Credit Cards

[7PM789]

How does one recon a credit card denial?

Also what should you do in preparation for the phone call...

[nicholasyud]

i write everything down before i talk to CSR.....

[Epcot]

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!

[7PM789]

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.

[nicholasyud]

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.

Goodluck.

[CruzImperial]

"please please please pleaseeee"

repeat.

^^, 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.

[Duncanrr]

Also, if you know there is a seriously bad ugly on your reports then you may want to bring it up yourself. I do this sometimes with my cap1 auto. I know its going to be looked at and ill say something like the following when they ask if they can ask me some questions about my CR.

"Yes you may ask your question but please allow me to shed some light on what I feel is my most negative item on my cr." I then talk about the account in detail.

This does several things. I allows me to frame the discussion on my terms. It minimizes its overall neg impact. It shows I know my credit and am honest and open with them. And finally, I use all of that to illustrate that I have educated myself about proper use of credit and will not make the same mistakes I made in the past.

[7PM789]

Since high utilization doesn't hurt you long term the only negative on my reports is the number of inquiries on each.

Since my credit journey began less than two years ago not a single inquiry has aged off yet.

[7PM789]

I called in for a recon on Friday, after being on hold for over ten minutes I spoke to a man with an Indian accent who tried to convince me I had too many inquires on my Experian report (3 in the last year) to qualify for the bce. The gentleman even began talking over me at one point which left me rather disappointed with the customer service I was experiencing.

If I ever call Amex again I'm going to immediately ask to be transferred to a U.S. based call center.

Well once he allowed me to speak I convinced him to send it to the "next desk" and have been checking the application status online frequently and it just changed from pending to approved.

I don't know what the limit is yet.

[nicholasyud]

Nice congratulation.....You should call them and ask for the limit they should able to tell u right away