i applyed for a best buy credit card and was declined because most of my credit cards are very close to being maxed out. i have good credit and have never been declined. i was wonder after lowering my credit card debts how long should i wait till i try to apply again?
2007-11-29 08:48:38 · 3 answers · asked by celicell 1 in Business & Finance ➔ Credit
Your defination of good credit is obviously different from the lender. You may be thinking if you are not delinquent, your credit is good.
Having all maxed out cards is not good, and you are trying to borrow more? Inquires will also hurt your score, ie a maxed out borrower keeps trying to borrow more.
Do not inquire for any credit for at least 6 months and until each of your cards is down 50% from today's balances.
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2007-11-29 15:59:53 · answer #1 · answered by Gatsby216 7 · 0⤊ 0⤋
At least a month in order for your new balances to be reported. But Best Buy, actually the Bank who issues the card, may have their own rules about reapplying. I would recommend to call the bank and ask the reason you were declined and when you can reapply. Best Buy will supply you with phone number to call.
2007-11-29 09:10:12 · answer #2 · answered by roginad 3 · 0⤊ 0⤋
i used to work at best buy...... they use HSBC for they're credit cards, i'm guessing you did call the number if you know the reason it was declined, it was really funny when i worked there, people that you would think would get approved and get a huge limit would get declined, and people who claimed they didn't have a chance in hell in getting approved would end up getting large card limits, it was kind of a fun game to guess inside my head who's gonna get approved and for how much!
2007-11-29 10:19:08 · answer #3 · answered by evensonhimself 2 · 0⤊ 0⤋