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Can I get approval for a credit acrd if I have outstanding credit card debt?

Submitted by Warrenbert on Sun, 12/10/2017 - 17:22
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Can I get approval for a credit acrd if I have outstanding credit card debt?


Lenders will check your income, credit score and credit report before approving your credit card application. Lenders may approve your application if you have outstanding credit card debt. But they will charge high interest on your credit card.


Submitted by ditchdebt on Sun, 12/10/2017 - 23:27

ditchdebt

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As long as it is not one of the Credit Card companies you defaulted on, they will have a minimum credit score, with bad credit you will get a high interest rate, but by paying them on time that will improve your credit score, so you can get a better rate in the future, in the mean time try to pay off debt if possible starting with the lowest, and watch debt.


Submitted by on Mon, 12/11/2017 - 15:49

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How much debt do you have?
You can use this as a balance transfer option!

And you can apply and even qualify for credit cards with existing credit card debt. But if the debt amount is too high, you might get rejected! Also don't expect to get a good credit limit, if your debts are huge and you have a bad credit report!


Submitted by Phil Bradford on Thu, 12/14/2017 - 07:04

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Yes, credit card companies will surely check your income and credit history before approving your credit card application. So, you can surely apply and qualify for a new credit card with existing credit card debt. But if your existing debt amount is too high, lenders may reject your application.


Submitted by Barbara Delinsky on Mon, 12/18/2017 - 03:46

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I would suggest not to take out another credit card if you already have outstanding debt. However, if it's a card for balance transfer, research and check out whether or not you're getting a lower rate of interest.


Submitted by Good Nelly on Thu, 12/21/2017 - 04:23

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