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Posted in Student Loans
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laurenmp2

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student loan over limit?
Hi, i recently applied for a credit card and was given the "application in review receive response in mail" but i decided to call and speak directly to a rep. They told me the only reason i was denied was because i have 2 student loans (I dont know why they are seperated) and that they are both at the limit or close. Im just curious as to how that even affects a credit card application when my student loans are deferred since im still in school at the moment, or more importantly why there is a limit that reflects on my score. On my current cc i have never missed a payment and the utilization is always very good. I would think that would have more of an effect on the application instead of my student loans that i do not even have to start paying yet. Any help would be appreciated im just pretty confused about everything.

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One thing credit card issuers look for is a balance between what you take in right now and what you are going to have to repay.  Those student loans will not go away.  There is no statute of limitations on them and they cannot be discharged in bankruptcy.  That you already have a credit card and make the payments is insignificant.  The card issuer who denied your request knows only how much you are making and how much you're going to have to repay on those loans, and they don't want to get stuck.  You might not have sufficient income in their mind to make the student loans and the current card you have AND their credit card.  Sorry, but that's the way things sometimes happen.

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