Creditors are rejecting me even after 9 years of filing bankruptcy
Date: Tue, 04/17/2018 - 21:17
Creditors are rejecting me even after 9 years of filing bankruptcy
I have been applying for credit cards since the last 1 year. But all the credit card companies are rejecting me. Friends are saying credit cards are thinking I will file bankruptcy soon. Have anyone experienced something like this?
This is probably happening
This is probably happening because of your high utilization ratio. Reduce your overall utilization ratio. I think this may help you qualify for a credit card.
Reduce spending and try to
Reduce spending and try to make the monthly payments on time. Don't miss a single payment.
Your high credit utilization
Your high credit utilization ratio is creating the issue. You need to pay down your debts first to lower your credit utilization rate. After paying off the cards, don't close the accounts; keep them open. You can also ask for a credit limit increase.
Try to show that you can
Try to show that you can handle debts efficiently. If required, try for a secured credit card or a department store card and manage it well. It will help you have positive things on your credit report.
Take out a secured credit
Take out a secured credit card, and build a good credit history of a year or so... and you will be good to go!