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Question of the Day

Types of Credit #26

What percent of credit card applications are declined?

www.ngpf.org Last updated: 3/23/19

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14.4%

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In terms of credit cards, the rejection rate stands at 14.4%. The credit card rejection rate [from 2017] hasn't been this low since October 2015.

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Follow Up Questions

  1. Do you think this number is higher or lower for 18-24 year-olds? Why?
  2. Why do you think are the reasons that consumers applications for credit are turned down?
  3. How do you think this percentage has changed since the Great Recession? Do you think banks and other lenders change their criteria over time as they determine who to/not to lend to?

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