<p>The 800 is a FICO score, not a Vantage score, correct?</p>
<p>If it is a FICO score, the reason for denial was not the credit score – it was likely something else, like the amount of existing available credit line in relation to your income being higher than they are comfortable with.</p>
<p>My FICO score is about a few points shy of the max possible. My S has a credit score about 30 points lower, but he got a CC, with a low credit limit boer gaps Japan banks are MUCH more conservative. </p>
<p>Our CCs tend to have fairly high limits, but its never been a problem filer me to get CCs before, even tho my income has long been unpredictable.</p>
<p>busdriver - we had a crazy local bank that made me scratch my head. They had a daily limit on the debit card charges of $1,000/day. It didn’t matter how much my average account balance was or my direct deposit paychecks. Their reasoning was no one ever needed to spend more than that. It was so frustrating that they were viewing it from their low wage job. I had to bring up that I couldn’t even buy airline tickets and book a hotel for a vacation. They thought it shouldn’t be a big deal to call them anytime I was going over the limit, like I needed to justify any larger expenditure. </p>
<p>I changed to USAA.</p>
<p>They look at the income to credit ratio. That has become important.</p>
<p>“Turned down for CCard with score >800!”</p>
<p>-Good for you! We have collection. Despite the fact that we do not carry the balance adn always pay full amount, H. said that we should not get rid of them because it may lower our CS. Why do we care so much, I do not know. We have no plans to apply to any loans. I do not remember when we did last time, it must be 10+ years ago.
It is not such a bad thing to be denied CC. I do not like my collection, it makes us more open to security issues, I believe.
On the other hand, I do not think that “$100K in in available debt is too much” at all. Are you aware of the student loans amount after one graduate from Med. School (just one example). Many of them are in $200+ range and possibly in $300+. We are talking about people who did not start working yet.</p>
<p>When we refinanced recently, our mortgage broke told us we should close out any credit we are not currently using. We have zero debt except a small mortgage but he said that even unused credit counts ‘against’ you regardless of your credit score.</p>
<p>I can sort of understand why. They probably add up all the credit available to you and then look at the worse case scenario…what if you went out tomorrow and used all $100,000, understanding that consumer credit is not the same as a 30 year mortgage (way more expensive to use.) Just guessing here but it doesn’t sound like you need it anyway.</p>
<p>Actually I DON’T need the card and was going to tell them to cancel the app when we were rejected. Their customer service is non-existent, and that’s a huge deal breaker for me. :(. No, we have no need for one more card.</p>
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<p>I think your HELOC is the culprit. Your available credit line is too high.</p>
<p>“I think your HELOC is the culprit. Your available credit line is too high.”</p>
<p>I’ve heard that before. As in, you have so much open credit, you could just max all of it out, etc, etc. But if someone has a 30 plus year history of not doing so, and always paying their bills, well…seems silly to me.</p>
<p>“we had a crazy local bank that made me scratch my head. They had a daily limit on the debit card charges of $1,000/day. It didn’t matter how much my average account balance was or my direct deposit paychecks. Their reasoning was no one ever needed to spend more than that. It was so frustrating that they were viewing it from their low wage job. I had to bring up that I couldn’t even buy airline tickets and book a hotel for a vacation. They thought it shouldn’t be a big deal to call them anytime I was going over the limit, like I needed to justify any larger expenditure.”</p>
<p>That is ridiculous. You’d have to call and ask permission before you bought that mattress set at Sears, or paid your insurance bill, or property taxes, or whatever it is you wanted? And get approved for it by some kid! Glad you dumped them, what a way to treat your customers.</p>
<p>We have a very long history of perfect credit. We also just got a CC about the same time, in H’s name with significant credit limit. </p>
<p>The culprit in my app was my honest low salary – they wouldn’t consider H’s, even though I included info about it and we have lived mainly off his income and now pension for decades. </p>
<p>The Japan bank is much more conservative than US banks. S, who has a credit score in the Hugh 700s got barely a 4 digit credit limit, which is much lower than all his other cards, but it doesn’t bother him.</p>
<p>From consumer finance.gov:</p>
<p>The Credit Card Accountability Responsibility and Disclosure Act (CARD Act) became law in 2009. The CARD Act requires that card issuers evaluate a consumer’s ability to pay before opening a new credit card account or increasing a credit limit. Under current CARD Act regulations, a card issuer generally may only consider the individual card applicant’s independent income or assets.</p>
<p>There was an amendment to this in April 2013, making it now possible for a non-working or low-income spouse to use marital income to apply for credit, and banks have 6 months to comply.</p>
<p>I think that is what happened to you, OP.</p>
<p>Ok. Thanks. I also think it is because the issuer is a Japan bank that may have more stringent regs. The credit limit on the card they issued S had a much lower limit than his others issued by US banks.</p>