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Member
Posts: 16
Registered: ‎10-14-2012
0

Re: denied cc

The it card is what they sent. I'm going to try to see if I can get citi to approve me if not I will try the discover it card if they deny me I think it will be time to wait a little haha. will keep you guys updated and thank you for the help.
Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: denied cc

It would be in your best interest if you wait and apply after your cr are updated

Good luck
Valued Contributor
Posts: 1,603
Registered: ‎09-15-2012
0

Re: denied cc

Your mom's maxed out card is hurting your credit. You likely need that paid way down (like under 10%) and updated to the credit bureaus before you will be able to get approved for ANYTHING. On the specific card you applied for, I'm not aware of underwriting criteria but you may not have a good enough profile to get approved right now regardless of balances. There is a lot more to every approval decision than just credit score.

How old are you? What is your income? What good things are on your reports - and when were they opened? Anything bad on there?

We can try to help a little more

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Member
Posts: 16
Registered: ‎10-14-2012
0

Re: denied cc

I am 23. Income is 48,000. My longest acct is the cc with my mom of 4 years 10 months. My cc is 1 year. I have a truck loan at 18000 and a student loan for 8000. I have no delinquencies on my credit report or negativeindecators on any Accra on my credit report.
Valued Contributor
Posts: 1,603
Registered: ‎09-15-2012
0

Re: denied cc

Thanks for getting back to me. Based on what you posted, you have a pretty good credit file! It should open a lot of doors for you over the next several years.

Get those balances paid down, wait for the credit bureaus to update the balances, and then move onto your next goal. Good luck!

In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Citi Thank You Premier (6/15) $6,800

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Member
Posts: 16
Registered: ‎10-14-2012
0

Re: denied cc

I'm still waiting on why citi denied me but if I can't get that card I have a pre approved discover it card that I just got in the mail yesterday they send me several things a month would it be a good idea to try that one? I am also paying extra on my student loans to get them paid down a little faster the truck I'm going to ay extra from a side projectand hoping in about 2 years and that will be paid off. Thanks for all the great advice
Contributor
Posts: 208
Registered: ‎03-20-2013
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Re: denied cc

[ Edited ]

jmeaby wrote:
I'm still waiting on why citi denied me but if I can't get that card I have a pre approved discover it card that I just got in the mail yesterday they send me several things a month would it be a good idea to try that one? I am also paying extra on my student loans to get them paid down a little faster the truck I'm going to ay extra from a side projectand hoping in about 2 years and that will be paid off. Thanks for all the great advice

 

Is your mom planning on paying down the balance on her card?

 

If not, it may be time for you to be taken off as an AU.

 

Your high utilization is making you look like a credit risk to lenders.



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Regular Contributor
Posts: 327
Registered: ‎05-28-2013
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Re: denied cc


ElCamino wrote:

jmeaby wrote:
I'm still waiting on why citi denied me but if I can't get that card I have a pre approved discover it card that I just got in the mail yesterday they send me several things a month would it be a good idea to try that one? I am also paying extra on my student loans to get them paid down a little faster the truck I'm going to ay extra from a side projectand hoping in about 2 years and that will be paid off. Thanks for all the great advice

 

Is your mom planning on paying down the balance on her card?

 

If not, it may be time for you to be taken off as an AU.

 

Your high utilization is making you look like a credit risk to lenders.


+1

 

You look like a high credit risk with student loans, car payment, high CC balance. That's most likely the denial.

Member
Posts: 16
Registered: ‎10-14-2012
0

Re: denied cc

She but she is refinancing her house first then paying it down when its paid down is when I will get off of the account. Someone told me if I get off now it will look bad on my credit report if I get off while it has a high balance.
Frequent Contributor
Posts: 324
Registered: ‎04-12-2013
0

Re: denied cc

For your mom credit also maxed out credit card would result in lower fico score. You need to tell her to atleast get the util below 70% to get better rates and below 10% for best rates.



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