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New Contributor
Posts: 91
Registered: ‎04-27-2013
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Denial for AMEX

I just got a denial letter from amex  i appled for like 2 weeks ago and apparently my FICO is 623:smileysurprised: 

 

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.

Cap One Cash Back UnSecured: 1.5K
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Chase Slate: 2k
Discover IT: 1K.
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Valued Contributor
Posts: 1,557
Registered: ‎11-10-2012
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Re: Denial for AMEX


NewBreed wrote:

I just got a denial letter from amex  i appled for like 2 weeks ago and apparently my FICO is 623:smileysurprised: 

 

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.


Did you apply for a charge card or a revolver? Revolvers are much harder to qualify for, so a charge card would be a foot-in-the-door at least. I'm sure as your derogs age more, your scores will go up, just give it some time.

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New Contributor
Posts: 91
Registered: ‎04-27-2013
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Re: Denial for AMEX


indiolatino61 wrote:

NewBreed wrote:

I just got a denial letter from amex  i appled for like 2 weeks ago and apparently my FICO is 623:smileysurprised: 

 

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.


Did you apply for a charge card or a revolver? Revolvers are much harder to qualify for, so a charge card would be a foot-in-the-door at least. I'm sure as your derogs age more, your scores will go up, just give it some time.


But why is my FICO so low? i thought after i paid off my derogs then itll be fine, and being that i was approved for chase and discover im having a hard time believing that the FICO will ever see light and grow to a better score. i am just kind of in Awe that my score is that low and it sucks.

Cap One Cash Back UnSecured: 1.5K
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Chase Slate: 2k
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AmEx Green: NPSL
Community Leader
Senior Contributor
Posts: 27,115
Registered: ‎02-07-2013
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Re: Denial for AMEX


NewBreed wrote:

I just got a denial letter from amex  i appled for like 2 weeks ago and apparently my FICO is 623:smileysurprised: 

 

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

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Senior Contributor
Posts: 27,115
Registered: ‎02-07-2013
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Re: Denial for AMEX


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:smileysurprised: 

 

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


FYI

Amex has its on scoring system they just supplied you with a CR they pulled and I'm willing to bet on you they pulled 2 

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Contributor
Posts: 88
Registered: ‎03-16-2012
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Re: Denial for AMEX

That collection is killing you. I had a paid two year old IRS lien withdrawn and removed, it was worth 50 pts. If its a paid collection account, dispute to verify info, many times you'll get lucky and they won't verify a paid collection and it is removed after 30 days. If IRS, file to have withdrawn. If its with a major bank, chances are slim for removal. Check rebuilding credit forum for better ideas.

You will have a hard time getting AMEX till you're at 670 for a charge card


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New Contributor
Posts: 91
Registered: ‎04-27-2013
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Re: Denial for AMEX

[ Edited ]

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:smileysurprised: 

 

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

Cap One Cash Back UnSecured: 1.5K
Chase Freedom: 2k
Chase Slate: 2k
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AmEx Green: NPSL
Established Contributor
Posts: 573
Registered: ‎05-29-2011
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Re: Denial for AMEX

There really is no "trick" other than paying your bills on time month over month and keeping your util low.  You could -try- and recon but a quick once-over of your history, time since delinquincy, and current CL's says they probably won't approve you.  

 

Keep up the good work, rebuilding credit takes lots of time and patience.

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Valued Contributor
Posts: 2,300
Registered: ‎01-22-2012
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Re: Denial for AMEX


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:smileysurprised: 

 

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.

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Senior Contributor
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Registered: ‎02-07-2013
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Re: Denial for AMEX


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:smileysurprised: 

 

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


Whatever baddies you have on your CR's do a search or start a thread for each in rebuilding forum...great help there.

As for score keeping using your cards while your working on those baddies your scores will increase  with time 

You will see another score drop when new cards report due to all the INQ's if I remember right 2 new accounts but don't let it get you down they will rebound in about 6 months or so

See you in the garden fellow gardener :smileywink:

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