Credit card companies 'reject 18,000 applications daily'

The number of credit card applications rejected by companies across the UK has been revealed by a consumer organisation.

According to MoneyExpert, some 18,000 accounts are turned down every day, resulting in 3.24 million declined deals in the last six months.

This means that one in 14 people have been turned down when it comes to plastic over the same time period.

Chief executive of MoneyExpert Sean Gardner remarked that applicants should be confident in their attempts to get a card as a rejection could see them pick up black marks on their credit reports.

"For years borrowers have had the upper hand in the credit card game but the rules have now changed. People with debts who thought they could keep shuffling their cards to stay ahead are now running into trouble," he said.

Money charity Credit Action estimates that people in the UK are in more than £1.4 trillion of personal debt.

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