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Banker says I have too many credit cards

Frequent Contributor

Banker says I have too many credit cards

I recently applied to my bank for a recreational vehicle loan and it was approved. They had previously financed a RV for me which I have since sold and the terms were 6.2% And now the banker says they will approve me at 7.2%. My score has improved from the first loan to now by at least 25 points. I couldn't figure out why they would charge me a higher rate until I talked to the main guy at the bank and he told me that I now have too many credit cards so I am now more of a risk. I have 7 cards with $32800 available credit but keep my usage at 2% on 1 card. Does any of this make sense?

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 1 of 30
29 REPLIES
Moderator Emerita

Re: Banker says I have too many credit cards

Message 2 of 30
Established Contributor

Re: Banker says I have too many credit cards

take your business elsewhere. there's plenty of credit unions out there who will finance rec vehicles for much better rates. a "real" manual review of your credit for a vehicle would take note of your payment and balance histories and realize you're really not a higher risk.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Message 3 of 30
Frequent Contributor

Re: Banker says I have too many credit cards

My dti is 29%.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 4 of 30
Established Contributor

Re: Banker says I have too many credit cards

yea your banker is nuts. take your business elsewhere.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Message 5 of 30
Mega Contributor

Re: Banker says I have too many credit cards

To quote Tony Montana:

"You banker is taking you for a loooooong ride mang......."

Smiley Happy



EQ FICO 548 3/3/16
Message 6 of 30
Established Contributor

Re: Banker says I have too many credit cards

Some one is trying to score some solid points for comission right there...

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Message 7 of 30
Established Contributor

Re: Banker says I have too many credit cards

the opinion of your banker is made even worse by the fact that you have an established proven relationship with the bank.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Message 8 of 30
Frequent Contributor

Re: Banker says I have too many credit cards

Run dont walk.....
Message 9 of 30
Valued Contributor

Re: Banker says I have too many credit cards

It sounds to me like that "banker" is trying to take advantage of a loyal customer.  


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 10 of 30