Credit card request rejected.

[pawanneelam]

Hello there,
      I  had a CITIBANK credit card in 2006  and I defaulted on it.  I was just out of college and din't knew the implications. So finally i got it settled  and paid off  sometime in  2007. Last year i applied for  Credit Card with Citi bank but the request did not go through. I was told it could be because I defaulted last time. Well that was my inexperience, I'd like to know how to proceed further and get a Credit Card, So i can maintain a Credit history. I might need a Loan in future. So a credit track record needs to be there.
     Please advise.

Regds

Pawan.
     
   

[cardbhai]

You have the right to obtain your credit report at whichever bank it was declined. Go through Cardbhai.com and you will find on how to get it. If they have reported it as DEFAULT or Settled, you can negotiate for the same but you have to PAY Extra to the Bank and it will get rid of it.

See what's in your credit report and understand it going through the First 3 Posts on CIBIL Credit Report on this forum.

Repairing your credit history - First make sure that you can pay everything you borrow on your credit card. The only way to repair your credit history is make a fixed deposit in a bank and get a credit card against it. There is no RBI rule to give you one, depends on how you negotiate. Then start using it for small purchases and paying FULL every month.

[pawanneelam]

Got it. Appreciate it.