AOD Visa Signature Denial

Anonymous · ‎04-30-2020

Read the fourms about the AOD Visa and I had to jump on that train as well. Something to replace my Citi Double Cash. Sadly, got declined.

"High Debt to Equity Ratio" was the reason. Anyone have any advice on this?

It stung bad, especially since the decline wasn't due to my credit score.

Anonymous · ‎04-30-2020

They use DTI as one of the heaviest factors for approval.

I think for some people with heavy loan and revolver balances, they've been denied. AOD has to see if you're capable of paying the full limit they give you off with the DTI they calculate.

Anonymous · ‎04-30-2020

Thanks for the clarification! Any other alternatives? That isn't the propel card. I think for now that card is the only one of it's kind in the market.

I believe that is thanks to my student loans.

blindambition · ‎04-30-2020

I'm very sorry. AOD has a very restrictive DTI formula. I'm sure student loans were a factor. Going by DP of other apps.

Anonymous · ‎04-30-2020

@blindambition wrote:
I'm very sorry. AOD has a very restrictive DTI formula. I'm sure student loans were a factor. Going by DP of other apps.

Yeah, it sad to see. At that point what can you do. Trying to find an alternative at this point or something that compliments the double cash.

coldfusion · ‎04-30-2020

@Anonymous wrote:
@blindambition wrote:
I'm very sorry. AOD has a very restrictive DTI formula. I'm sure student loans were a factor. Going by DP of other apps.
Yeah, it sad to see. At that point what can you do. Trying to find an alternative at this point or something that compliments the double cash.

Since you have comparatively high DTI it's probably prudent to avoid cards issued by credit unions in general.

2 options to look into would be the Discover IT as it doubles the cashback total over the 1st year or the Paypal Cashback Mastercard which is a straight 2% cashback card.

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Anonymous · ‎04-30-2020

@coldfusion wrote:
@Anonymous wrote:
@blindambition wrote:
I'm very sorry. AOD has a very restrictive DTI formula. I'm sure student loans were a factor. Going by DP of other apps.
Yeah, it sad to see. At that point what can you do. Trying to find an alternative at this point or something that compliments the double cash.
Since you have comparatively high DTI it's probably prudent to avoid cards issued by credit unions in general.

2 options to look into would be the Discover IT as it doubles the cashback total over the 1st year or the Paypal Cashback Mastercard which is a straight 2% cashback card.

I do own a 2% equivalent. The DC is what I use currently, but I looked into the PPMC and I couldn't decide the between the two. Then you have the Fidelity version and then credit unions have their own too. So many options I just slap on DC called it a day.

I avoided rotating categories because I am forgetful and might not maximize each category. That's why I tried the Propel Card too no avail sadly. Trying to find a good compliment to my 2% and if i should stick with the DC.

Wanted to shoot my shot at the AOD because it was the FOTM. You live and you learn. Took that inquiry though

M_Smart007 · ‎04-30-2020

@Anonymous wrote:
Read the fourms about the AOD Visa and I had to jump on that train as well. Something to replace my Citi Double Cash. Sadly, got declined.

"High Debt to Equity Ratio" was the reason. Anyone have any advice on this?

It stung bad, especially since the decline wasn't due to my credit score.

Sorry for your denial

Anonymous · ‎04-30-2020

@M_Smart007 wrote:
@Anonymous wrote:
Read the fourms about the AOD Visa and I had to jump on that train as well. Something to replace my Citi Double Cash. Sadly, got declined.

"High Debt to Equity Ratio" was the reason. Anyone have any advice on this?

It stung bad, especially since the decline wasn't due to my credit score.
Sorry for your denial

Thank you! Had to join the bandwagon, I mean a 3% card was too enticing to pass up. Have to find alternatives now.

Anonymous · ‎04-30-2020

Sorry about your denial, OP. I do highly recommend the Discover IT card. I got a healthy starting limit with them considering I'm only just beginning my rebuilding. I thought I would have trouble remembering the revolving categories, but they make it really easy by providing the calendar up front. I can plan which card is going to be my daily driver having the calendar up front. Because I mainly use 2 cards it's easier for me to maximize my cashback return.

Best of luck if you choose to apply for something else.