I applied for my first credit card, but i was denied! Why is this?
I’m a twenty year-old college student who applied at Chase Bank for my first credit card, along with opening a free checking account, last week. My card was supposed to come in the mail, but instead I got a letter that said this:
“After reviewing the information provided in your application and your credit bureau report, we regret that we are unable to approve your request for a credit account at this time. The reason(s) for our decision are as follows:
Few revolving accounts opened long enough to establish credit history
Not enough accounts opened long enough to establish a credit history
Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency listed below. The reporting agency did not make the credit decision and is unable to provide you with the specific reasons for our decision.”
What on earth did I do wrong?!
How can I have bad credit when I’ve never even applied for a credit card in my life?!
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