Is it OK to deny this rental application?

[Deborah R.]

Hi, I'm newer at this.  I have written minimum requirements for renting our houses that I share with prospective tenants which includes ">600 credit score.  Pattern of financial responsibility".

This couple sent me an application.  They meet the income requirements and credit score.  However, when I look at their credit report, it scares me as a landlord.  

He makes close to $60k/year before taxes. Has almost $30k in revolving debt and is very close to credit limits and sometimes goes over them. Has about $700 in collections.  Just tried to open a bunch of new credit cards 5 months ago; those he did open are now close to credit limit.

She isn't making much money because she's studying for her bar exam in two months. She has $9000 in collections from college student apartments in 2018.

Although they meet the credit SCORE requirement, is it OK if I deny them because of these other details?  Or am I overreacting?  Rent for this home is $1990/month. 

Thanks for the advice!