Denied For Having too much available Credit?

[Anonymous]

Has anyone ever been denied for having too much available credit?

[CreditCuriosity]

Yes alot of people including myself.  Depends on the lender and their UW and how conservative they are.  Happens more than you would imagine.  Some banks/cu see that as being a risk as you can charge up alot or they think you won't use them aka make them money either.  All depends on lender.  Some care and some don't.  Just gotta do you research.  The market changes as well and one day a very conserative lender will loosen up or just the opposite.

[simplynoir]

In short, yes. Typically you see that with credit unions who do not want to extend credit to those that will not use it as intended. First Tech CU is one that comes to mind for instance. There have been reports of them wanting people to close a card or two before they even consider approving a credit card.

[AverageJoesCredit]

Yes and not enough $

[SouthJamaica]

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@Anonymous wrote:
Has anyone ever been denied for having too much available credit?

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I have been turned down a bunch of times by credit unions for that very reason.

Never by banks, just by credit unions.

[tcbofade]

That has happened to me exactly once.  

As suggested above, it was a smallish local CU.

[M_Smart007]

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@Anonymous wrote:
Has anyone ever been denied for having too much available credit?

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Yes, I just got Denied for that reason   ..FedPen

Visa - Power Cash Rewards

4007XXXX

DECLINED 08/22/2019  Number of accounts.

Although I thought my overall accounts were small compared to most myFICO'ers

maybe i should start thinking about thinning the herd, where is Pinkandgrey?

 Edited: for "speeling error"

[Anonymous]

@M_Smart ... remember as you leave us for Italy (hope) @RicHowe "Don't Leave Home without it" ... Where is R Howe when you need him?

[M_Smart007]

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@simplynoir wrote:

In short, yes. Typically you see that with credit unions who do not want to extend credit to those that will not use it as intended. First Tech CU is one that comes to mind for instance. There have been reports of them wanting people to close a card or two before they even consider approving a credit card.

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+1

They'd probably want me to close 30 at least, just a guess

I did not bother to recon. My thinking;

UW:  "Why do you need some many CC's"

ME: "Because I am a MF'er and a Hoarder"

UW:  "What did you just call Me?"

ME: "I am a myFICO'er and a a card herder"

UW: "And I thought I Heard it all"

ME: "No!, That is my job, To Herd it ALL"

UW: "Have a Nice Day - Hang's up"

[M_Smart007]

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@tcbofade wrote:

That has happened to me exactly once.  

As suggested above, it was a smallish local CU.

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Definitely a 1st for Me