carolina22
New member
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.
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.