- Discussion board

Recently, I have been interested in moving my high rate old college card to a lower rate card, designed to just make payments against primarily. I 've been denied due to my credit. I obtained my credit report from equifax and had no deliquency or late payment ever, I do have about 1000 in outstanding school loans and 5000 in credit bills. Any insight on why I keep getting rejected with an annual income of 40K + ?

The credit card companies who have rejected you are required to provide a reason why you were rejected. They should also tell you what credit bureau they used to obtain your information, you are entitled to a free report from the bureau they used.

Have you tried making a deal with your existing credit card company? Sometimes they will lower the rate if they think there's a risk that you will move your balance elsewhere.

Also, there are two other credit bureaus that could have been used. The only way to know where you stand on your credit reports for sure is to examine all three.

You know, I have the same problem-20 years of credit history and never a late payment. I have tons of credit cards, but as long as I make payments on time, it seems I am a low risk. I have had problems getting a low introductory rate lately. I never had problems in the past. I did order a report, but could anything else be the problem?

Creditors will look at the amount of credit you have available, not just your balances. So, if you have a lot of credit cards, you may have too much available credit (even though you are not using it) in relationship to your income. This could be putting a cramp in new offers.

The_Insider