 TITLE: What Happens if You’re Turned Down for a Secured Credit Card CONTENT: Reasons Why You Might Get Denied for a Secured Credit Card\n----------------------------------------------------------\nEvery credit card issuer has different criteria for approval, but generally they are all looking for borrowers they can reasonably expect to stay current on their debt payments. Here are some common reasons you may not get approved for a secured credit card:\n*   **Not able to demonstrate an ability to repay debt**: Lenders are required by law to assess your ability to repay any debt you incur on a credit card. If your income is insufficient, even having enough money for the deposit won't be enough to get approved.\n*   **No verified income**: If you claim income on your application, you may need to provide documentation for it. If you can't, your application can be denied.\n*   **Not enough funds for the required deposit**: If your credit is in good enough shape to be approved, but you can't cover the card's deposit, you'll need to wait until you have the required cash to apply again.\n*   **Certain negative items on your credit report**: Some card issuers may deny your application if you're currently going through a bankruptcy, or even if you've had a bankruptcy discharged recently. The same may go for other major negative items, such as collection accounts, repossessions and more.\n*   **Extremely low credit score**: While secured credit cards are accessible for people with bad credit, card issuers may still have a minimum credit score requirement for approval. If you don't meet that requirement, you may need to spend some time building your credit score. END