06-22-2012 06:41 PM
06-22-2012 08:17 PM
The credit card companies will or have sent you letter stating why our were denied. Once you have that and do not mind postrin the reason(s) it might help in suggesting possible solutions.
06-23-2012 04:19 PM
Sorry if I go a little bit Sherlock Holmes on you.
First of all there are usual suspects.
may have reappeared. That happens a lot in this industry
and I'm sure you know why.
Age of credit. Your credit lines'
sizes suggest you're rather new to credit card companies.
Your persistent reapplications is not a good sign for them,
although effect on your FICO score is rather small.
But let's look a little deeper. Your utilization rate is 25%,
which is excellent, by the way. Judging by your history
with credit companies you're looking at getting another
$1000 credit line. You're projected to use $250 dollars of it.
You already have this amount available to you.
So unless you want to burn the entire $1000, thus changing
your consumer behavior, what is the point of this
new credit card. Of course they can make some money on you,
but unexplained need for credit (not quite reflected in
CRA scores) could be a red flag. Finally, if I'm right,
and that's what they're thinking, maybe you do not need this
extra $250. That way both sides will come to the same conclusion
and postpone doing business together until a better time.
06-24-2012 05:07 AM
One of the quickest approaches to get to higher cli's and approval are the Three P's. Pay in Full, Pay on time, and Patience. Credit is like a job. It takes time to get paid vacation and salary step increases. Likewise credit.
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