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Thursday, 6 March 2014

What effect does your choice of university have on your future chances? has been studying students’ movements after graduation and it has been suggested from these studies and surveys that at least 40% of students who have graduated end up staying to work in the same place that they studied. This could be one of the main contributing factors that leads to the notion that because students stay in the same area after graduating that this has an effect on their credit card rejection/acceptance ratings.

Your choice of university, particularly its location, can have an impact on the credit rejection rate and studies have shown that going to university in Edinburgh for instance, could affect your credit rating. Typically, the
North has higher levels of credit rejection than the South which could be due to the number of students which stay in the region that they studied. Nearly two thirds of graduates who studied in the North West region have stayed stay there after graduation, as well as nearly 80% of graduates in Scotland staying when they complete their studies. This has led to the possibility that students remaining in their area of study has an impact on credit card ratings.

Edinburgh is the 71st most likely place to be rejected for a credit card in the UK (Overall Adjusted Reject Rate 60.5%) which may not seem too high in comparison to other areas but it is worth noting that this percentage is on the rise. In order to discover what areas of the UK are most likely to be accepted or declined for credit refer to Totally Money’s credit card map to see how your area rates against the rest of the UK by simply entering your postcode or clicking on the map itself.

65% of all credit card applications were rejected last year in the UK. This has probably had a negative impact on those who were rejected because a rejected application can have a negative impact on your credit score and affect your ability to borrow in the future. You can increase your chances of being accepted for a card by 250% by using a tool like the Totally Money comparison tools that can provide you with the percentage change of being accepted.

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