In addition to allowing the TL history to age, you're also allowing the HP's to age out of value
I wouldn't care about being declined for a secured card as they are pretty worthless. I was declined for a secured card from Discover in January and now I am getting approved for all the prime cards without ever having a fully secured card. Think of it as them doing you a favor.
After reading this. Ill be suprised if my app gets approved..... Link to my thread:
Does this process sound familiar?
I got this same denial a year and a half ago from Citi. I had some unpaid COs at the time. Were they referring to them???
Can someone please explain this exactly to me. $56k income not enough??
So I applied for a Citi Secured Card about 3 weeks ago. Currently rebuilding my credit but have a few cards. Discover It $700, Cap1 $500, Quicksilver $500, BOA secured $500. My TU Fico is around 600 with a FAKO at 644.
Reason for denial:Your total credit obligations, which include outstanding credit lines, are too high to meet our approval guidelines, when compared to your stated income.
Credit %util is at 4% across all lines. Auto loan with payment of $192, rent at $995. My stated income is $56700. It's actually a little higher but I always go low on applications in case of a financial review.
I called and explained my income is higher than the median. My %util is great, my car payment is $250 under national average and my rent is median. What exactly are they looking for to approve me for a $200 Secured line of credit???
Do you by chance have any unpaid charge offs or collections?