Good news or bad?

Just received a mailer from a certain bank telling me that my credit card application has not been approved.... hmm... is it good news or bad?

Well, I didn't want it in the first place but just applied because the sales girl looked desperate and I have also planned to not activate the card once I got it. But then not being approve, does this mean that my financial status is not in very good shape? Am I being black listed? *Gulp