01-08-2013 07:02 PM - edited 01-22-2013 05:18 PM
How does one recon a credit card denial?
Also what should you do in preparation for the phone call...
01-08-2013 07:04 PM
i write everything down before i talk to CSR.....
01-08-2013 07:06 PM - edited 01-08-2013 07:07 PM
Do you know the reason for denial? Also know what is in your credit report and be prepared to explain anything on it, especially anything that they may view as negative. Eg, alot of inquiries, high debt, late payments etc.
Sell yourself as a good customer!
01-08-2013 07:25 PM - edited 01-08-2013 10:02 PM
I felt the wrath of Christmas utilization in combination with mid cycle reporting.
It caused my online app for an Amex bce to be denied.
I was sent a score of 716 and I know it would've been well over that had I not had high utilization showing. Everything currently has a zero balance except my charge card which is at roughly %3 of the most I've ever pushed through it in one month.
They also cited my vehicle loan which is a little over %25 paid (14 months in to a 60 month loan)
And lastly my aaoa is too young. My oldest card is 23 months old and I've had an Amex for 16 out of the 23 months that I've been building my credit.
I always pay everything on time and in full.
01-08-2013 08:16 PM
your credit file look more than good enough for approval.
I would call them up and explain situation.
ASk them look at your current Amex account with good payment history.
Also look at other credit card company with most on time payment. TEll them you in your way to build your credit and really love their charge card and now want their revolve rewards structure.
01-09-2013 01:42 AM
"please please please pleaseeee"
^^, all good advice here. Basically be ready to discuss anything in your report that has been seen as negative.
Point out the good things 4-5K CL, payment history, auto loan, etc.
Emphasize hpw you will/ have paid for your balances to zero.
Tell them you will be making big payments instead of the minimum.
01-09-2013 06:33 AM
01-09-2013 03:20 PM
01-14-2013 08:09 PM
01-14-2013 08:13 PM
Nice congratulation.....You should call them and ask for the limit they should able to tell u right away
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