Application Reconsideration

Jasmine..in your letters to Citibank and Chase you state that you want
to transfer some high interest account to their cards so you do have
more debt than just your mortgage. You also state in your letter to
CIT Group that you acknowledge heavy utilization during the holiday
season.

You also stated in some of your other letters (HSBC, Discover) that
their is fraudelent information on your Trans Union report. Has this
all been cleared up?

There must be some reason that 6 banks have turned you down for a
card. Banks are getting very tight in their lending criteria and they
are cancelling cards left and right. Even if you don't have that much
revolving debt on your current cards, banks look at how much credit is
available on those cards and base part of their decision on that. Say
you have 3 cards with $10,000 limits but only owe $1,000 on each, you
still have $27,000 of available credit that you can go out and use
tomorrow. Another bank might be reluctant to give you more available
credit based on that.

revolving debt is not related to your mortgage. This usually means
credit cards, such as visa, mastercard, store cards, etc.

In these economic times, they may be reluctant to offer credit than in
the past. You may want to try a new credit card company.

Do you have any other debt they could be counting? Other credit
cards?

If you pay $4356 a year for your mortgage, that alone does not seem
too high to deny you.

When they denied you, did they provide a telephone number or address
to contact an application specialist? I have used that approach a few
times and it worked well. Sometimes an assumption has been made that
was incorrect.

On a humorous note, I had a credit specialist ask once if I had made a
mistake stating my income (I don't work). I assured her it was
correct, and I got the card. Good luck. There is nothing like using
the bank's money (responsibly of course) and getting cash rewards at
the end of the month. If you get the card just be sure to pay it off
EVERY month.