bank refused line of credit

[Zephyr]

I have a mortgage, credit cards and car loan - just like everybody else. I went the other day to apply for line of credit and my bank refused to give me one. I also applied for credit card but no luck there too. What should I do? Which bank to go to? Any ideas? Thanks

BTW I bank with TD Bank

[trent]

Why do you need another credit card? Aren't you enough in debt already? It's ignorant to assume that everybody around you is like you, and carry the same levels of debt. Some of us don't believe me.

[heyjude]

You should wait ... My boyfriend has perfect credit (we also rent), so no mortgage burden and he got the other day an offer in the mail for credit card. He was pre approved. So what does this tell you? If you are too much in debt in this economic situation nobody will give you line of credit or credit card...

We don't need another credit card.

[Steven]

Originally Posted by heyjude

You should wait ... My boyfriend has perfect credit (we also rent), so no mortgage burden and he got the other day an offer in the mail for credit card. He was pre approved. So what does this tell you? If you are too much in debt in this economic situation nobody will give you line of credit or credit card...

We don't need another credit card.

That's the irony, isn't it? The people already deep in debt, who need additional credit lines or credit cards, won't qualify for one and the people who have been disciplined and don't have much debt qualify for more credit, but they don't need it.

[dreamy]

Originally Posted by Steven

That's the irony, isn't it? The people already deep in debt, who need additional credit lines or credit cards, won't qualify for one and the people who have been disciplined and don't have much debt qualify for more credit, but they don't need it.

It is ironic. They push you offers that you can't resist and then punish you with high interest rates.
If you pay your bills on time and spend wisely you will never have any debt troubles (if you have a job).