Credit question

[juliette]

I dont know if you guys can help it a none disney question but I am hoping you guys can This is my question we apllied for the disney card and was denied for utilization of bandcard what does this mean I just dont understand and its driving me CRAZY Please I would love your responses

 

[TWEEDLEDEE2]

I CAN NOT ANSWER YOUR QUESTION BUT, YOU MIGHT BE ABLE TO CALL YOUR BANK AND ASK A LOAN OFFICER WHAT IT MEANS. YOU REALLY SHOULDN'T EVEN HAVE TO TELL THEM WHO YOU ARE, JUST ASK WHAT IT MEANS. SORRY, HOPE YOU FIND OUT..

 

[phamton]

OK, I did a search on Google. From what I could gather utilization of bank card is this:

Either, you have other credit cards that you don't use and so they are afraid they'll issue one and you won't use it or you have several credit cards that are too close to the credit limit on those cards.

 

[Debi]

Hi there! In order to get more responses to your question, I'm moving this over to the Budget Board. Please check there for furhter responses. Thanks!

 

[Luv2Roam]

You might want to go to the News and Rumors Board too and read. There is a lengthy discussion regarding the Disney VISA and how Bank One is determining who to issue cards to.

 

[Gillian]

Apparently Bank One is pretty strict about who they issue cards to. It doesn't mean you have bad credit, just that they are picky.

If you have been denied credit, you should be able to order a copy of your credit report(s) for free. I'm not exactly sure how that works but you could try a google search.

You can look at the reports & your scores. Maybe you have a lot of open accounts that you don't use & could close? I remember when we first applied for a mortgage we had about 20 pages of credit cards that we'd opened at various places, never used & forgot about!

This page has info on getting copies of your credit reports.
http://www.ftc.gov/bcp/conline/pubs/credit/crdtdis.htm

 

[JoNo]

Actually, if you recieved the paper in the mail stating why they wouldn't give you the card, they should have a section stating who you can talk to about your credit report... I got denied once & the paper said I had 60 or 90 days to get in touch with the bank & get a free credit report through them... Hope this helps

 

[rrunnels]

I don't know if this will be helpful or not, but I was declined for the same reason. However, I bank with Bank One, and I already had one of their Visa cards. I asked if they could change it to a Disney Visa. They said they would, but I have not yet gotten it in the mail. I also used the letter to get a free copy of my credit report. I called the 800 number and got the URL of a website where (after I answered some questions to verify my identity), I was able to download and view my credit report.