit report does not contain any mistakes, or activities that you did not approve of, such as illegally opened accounts in your name by another person. You can obtain your credit report from one of the three major U.S. credit bureaus to verify its correctness. These three major credit bureaus are www.equifax.com, www.experian.com, and www.tuc.com.

5. If your credit rating has been damaged, or you have not had an opportunity to establish your credit history so far, and you are not able to obtain an unsecured credit card at this time, you may want to try to apply for a secured credit card. Credit card issuers often guarantee that no one's application for a secured credit card will be declined if he or she agrees to the terms specified by the issuer.

6. In some cases, you may be declined for a credit card because card issuers may feel that the total available credit to your name is already high enough relative to your income. In this case, you may want to close any account that you are not using before applying for another credit card.

7. Some parents may be willing to co-sign on their children's applications. The applicant must be at least 18 years old (this age may be different in some states). Make sure the potential co-signer reads and understands the responsibilities of a co-signer before you ask anyone for this favor. Co-signers take on the same responsibilities that the primary cardholder has for all charges made on the card. Co-signers will be liable for any charges in case the primary cardholder defaults on the payments.

8. You may want to try to apply with a different issuer if a certain issuer declined your applications repeatedly. Another issuer may judge your credit history and financial strength in a more positive way. It is not required to have a checking account or any other account open at the bank where you want to apply for a credit card.