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i posted a thread about possiblities of a revolver... turns out i dont even qualify for a charge card. sigh.
This is what a new account specialist told me;
1. Apparently i shouldn't of applied again for the zync since its only been 30 days, he said to wait atleast 90 days.. He sent me an email for the reasons i was declined here they are;
We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On February 28, 2012, your FICO score was 694. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:
| Length of time accounts have been established. Too many inquiries last 12 months. Proportion of loan balances to loan amounts is too high. Proportion of revolving balances to revolving credit limits is too high. |
One thing i don't understand is the revolving balances to limit is too high.... since my util is 8% and only a balance on 2 cards my citibank card with 10% util and my capital one card with 6% util.....
Then the balances on loan... the loans aren't in repayment yet but apparently its partially a reason why i got declined...... Too many inq's in last 12months... i guess 8 (2 being amex) is too many.
and my AAoA is too low... nothing i can do about that..
So what do you guys think i should do? I Thought with my score at right below 700 i'd qualify just on that.. but i guess not.
AMEX is quirky and it can be hard to predict when they will approve, and credit scores aren't usually a good indicator of approval either. I'd give it another few months then try again.
You don't have to wait 90 days between apps, the CSR probably just told you that assuming that your report would look better after a longer period of time. AMEX lets you re~apply every 30 days.
@pizzadude wrote:
AMEX is quirky and it can be hard to predict when they will approve, and credit scores aren't usually a good indicator of approval either. I'd give it another few months then try again.
You don't have to wait 90 days between apps, the CSR probably just told you that assuming that your report would look better after a longer period of time. AMEX lets you re~apply every 30 days.
i heard 60 days if they tell you no...
My friend applied yesterday and was denied...her letter said "Please wait atleast 30 days before submitting a new application."
Every rejection letter that I have received from AMEX ( and I have plenty believe me ) has this information:
Applicants who were not approved for a new account at one time may qualify in the future. You are welcome to apply for any of our cards, but please wait at least 30 days before submitting a new application.
@pizzadude wrote:
Every rejection letter that I have received from AMEX ( and I have plenty believe me ) has this information:
Applicants who were not approved for a new account at one time may qualify in the future. You are welcome to apply for any of our cards, but please wait at least 30 days before submitting a new application.
Did you finally get one pizzadude? Hope you don't mind my asking.. It gives us hope to hear the success stories of others!
@TeeandDee wrote:Did you finally get one pizzadude? Hope you don't mind my asking.. It gives us hope to hear the success stories of others!
Yeah I was approved for the Zync card last year, they counter~offered me either the $200 or $500( autopay ) hard limit cards. I went with the $200 hard limit due to some of the delays that people have reported with getting autopay set up. I use the card as much as possible, and end up paying at least 3 or 4 times a month to keep it under the limit.
@pizzadude wrote:
Every rejection letter that I have received from AMEX ( and I have plenty believe me ) has this information:
Applicants who were not approved for a new account at one time may qualify in the future. You are welcome to apply for any of our cards, but please wait at least 30 days before submitting a new application.
+1
i waited 30 days in between applications.
But i dont want to apply in march just to be declined again and get another inquiry... what can i do to improve my chances? I cant increase my age... i can't lower my util anymore (already 8% anything lower wont make my score go up)
should i try a chase card? i was honestly looking for a 2nd prime card to run most of my charges on.
Currently i have discover citi as my 2 prime cards but discover has a low limit and citi has bad rewards...
@Juan123 wrote:i waited 30 days in between applications.
But i dont want to apply in march just to be declined again and get another inquiry... what can i do to improve my chances? I cant increase my age... i can't lower my util anymore (already 8% anything lower wont make my score go up)
should i try a chase card? i was honestly looking for a 2nd prime card to run most of my charges on.
Currently i have discover citi as my 2 prime cards but discover has a low limit and citi has bad rewards...
Garden