No Fun Being Rejected: There Are Lots of Reasons Why You Didn't Get That Card

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No Fun Being Rejected: There Are Lots of Reasons Why You Didn't Get That Card

Dec, 24th 2016

You may think you're living in a Chase Sapphire Reserve world, but your rejected credit card application says "ha, no" — you're really a few tiers down, maybe more of a Chase Freedom Unlimited contender, if you're lucky.

At least you're not alone: Of the people who applied for credit cards this past June, 15% were rejected, according to the most recent data available from the Federal Reserve Bank of New York.

That's slightly better than the 20% with unsuccessful applications in June 2014, but no solace if you're in the unlucky bunch.

Indeed, about half of people polled said they wouldn't tell a friend they were rejected for a credit card, according to a new study by NerdWallet.

Why might that be? Blame perceptions....

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