Poor Judgement

<p>So i have 2 Loans and 2 Credit cards. With the 4 installments, the totals are INSANE!!! probably totalling about 9k a month ...</p> <p>I app**** for a Personal loan through Capitec. Calculated on the HIGHEST intrest rate of 22%, Installment would have been about 4Grand a month for the amount i needed.</p> <p>They asked me Whats the reason for the loan and My answer was "Consolidate my debt".</p> <p> </p> <p>They declined the Loan application saying, "you have too many Loans/Credit cards"</p> <p>Where is the logic of Asking me whats it for then using that against the application??? Naturally, The if the loan was approved, 2 loans would be Paid up and 2 Credit cards would be paid up. Freeing up a WHOLE 5GRAND!!!! and i end up with just 1 Loan..</p> <p> </p> <p>I do not see the logic in declining it with that as the reason when ITS THE REASON i app**** for the Loan</p> <p> </p> <p>POOR POOR POOR judgment Call on the application..</p>