May 31

Why did my credit card application get rejected?

Credit Card Applications 6 Comments »
Credit card application
I just applied for a 2nd credit card (a store credit card). On the website one of the requirements was that you were already approved for a major credit card.

The letter said rejected because:
-number of recent inquiries on credit bureau report
-excessive obligations in relation to credit limit
-limited credit experience

In Janurary I was approved for a student credit card(Visa through Bank of America). I’ve paid my bill in full each month, and my average use is $250/month of my credit limit, which is $700. So each month I have not even gotten close to my credit limit.

I just want to know what “excessive obligations in relation to credit limit” means. I understand the other reasons.

Thank you
ok, thank you everyone for all the side notes.

can someone please tell me what “excessive obligations in relation to credit limit” means

thanks

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Nov 14

I can’t take out a second credit card. How do I have good credit. Im just paying the min payment per month.

Compare Credit Cards 7 Comments »
credit cards compare
The reason they gave was this: Why we’re writing you
Thank you for applying for the Citi(R) Platinum Select(R)
MasterCard(R) account. Unfortunately, we are unable to approve
your request for the account at this time because of the
following:

o Your credit bureau report shows that your balances
on your open accounts are too high when compared to your
credit limits.
How do I fix this!!!

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