My CU just decline me for a Visa CC

[RW3]

Got discharged in June, just got declined for a Visa w/ $2,000 limit...

Reason:

This message is to inform you that your VISALOAN request for $2,000.00 has been declined due to the following reasons:

• Excessive Obligations

You will be receiving notice of this in the mail shortly. Thank you.

Can someone explain what excessive obligations means? Also I applied as an individual, should I reapply jointly with my wife?

[RW3]

Just looked it up:

Excessive obligations in relation to income. Should be used where borrower's existing debt to- income exceeds the bank standards even
before adding in the requested credit.

So perhaps I should reapply jointly w/ my wife? What do you think?

http://www.bankersonline.com/tools/adversereasonschart.pdf

[BKOnce]

Excessive Obligations = Too Much Debts

[NoMoreCards]

Excessive obligations in relation to income.

So perhaps I should reapply jointly w/ my wife? What do you think?

I would recommend thinking twice about re-applying.

1.) A second hard pull on your CR is not good in such a short period of time. 2.) Also, it seems they feel your obligations are already too high

So if you can, perhaps wait a while, work to pay down debt and then reapply at a later date.