Was told I’d be rejected for credit card application

[carolina22]

Recently tried to apply for a TD Visa Infinite credit card and was told I’d likely be rejected. Hoping to understand why because this has t ever happened to me before!

My current income is $130,000 (10+ years of employment w current employer).

$506,000 in mortgage and car loan debt (though they are both joint debts with my wife whose income is close to mine).

TransUnion credit score of 830 and 15 plus years of history.

I do have a large limits on my credit cards, but always pay statements in full and never get above 5-10% utilization. Also have a line of credit, but I’ve never used it. All together, my available credit card limits plus line of credit amount to approx $75K. Current balance from monthly transactions is around $3k.

Trying to figure out what I should do here. Is it because TD considers my joint debts as individual debts? So solution would be to wait and apply in a couple of years? Or is it because my available credit is very large? In that cause, I could close some newer credit cards and reduce some limits.

Thanks in advance for any insights!

Edit to respond to questions:

I applied in person at the branch and was told I’d likely be rejected by a TD advisor. They said my ratios were too high and also mentioned the available credit I already had, even though it wasn’t being used.

This was for a Visa Infinite Card, NOT an Infinite Privilege card.

Edit #2:

I dont bank with TD at all.

 

[kulama]

@carolina22 Told by whom? I don't see any issue with your numbers.

 

[carolina22]

@kulama I applied in person and was told this by a TD advisor.

 

[kulama]

@carolina22 Did you actually apply and got rejected? If not, there is not much harm in doing so.

 

[resjudicata]

@carolina22 If you apply online you'll likely get approved. Idk why banks are weird with credit cards. Ten years ago I was making 60k out of university and wanted to increase my credit limit from $1000 to $1500 with a new card and the branch said no chance. Went online and got the card I want with 10k limit

 

[babylonfive]

@resjudicata I needed 20k on one card recently cover a hotel, call them, they said no. I went in and they said I was pre approved for 25k with no credit check.

Banks these days are ran by near minimum wage workers so that's what we get

 

[gtr]

@babylonfive I’d bet it has more to do with computer algorithms than workers but thats just a guess.

 

[babylonfive]

@gtr I was pre approved, it was sitting in they're system. Employee a never looked

 

[nora021449]

@babylonfive Yeah I was told my wife and I wouldn’t qualify for a $50k line of credit with an income of $275k. Not sure why they say the things they do