Got Declined but don't understand.....

[Anonymous]

I have a credit score average of 675. I applied for 2 cc's over the weekend to take advantage of their zero balance transfer. I got denied. It said my debt/obligations were too high.

In the past, I got approved without any trouble. I also know that in the past 6 months I bought a house ($2600 mortg. payment) but did not build up other debt since we bought the house.

What I don't understand is that I put in my income and my husband's who got a big salary raise to show that we can pay but it said my obligations were too high. I don't understand.

[llecs]

Could it be referring to your utilization?

[Anonymous]

Not sure. There was no mention of that other than something like total obligations are too high. However, if this was the case, how was I able to get a home loan and not be considered too high then?

[oracles]

If your util was high to begin with, I believe adding this mortgage to your report may have put it into the your obligation are too high category.

The only thing I can see you doing to rectify the situation is to pay down your credit card debt as quickly as possible so it shows that although you have a high mortgage, your credit cards are low in payment and you can handle addition credit.

Ho much is your util% for your revolving accounts (credit cards)?

[Anonymous]

I agree with oracles assessment 100%.