What are the top five reasons people get turned down?

[Anonymous]

My problem is that I have too many credit cards. I have 30 in all. gas Most are likes of Milestone, First Acess,etc. I have some department store and gas cards. I keep these for the age. I get turned down because too many credit cards and inquiries. Please help. Thank you.

[Anonymous]

There are times when I apply for avg. credit card. I was turned down because I don't have a mortgage. I own a house. Just don't have a mortgage. How can I tell the credit bueaus this? I have a personal installment loan.

[Anonymous]

I also do not have a mtg and never found it to be an issue, i do put down what it cost for my property taxes and HOI. (total annual cost / month) as my housing expense though...

[SFLSpotter9210]

I have the same issue with synchrony bank. I sent them a copy of my property appraiser document and it still didn't matter. That's the only bank I've had an issue with. I have a past vehicle finance on my bureau too. I don't owe anything on my cars  or house. Their loss is how I look at it. 

[Remedios]

---

@Anonymous wrote:

My problem is that I have too many credit cards. I have 30 in all. gas Most are likes of Milestone, First Acess,etc. I have some department store and gas cards. I keep these for the age. I get turned down because too many credit cards and inquiries. Please help. Thank you.

---

Well, you just listed the top two. There really isn't "top five" because you only need one to get denied.

To answer your question, most common reasons tend to be 

New Accounts (Credit seeking)

Unsatisfactory previous relationship

Number of inquiries (common but usually not primary reason). 

Income (though, this one tends to be vailed on AA letters)

Balances too high (utilization)

If you're getting denials for number of new cards, applying for more is counterproductive, and will only lead to more denials. 

Luckily, this denial reason goes away on it's own after you spend decent chuckle of time application free. 

Usually a year will work like a charm. 

[blindambition]

They also sometimes give a blanket reason for denial. They are required to give reasons!

Hows utilization? How many cards reporting balance? How's DTI? Look at all the possible negatives of your profile.

[Remedios]

@Anonymous  I've merged your threads (again) dealing with same issue.

You've listed partial reasons in one thread, and partial reasons in another thread.

If you want our members to be able to help you, they need as much information as possible in one place. 

Please avoid cross posting as it creates a lot of confusion, redundant questions, and redundant answers.

Thank you 

[KLEXH25]

---

@Anonymous wrote:

My problem is that I have too many credit cards. I have 30 in all. gas Most are likes of Milestone, First Acess,etc. I have some department store and gas cards. I keep these for the age. I get turned down because too many credit cards and inquiries. Please help. Thank you.

---

How many cards have you gotten in the last 6 months? 12 months? 24 months? If you have 30 cards, why do you need more? I imagine lenders are asking themselves the same thing. Take some time to garden (1-2 years) and consider trimming your collection. Cards will remain on your reports for up to 10 years, so it won't really hurt once they do fall off, especially if you're continually adding cards. 

[M_Smart007]

---

@Anonymous wrote:

My problem is that I have too many credit cards. I have 30 in all. gas Most are likes of Milestone, First Acess,etc. I have some department store and gas cards. I keep these for the age. I get turned down because too many credit cards and inquiries. Please help. Thank you.

---

It is going to be more Inquiry related than too many cards ..unless it specifically states "Too many recent open cards"

Trust Me on this!

[blindambition]

After seeing more in this merged thread... The 30 cards should be considered. You say you want to keep your store cards and gas cards. If not using, is that hurting your profile more than helping.

Id let inquiries age and consider closing some cards. JMHO!