@NewBreed wrote:I just got a denial letter from amex i appled for like 2 weeks ago and apparently my FICO is 623
I was denied on
"Serious deinquincy, and public record or collection filed" - but i paid ALL of it off totalling 1800 (yeah thats it only 1800 freakin sucks) from like 3 years ago.
"length of time accts have been established" - i have 1 car (5 year history on credit) - 1 Cap one with 1 year history and 1 Cap 1 with 5 month history
"time since derogatory public record or collection is too short" - idk what that means, but everything is paid off It means the time from when you got the collection to right now is too soon (3 years like u said). You need to wait until it either falls off or be much older.
"too few accts currently paid as agreed" - i am never late on anything!? You were late for something, thus the collection.
HOW in the world can i get approved for an AMEX... i am gardening untill about October, would that do the trick?.... and why the heck is myt FICO so low
Ive been approved for Chase Freedom and Discover IT just this past week.
try to write a goodwill letter to the collection agency to have it removed.
there's templates that you can use.
that's probably the best thing you can do for now, or wait until the collection either drops off, or be >5 years old at the very least. that collection is killing your scores atm.
Those I highlighted are referring to your collection specifically.
@CreditScholar wrote:
@NewBreed wrote:
@myjourney wrote:
@NewBreed wrote:I just got a denial letter from amex i appled for like 2 weeks ago and apparently my FICO is 623
I was denied on
"Serious deinquincy, and public record or collection filed" - but i paid ALL of it off totalling 1800 (yeah thats it only 1800 freakin sucks) from like 3 years ago.
"length of time accts have been established" - i have 1 car (5 year history on credit) - 1 Cap one with 1 year history and 1 Cap 1 with 5 month history
"time since derogatory public record or collection is too short" - idk what that means, but everything is paid off
"too few accts currently paid as agreed" - i am never late on anything!?
HOW in the world can i get approved for an AMEX... i am gardening untill about October, would that do the trick?.... and why the heck is myt FICO so low
Ive been approved for Chase Freedom and Discover IT just this past week.
You are in the garden so work on getting baddies removed while your scores rebound....You had to many INQ's but you didn't know so know you know...
With the year of gardening like we explained to you those things won't effect you much and at that point you may stand a better chance with Amex
Now back to the garden Lol
Well now that i am gardening, how do i remove the baddies off my CR? this is what i am trying to figure out and wrap my head around... i am doing well with my credit limit and showing usage so whats the trick with the scores
You can't really remove them as such. They stay on your credit report for 7.5 years (BK remains for 10), but they'll hurt your score less and less over time.
Your 2 CCs are frankly extremely new, and your collection 3 years ago is still relatively recent for such a major derog.
The main thing you need to do is keep establishing a good history, PIF on time, avoid any more derogs, and most of all time.
Good advice!!! 
@NewBreed wrote:I just got a denial letter from amex i appled for like 2 weeks ago and apparently my FICO is 623
I was denied on
"Serious deinquincy, and public record or collection filed" - but i paid ALL of it off totalling 1800 (yeah thats it only 1800 freakin sucks) from like 3 years ago.
Being paid certainly helps but just the fact they are there is hurting a lot.
"length of time accts have been established" - i have 1 car (5 year history on credit) - 1 Cap one with 1 year history and 1 Cap 1 with 5 month history
They are focused on revolving accounts and those two cards combined have an AAoA of less than a year.
"time since derogatory public record or collection is too short" - idk what that means, but everything is paid off
If you have a major derog this one is a excuse that's going to come everytime with #1, it's like a combo pack. It's just the fact it's there.
"too few accts currently paid as agreed" - i am never late on anything!?
They are wanting to see more than two revolving accounts.
HOW in the world can i get approved for an AMEX... i am gardening untill about October, would that do the trick?.... and why the heck is myt FICO so low
You need to ensure your reports are showing correct. Make sure that derog is reporting 100% correctly. If it's reporting a later date it can make it look like the incident occured much more recent that is true tanking your score. Also make sure you are taking care that your not letting your cards report high UTL. How are your INQ's? 623 is an awefully low score for only one derog. No lates or any other negative information?
Ive been approved for Chase Freedom and Discover IT just this past week.
Garden those for six months and see how you score does. Having other prime cards will be a massive help to getting Amex. They don't like to be the first on the block.
See above, good luck.