A new report suggests there may be more to securing a new credit card than good credit management.
The report cites a growing gap between the way credit companies view those with jobs and the unemployed.
Those with good credit management are currently reaping rewards, such as 0 percent APR balance transfers and rewards credit cards that are offering more cash back and miles than ever, according to the Christian Science Monitor. Although recent figures have shown the amount of this debt has dropped 16 percent over the last year, the report suggests the reason for this may not be actual debt repayment.
Millions of unemployed Americans may be getting cut-off by lenders, and as a result of this neglected debt, consumers may not be saving as much as reported, according to the news source.
The report goes on to suggest it may be years before those with trouble credit histories are given similar advantages to those with good credit management, the Monitor reports.
The report cites a high rate of unreported unemployment and low approval rates for new credit cards as potential reasons for the gap in numbers.