1. Home
  2. Ask an Expert: I Have Great Credit. Why Did a Credit Card Reject Me?
  • Sign up
  • Sign in
Money Talks News
  • Popular
  • Latest
    • Coronavirus
    • Ask Stacy
    • Make
    • Save
    • Borrow
    • Grow
    • Live
    • More
  • Deals
    • Automotive
    • Clothing & Accessories
    • Computers
    • Electronics
    • Everything Else
    • Financial Services
    • Gaming & Toys
    • Health & Beauty
    • Home & Garden
    • Movies, Music & Books
    • Office & Supplies
    • Special Occasion
    • Sports & Fitness
    • Store Events
    • Travel & Entertainment
  • Podcasts
  • Solutions
  • Academy
  • Subscribe to our newsletter
  • Follow us on Facebook
  • Follow us on Twitter
  • Search our site
Seniors holding hands in pool4 Simple Steps for a More Comfortable Retirement
10 Amazing Ways to Build Wealth at Any Age10 Amazing Ways to Build Wealth at Any Age
Happy older investor5 Things You Must Do When Your Savings Reach $100,000
Older woman with doctor looking at phone14 Things That Are Free With Medicare

Ask an Expert: I Have Great Credit. Why Did a Credit Card Reject Me?

This reader has a high credit score, but a recent card application was rejected. What's going on here?

Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend.

Jason Steele • December 6, 2012

Share on Facebook Share on Twitter Share by Email Share on Pinterest Printable version available to members PDF version available to members
Image Not Available

A Money Talks News reader recently wrote with this question:

I love your column. It’s such a great resource, especially for someone like me who uses credit cards for rewards benefits, carries zero balances, and pays in full every month.

A very disturbing thing happened to me this week. I take care of all the finances for the family. Since we’ve been married, I’ve gotten all of our cards down to a zero balance with the exception of one, which I have at zero percent interest until next April, at which point it will be paid off.

We both received pre-approved offers from Barclays World Card in the mail. My wife’s offer was 10,000 points for signing up, and then another 10,000 points after spending $750 within the first 90 days. She applied and got approved instantly for a $10,000 credit line.

I also received an offer. It was 5,000 points for signing up. That’s it. When I called them, they said, “well you can use your wife’s pre-approval number to try and get the other offer.” I did just that, and was denied! My credit score is 771 currently for all credit bureaus. This truly bothers me. I have probably 30 credit cards, all at zero balance, with the exception of one, which I use for everyday purchases and pay off in full each month.

Why would my wife, who also has a large number of credit cards open like me, with a lower credit score, get approved for better offers than I would? And this isn’t the first time this has happened.

Any insight as to why my wife got the better deal and I didn’t? I didn’t apply for the 5,000 point deal, because I’m still waiting on the 10,000 deal. I’m waiting until I get the letter in the mail, will take your advice, call them up and talk to someone about it.

This type of thing really bothers me, because I always take my finances seriously, and am responsible with my money.

Thanks very much, Jason!
-Bob

My response

First, I love the fact that Bob is always paying his balances in full and on time (at least the ones that are incurring interest). But while there are many laws that the credit card industry must abide by, none of them say their actions have to make sense.

In this case, Bob got one offer, but his wife got another. Worse, his offer wasn’t as good as hers. And although there is no way to be perfectly sure what the bank was thinking when they rejected him, I have an idea: Holding 30 credit cards might make Barclays uncomfortable. They’re probably legitimately concerned about the possibility Bob could use all that credit and be unable to repay it.

Of course, that’s not what he’s up to – Bob’s opening new lines of credit to get sign-up bonuses. Nothing wrong with that, as long as he always pays his balances in full and on time. But you can’t blame Barclays for being a bit concerned.

Bob should keep the best cards for the long term while canceling the others after one year. By holding 5-10 cards, he’ll keep his credit utilization low while not showing too many open lines of credit. That will make him more likely to be accepted for new cards and receive the best sign-up bonuses.

As Bob cancels unused cards, he should do it over a period of several months, rather than all at once, to minimize the impact on his credit score.

Finally, don’t worry about a measly 5,000-10,000 bonus points when there are plenty of great products like the Ink Bold from Chase that offer 50,000 points as a sign-up bonus.

Good luck, Bob, and keep reading!

Note: While we attempt to be completely objective when reporting on credit cards, this site may be compensated by issuers when a reader applies for a credit card through the links within credit card stories or on our credit card search page.

  Like Article   Add a Comment

Sign up for our free newsletter!

Simple ways to make, save, and grow your money daily:

  happy subscribers    
MTN Podcasts

Every week our podcasts bring you lively money discussions that will give you a few laughs along with advice that will make you richer.

Money with Stacy Johnson

Listen/Subscribe

Read Next

Some of our favorite stories for you to read next.

Senior couple at home
7 Times You Should Not Pay Off a Mortgage Before Retiring
Man looking at credit score
What’s the Difference Between FICO and VantageScore?
Car rental assistant with customer
7 Surprising Things That Damage Your Credit Score
Sign up for our free newsletter!

Join our many free newsletter subscribers building wealth and destroying debt:

Popular Topics
  • Retirement Investment
  • Surveys for Money
  • How to Make Money Online
  • Emergency Stockpile
  • Free Movie Streaming
  • Senior Discounts
Connect
  • Support & FAQs
  • Memberships
  • About
  • Contact
  • Careers
  • Accessibility Statement
Media
  • Advertise
  • Television
  • Where We Air
  • Scripts
  • Sitemap
Legal
  • Terms
  • Privacy
  • Cookies
Editorial
  • Fact-Checking Policy
  • Ethics Policy
  • Corrections Policy
  • Ownership & Funding Info

Do Not Sell My Personal Information

© 2023 Money Talks News. All Rights Reserved.
‭1 (833) 669-8557 | 1732 1st Ave #26661, New York, NY 10128

Advertising Disclosure: This site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.

View This Page Without Ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Help us produce more money-saving articles and videos by subscribing to a membership.

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Sign up for our free newsletter!

Join our happy subscribers and sign up for our free newsletter! You'll get:

  • Tips and advice from our expert money reporters. (Our average experience is 18 years!)
  • Unexpected ways to make more and spend less, delivered to you daily.
  • The best deals and coupons to save on everything you buy.
  • Free copies of our eBooks '208 Ways to Save Money Every Day' and '108 Easy Ways to Earn Extra Cash', together a $29 value!