3 Reasons Your Credit Card Application Was Denied With an 800-Plus Credit Score

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Being in the 800 credit score club doesn’t mean automatic approval for every credit card. Learn how you could be turned down, even with an 800-plus score. [[{“value”:”

Having a credit score of 800 or above isn’t something to take lightly. This is even more true if you start from a low score — the result, perhaps, of some previous mistakes — and build up to 800 or above. It takes quite a few on-time payments, a mix of credit, a low credit utilization ratio, and a long history of using credit to find yourself in the 800 club.

With all that work, you might think an 800 credit score will make it easier for you to apply and get approved for the best credit cards. This isn’t totally wrong: Credit card companies do consider credit scores. But it’s entirely possible to maintain an 800 credit score and still get denied — it happens all the time.

How can your credit card application be turned down with an 800 credit score? The following three reasons are some of the most common.

1. You’ve applied for too many credit cards recently

While it’s OK to have more than one credit card, it’s generally a good idea to spread out your credit card applications. If you apply for multiple credit cards within a short period of time, you might ruin your chances of getting approved.

It’s usually a big, bright red flag when a credit card company sees several new credit card accounts on your credit report. On the one hand, it might think you’re preparing for some kind of financial hardship. On the other hand, it might think you’re credit card churning — meaning you’re opening new credit cards for the welcome bonuses alone.

For example, Chase automatically denies applicants who have opened more than five credit cards within the last 24 months. This is called the 5/24 rule, and it’s ruined many credit card enthusiast’s dreams of opening a new Chase card.

A good rule of thumb is to open no more than one new account every three to six months. While that doesn’t mean you’ll get approved for every card you apply for, you’ll have a better chance than applying for multiple cards within a one-to-three-month period.

2. You’ve applied for too many credit cards for a single issuer

Some credit card companies have specific rules on how many of its cards you can open within a specific frame.

One example is Capital One credit cards. Reportedly, you can only get approved for one every six months. That means you could theoretically have a perfect 850 credit card and still get denied if you’re applying for two within that time frame.

Other cardholders may have different rules. If you’re not sure if an issuer has its own internal rules, contact its customer service or chat with a representative online. It’s better to be informed than to find out with a rejection.

3. Your income might not be high enough

When you submit your application, credit card companies usually ask you for two pieces of information: your income and your monthly housing payment. Companies want to be sure that you can afford new credit card payments. If your income is too low relative to your housing payment, a credit card issuer might not feel comfortable extending you a new line of credit — yes, even if your credit score is immaculate.

And no, it’s not wise to lie. Credit card companies aren’t stupid; they can sense when you’re deliberately misreporting your income or housing payment. If they sense that you’re fudging numbers, they could ask for proof of income. This could get you into deeper trouble, as lying on a credit card application is fraud and could result in a multiple-figure fine.

If your income isn’t high enough or you’ve opened too many credit cards, you might just have to wait until your situation changes. Maybe your housing payment goes down or you start making more money. Or perhaps you let some of the hard inquiries fall off your credit report. These would improve your chances of getting approved for a new credit card — even more so with that 800-plus credit score.

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