topic Re: What Does this Mean? in Credit Cards

What Does this Mean?

toi34 — Thu, 07 Aug 2014 21:57:41 GMT

I received a denial letter today and the reason given is "ratio of payment to outstanding balance is too low?"

Re: What Does this Mean?

Closingracer99 — Thu, 07 Aug 2014 22:00:19 GMT

@toi34 wrote:
I received a denial letter today and the reason given is "ratio of payment to outstanding balance is too low?"

Lower your Balances basically

Re: What Does this Mean?

RCFL — Thu, 07 Aug 2014 22:16:24 GMT

Have you been only making minimum payment?

Re: What Does this Mean?

-Wade- — Thu, 07 Aug 2014 22:18:31 GMT

@toi34 wrote:
I received a denial letter today and the reason given is "ratio of payment to outstanding balance is too low?"

You need to pay your balance's down.

Re: What Does this Mean?

Turbobuick — Thu, 07 Aug 2014 22:26:06 GMT

I would read that to mean your payments are too small based on your current debt.

Re: What Does this Mean?

-Wade- — Thu, 07 Aug 2014 22:45:51 GMT

@Turbobuick wrote:
I would read that to mean your payments are too small based on your current debt.

on some of my cards, it does not show the amount i pay each month just the bal

Re: What Does this Mean?

Turbobuick — Fri, 08 Aug 2014 00:10:35 GMT

@-Wade- wrote:
@Turbobuick wrote:
I would read that to mean your payments are too small based on your current debt.
on some of my cards, it does not show the amount i pay each month just the bal

"ratio of payment to outstanding balance is too low?"

According to the above, the issue(ratio) is payment size vs the balance size.

Re: What Does this Mean?

GoodCredBen — Fri, 08 Aug 2014 14:09:06 GMT

I got the same thing a while back - since then, been paying down