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Denied ..Too many accounts?

Regular Contributor

Denied ..Too many accounts?

Has anyone ever been died for having to many accounts? I know you can get denied for having to many accounts with balances, but what about too many accounts overall?
Message 1 of 8
7 REPLIES
Senior Contributor

Re: Denied ..Too many accounts?

i haven't, but i have seen posts on here about people getting denied for too many accounts or for sufficient credit available.
Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Message 2 of 8
Regular Contributor

Re: Denied ..Too many accounts?


laz98 wrote:
i haven't, but i have seen posts on here about people getting denied for too many accounts or for sufficient credit available.

do you know how many accounts cards they had?

Message 3 of 8
New Member

Re: Denied ..Too many accounts?

my mother got denied once for having "sufficient credit available on other Barclays accounts"....she only has one card haha
Message 4 of 8
Epic Contributor

Re: Denied ..Too many accounts?


FICOupper wrote:
my mother got denied once for having "sufficient credit available on other Barclays accounts"....she only has one card haha
Barclays will say that if they won't extend anymore credit to you. My mom got this when asking for CLI on her 20k line

 

Message 5 of 8
Established Contributor

Re: Denied ..Too many accounts?

I was denied by Nationwide and the only reason was that I had to many accounts. At the time I had 9 CC's & 5 store cards.
Advice is what we ask for when we already know the answer but wish we didn't.
Message 6 of 8
Moderator Emeritus

Re: Denied ..Too many accounts?


l9ikjam wrote:
I was denied by Nationwide and the only reason was that I had to many accounts. At the time I had 9 CC's & 5 store cards.

 

Thanks - that's good to know!

 

For 800 FICO scores, you'll see experts recommending no more than 10 open accounts (FICO code #28 "Number of Established Accounts"); with no more than 6 bank/national cc accounts (FICO code #4 "Too many bank or national revolving accounts"). 

 

Nationwide is on my list - so thanks for the info on what they're looking for!

 

 

Just puttin' syrup on something, don't make it pancakes.
Message 7 of 8
Highlighted
Senior Contributor

Re: Denied ..Too many accounts?

I've never gotten hit by having too many accounts, but I have been slapped up for:

 

1.  Too many accounts reporting a balance;

2.  Not enough accounts reporting a balance;

3.  Not enough accounts (16); and / or

4.  Sufficient credit available considering balances.

IAALBNYL
Message 8 of 8