"Too Many Accts W/ Low Credit Limits"
The Home Depot® Credit Card Review
Written by: anonymous on 2007-09-20
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anonymous's review: 
I just wanted to share my experience with having too many inquiries and too many accounts with low credit limits. Within the last three months I have applied for numerous accounts and have been approved and accepted numerous cards with low credit limits such as Dillards $200, JcPenny $200, Brylane Homes $250, Carnival Cruise $300. I have also accepted numerous cards with high credit limits such as Hooters $4000, Direct Rewards $3000 & Travelocity $5000. Well I just received a denial letter in the mail today from Home Depot giving me the two main reason why they declined me for credit. 1) Too Many Inquiries within the past 12 months, 2) Too Many Accounts with low credit limits. So even though we are finally able to get credit, it seems that the low credit limits can also be a negative factor. Today I closed all new accounts opened within the last three months with limits below $1000.
I just wanted to share my experience with having too many inquiries and too many accounts with low credit limits. Within the last three months I have applied for numerous accounts and have been approved and accepted numerous cards with low credit limits such as Dillards $200, JcPenny $200, Brylane Homes $250, Carnival Cruise $300. I have also accepted numerous cards with high credit limits such as Hooters $4000, Direct Rewards $3000 & Travelocity $5000. Well I just received a denial letter in the mail today from Home Depot giving me the two main reason why they declined me for credit. 1) Too Many Inquiries within the past 12 months, 2) Too Many Accounts with low credit limits. So even though we are finally able to get credit, it seems that the low credit limits can also be a negative factor. Today I closed all new accounts opened within the last three months with limits below $1000.1 Comment
Comment 1 by nessa
Re: Anonymous 
on 2007-09-21
Thank you for that info. I've had declined letters like that too and I have 2cards with low limits of$200-250 and I'm going to closed them too because I have hooters and capital one and they have nice limits. I don't need those other cards. Plus I've had them for a yr.
on 2007-09-21 Thank you for that info. I've had declined letters like that too and I have 2cards with low limits of$200-250 and I'm going to closed them too because I have hooters and capital one and they have nice limits. I don't need those other cards. Plus I've had them for a yr.
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Disclaimer: This content is not provided by Citibank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citibank. Review content is powered by Finance Globe.
