Survey Shows 70% of Americans Would Boycott Banks Rejecting Credit Applications

Esther Pigg
Senior Vice President, Product Strategy FIS Global Retail Payments
Posted on November 4, 2016

Credit Card Rejection

It’s no secret that no one really likes rejection.  According to a recent Nerd Wallet survey, this is a very apparent when it comes to credit card applications.  In the survey, 70% of Americans say “they would turn their back on a bank that rejected their credit card application.”

Credit applications get rejected for many reasons including having poor credit, too much debt, and lack of credit history, but many Americans believe that having too many credit cards and previous rejections from other card companies plays a role.  This is not the case.

Even in the face of rejection all ranges of demographics, especially Millenials, are making efforts to fix their credit.

You can read the full article “Rejected for a Credit Card?  7 in 10 Would Boycott the Bank, Survey Finds” on Nerdwallet.com.

Leave a Reply

Esther Pigg
Senior Vice President, Product Strategy FIS Global Retail Payments

Esther leads the Product Strategy team for the Global Retail Payments division of FIS that spans debit, prepaid, credit card, merchant, network and loyalty programs. With extensive experience across the banking and payments technology industry, Esther focuses her team on developing long term product strategy for U.S. and global retail payment products to effectively engage the markets FIS serves.