Credit Card Applications Denied

Columbia_Student
Sat, 09 Jan 2010 00:05:45 +0000

Columbia_Student, you may be right about the balloon, but my loan balance to equity ratio on my house is something like .40 now even with lower housing prices. So there is tons of equity in my house, that doesn’t seem like it should be a factor.

Yeah, it does not sound right but we are post credit bubble so things are not the same as before. I just recently opened a new credit card and I thought business as usual, ie if I pay the balance by the end of the grace period I pay no interest. But that was not the case, I was charged interest from day one. Luckily I only put less than $50 purchase to get the credit card activate.