DENIED Amex CLI--And that's ok

[lhcole77]

So, I got denied. But I'm ok with it. And the reasons seem valid.

Even with a 750 EX FICO score and under 10% UTL some of the reasons cited were:

• Too short of history (18 mos of credit card history)
• Too many INQ in 12 mo period (opened City and Barclay's weeks after Amex)

I've gone from scores in the 550s and 560s in 2009 to where I'm at in 2013. Very grateful for that. And the truth is only one of my cards is 18 mos old, while the four others are under 2 mos.

This was a great learning opportunity for me. I am grateful for what I have now (almost 25K in CL when I had $0 back in 2011). And I am excited about building my profile even thicker and better for the future.

This eager beaver is gonna take a nap (aka garden)! Okurrrr?!?!

[Luscher]

whats your limit and what were you trying for? also whats your income?

[lhcole77]

Current CL is $9,500. Asked for additional $7,500. Income is in $40K-$50K bracket (until after I get my degree)

[djc1puno]

At least you know why and can try again in 3 months

[lhcole77]

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@djc1puno wrote:
At least you know why and can try again in 3 months

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Uh huh and Mmmmhmmmm

[myjourney]

Sorry to hear

You have done well and can always try again 

And CLI's are SP's so no harm learning experience

[lhcole77]

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@myjourney wrote:

Sorry to hear

You have done well and can always try again 

And CLI's are SP's so no harm learning experience

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Thanks journey! I agree. This is a great learning experience.

[thom02099]

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@lhcole77 wrote:

So, I got denied. But I'm ok with it. And the reasons seem valid.

Even with a 750 EX FICO score and under 10% UTL some of the reasons cited were:

• Too short of history (18 mos of credit card history)
• Too many INQ in 12 mo period (opened City and Barclay's weeks after Amex)

I've gone from scores in the 550s and 560s in 2009 to where I'm at in 2013. Very grateful for that. And the truth is only one of my cards is 18 mos old, while the four others are under 2 mos.

This was a great learning opportunity for me. I am grateful for what I have now (almost 25K in CL when I had $0 back in 2011). And I am excited about building my profile even thicker and better for the future.

This eager beaver is gonna take a nap (aka garden)! Okurrrr?!?!

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Lesson learned!  Good on you for remaining optimistic!  Yup, you can try again, there's always that "tomorrow".

I sorta/kinda left the Garden for a CLI request on my Clear.  At $10K, tried for increase to $18K, was denied, also because of too many inquiries.  I know, the itch got the better of me, but it was a SP on the denial.  And inquiries fall off. 

For both of us, patience is a virtue ! !

[09Lexie]

Sorry for the denial! I read your other thread about forgetting your card at home and I was rooting for you.

Next time!

[lhcole77]

Amen! @thom

Awomen! @Lexie