Amex Denial Question

[joe867]

I recently learned about the old Blue Cash and decided to apply for it this weekend. A bit impulsive, but I thought my chances were good and I don't want to miss my opportunity if this offer disappears. My application went to in progress and the next day I called in a got the bad news, denied...

Now even though I thought I had a good chance for approval I was still half worried that I would be denied because I just applied for and was approved for 4 cards about 3 1/2 weeks ago. So as you can guess one of my denial reasons was too many recent inquiries. I was also told that my loan to value was high - my va mortgage is only 2 years old so I might have ~6% equity. I also have one 60 day late payment from 6 1/2 years ago. And last but not least one of my payments to Amex about 9 months ago was returned because I forgot to transfer funds to my checking account. I called up as soon as a noticed my mistake and at the time I was told this was no problem and that they would try to withdraw the funds again in 3 days. I didn't think that would be a problem since it was a mid statement payment. Obviously at least someone cared.

So my current scores are in my signature and my inquiries are as follows: EX 5, EQ 2, TU 4. They pulled EX. My util is about 2%. Based on all of this I am unsure if I should send a recon letter and risk a HP and denial or should I wait 31 days and try applying again or should I wait even longer and then apply keeping in mind my fear that this offer may disappear. Any thoughts?

[myjourney]

IMHO since you're a customer wait and try again since the SP if denied HP if approved applies to you 

Why risk a HP with recon which could be a denial again 

[indiolatino61]

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@myjourney wrote:

IMHO since you're a customer wait and try again since the SP if denied HP if approved applies to you 

Why risk a HP with recon which could be a denial again 

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+1...great advice. You're only out a SP, so why chance it? Wait the 90 days and try again. The best of luck to you.

[09Lexie]

Reconning will only help if any of the reasons listed were an error.  With a recent returned payment and high number of inq's it's probably best to let your internal score rise. 

[joe867]

Why wait 90 days? If a denial is a sp can't I just try again in 30?

[newUser0]

You could try. They might think, of too many new accounts again. It's a good idea to wait atleast 2-3 months then, try.

[enharu]

Like others said, its best you give it more time before you reapply. You just went on a spree, and got denied as a result. If you keep prodding, it may just seem like you are desperate for credit, even though that may not be the case.

Best to lay low and let those accounts age than to invite a FR.

[junior88]

Just wanted to share my recent experience. I was approved for the Delta Gold earlier this month. This past weekend I applied for the BCE since it appeared that it would be a SP if denied. Well, I was denied and it was a HP. Denied due to Inq's which I do not dispute at all. Just wanted to throw this out to you guys.