I applied for a 10000 visa from my credit union, and they told me i owed too much money: I have a 130,000 mortgage (that i co-pay with my wife) and a 30,000 equity line that i also co-pay. I also have an AMEX and a Bank of america visa. How can i get the credit reports to see/report this as a co-paid loan? What other sugestions would you guys have. Thanks!!
When you applies for the credit card, did you include your wife's income as part of your household income? That is what they need to see. If your name is on the mortgage, it is all considered your debt, because if she doesn't pay, you'll have to. So you need to show all income as well.
Apply for cards which don't have manual underwriting. Citi, Chase, Bank of America, etc., will not be like having someone sit and review your reports. It is generally automated and based upon your FICO score. In addition, report all of you household income as mentioned before.
