This will be a bit lengthy...
I applied for a blue amex card last week but was denied and a few months ago I applied for an increase in my ING direct overdraft protection amount and was denied for that too. The reason being "insufficient length of revolving credit history" and "insuffcient number of revolving credit references"... this is what I was told from ING and I assume Amex might be for the same reason. Last month when I got my credit report some of the suggestions/comments were similar to this...but how am I supposed to improve my revolving credit if I can't get any?
Maybe I'm looking at this the wrong way...I dunno
I have a JCP card that I opened just over a year ago and in Feb 07 I opened a best buy card, both of these were approved with no problem..JCP was approved for over $1300 if I remember correctly..and BB for about $1400 or so...and both have been increased to over $2000 since I've had them. I've never asked for a credit increase for either one, I always pay on time and always pay more than the minimum and my balances aren't too high..never maxed out on them.
I would like to get a CC but maybe I'm applying for the wrong type of card? How long is a good amount of time for revolving credit? I don't have any other types of cards, no mortage or car payments or anything like that...though I have 2 additional cards(revolving) on my credit report where I am listed as an authorized user. Last time I checked(about 8 months ago) my credit scores were fine..between 710 and 730...though I know I need to look at them again sometime soon.
What's the chance of me getting a CC in the next few months? What might be the best kind to apply for? And finally, when the CC companies look into my credit reports/scores.. does this drop my score each time?
Thanks