You may find that your application for a credit card or other financial loan is rejected in spite of having good to excellent credit. While the rejection may feel personal, it isn’t, nor is it final. It’s important to investigate the reason for the rejection and then work towards a solution. There are a number of reasons for why you might be denied, which is why 360 Credit Consulting exists. We want to help you identify the trouble spot and then create a plan that works for you and helps you to achieve the credit score you want.

Debt Utilization Ratio

You can figure out this ratio by taking the total amount of your monthly outstanding credit card debt and dividing it by your total credit limit. You want the answer to be as low as possible. If your debt utilization ratio is 50 percent or higher, then you will likely have notations, or red flags, put into your credit report. A higher number is frequently an indicator that a person is close to “maxing out” their credit cards.


It is not comfortable to share your income with anyone, but if you are trying to identify the reason for a denial to a credit card application, then this might hold the answer. Not only do banks look at the likelihood of you repaying your debt, but they also look at your ability to repay a debt. These two items are determined by your credit score and your income. While your income is not something you necessarily have control over, you could try to apply for a credit card with a smaller credit limit.

Credit History

Your credit history is one area in life where your youth works against you because you haven’t had time to build a credit history. The good news is that the longer you make timely payments on loans or credit cards, the better your credit rating becomes and the more that banks will see you as trustworthy. Keep in mind that your credit age is also determined by the average age of all of your credit accounts. Each time you open a new account, it lowers the average age of all of your credit lines.

The good news is that being denied for a credit card or other loan is not always due to bad things. Sometimes it’s due to your age or a lower-paying job, neither of which will always be the same. If you are interested in learning exactly why you were denied on an application, then contact 360 Credit Consulting today and let our financial experts provide the answers and assistance that you need.