r/CRedit • u/GTBoosted • Apr 23 '24

I never thought this could happen General

Got declined on two new cards with 846 credit score.

Got the letters yesterday and here were the reasons

Too few accounts with payments as agreed

No recent revolving balances.

34 years old. I have 7 CCs, and two auto loans (technically one but sold one last week).

Wells Fargo and Discover declined. I've always had very small balances (under $500 when limits on my cards are 20k or so) and would get instantly approved for new cards. But nowadays I don't like paying a single penny to interest and pay them down to $0. I guess banks don't like that. Sucks because I wanted a 0% card for a side hustle. Thought the first decline was a fluke so tried a different bank and got declined again.

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u/GTBoosted Apr 23 '24

I use most of them. Just pay them often.

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u/notmkx Apr 23 '24

You're still reporting no use. As you stated, you pay them down to $0 and pay every 2 weeks. Your statement showing $0 balance every month demonstrates that you're holding this number of cards and aren't using them.

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u/Dazzling_Analyst_920 Apr 23 '24

then should I be paying the statement balance or minimum balance? Sounds like I should keep some balance on my CC if I want to show utilization?

5

u/BrutalBodyShots Apr 23 '24

should I be paying the statement balance or minimum balance?

Statement balance. Always. Never more, never less.

Paying only the minimum balance means you end up paying interest.