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Contributor
Posts: 88
Registered: ‎01-01-2008
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I fell off the wagon...and so soon.

I was reading a thread about AMEX pulling EX reports and was so excited by my new 648 EX score that I applied for the Delta Skymiles card before I could stop myself...and was denied. I read about recon calls/letters, and thought I might try that, but I'd like to wait to see if one of my GW letters pays off. If it does, it will leave me with one collection for $440, one CC with $100 balance/$200 limit and one CC with $4500 balance/$18000 limit. How long can you wait to do a recon call/letter? I assume they will do another hard inquiry? I am dreading updating my report tomorrow. I don't want to see my score slip because of another inquiry (this was #7 in the last two years, #6 in the last year.)

No more inquiries for a while! How many is too many?

Thanks!
EQ 560 EX 648 TU 560 01/01/08 FAKO
EQ 563 EX 678 TU 581 02/05/08 FAKO
Money is a poor man's credit card.
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Posts: 6,794
Registered: ‎09-29-2007
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Re: I fell off the wagon...and so soon.



TracyFace wrote:
I was reading a thread about AMEX pulling EX reports and was so excited by my new 648 EX score that I applied for the Delta Skymiles card before I could stop myself...and was denied. I read about recon calls/letters, and thought I might try that, but I'd like to wait to see if one of my GW letters pays off. If it does, it will leave me with one collection for $440, one CC with $100 balance/$200 limit and one CC with $4500 balance/$18000 limit. How long can you wait to do a recon call/letter? I assume they will do another hard inquiry? I am dreading updating my report tomorrow. I don't want to see my score slip because of another inquiry (this was #7 in the last two years, #6 in the last year.)

No more inquiries for a while! How many is too many?

Thanks!

Sorry to hear about your denial.
 
I'm not sure how Amex is about recon.  They seem to be sticklers about their decisions.  In any case, you may want to wait for the letter and find out the reasons they give so you can address those specific points in your letter.
 
As far as how many INQs is too many, that depends entirely on the creditor.  I have seen reports of Amex denying for too many inquiries at 7.
 
If you don't mind, what baddies do you have and how old are they?  That info might help diagnose why Amex might have turned you down.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
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Re: I fell off the wagon...and so soon.

what was the reason(s) for the decline?
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Re: I fell off the wagon...and so soon.



Timothy wrote:
what was the reason(s) for the decline?



I'm sure their account review people are still trying to find a way to get my CLI processed and are just busy.  Well, at least that's what I'm guessing.  Woman Very Happy Of course I take full credit for the way the AMEX website acted today.
 
Smiley Happy
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Contributor
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Registered: ‎01-01-2008
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Re: I fell off the wagon...and so soon.

On my EX report, which is the only one they noted in the denial, I have the following:

$202 Paid Collection - Report says Opened 08/2006 - This is the one I GWed.
$440 Unpaid Collection - Report says Opened 07/2006 - I just found out about this one and will take care of it ASAP.

That's it as far as the bad stuff. On my TU, I also have an unpaid collection for $496 opened 4/1/02.

Thanks!
EQ 560 EX 648 TU 560 01/01/08 FAKO
EQ 563 EX 678 TU 581 02/05/08 FAKO
Money is a poor man's credit card.
Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
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Re: I fell off the wagon...and so soon.

[ Edited ]


TracyFace wrote:
On my EX report, which is the only one they noted in the denial, I have the following:

$202 Paid Collection - Report says Opened 08/2006 - This is the one I GWed.
$440 Unpaid Collection - Report says Opened 07/2006 - I just found out about this one and will take care of it ASAP.

That's it as far as the bad stuff. On my TU, I also have an unpaid collection for $496 opened 4/1/02.

Thanks!

These collections aren't old enough for Amex.  They generally want no baddies for two years.
 
Honestly, recon may not help, but it certainly can't hurt!
 
GL to you!

ETA:  I'm referring specifically to the Delta Skymiles card you apped for.  The standards for most of their other cards are even more stringent.
 


Message Edited by cheddar on 01-02-2008 09:53 PM
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
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Posts: 9,252
Registered: ‎03-19-2007
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Re: I fell off the wagon...and so soon.

baddies under 2 years old.

good luck on your recon.

TracyFace wrote:
On my EX report, which is the only one they noted in the denial, I have the following:

$202 Paid Collection - Report says Opened 08/2006 - This is the one I GWed.
$440 Unpaid Collection - Report says Opened 07/2006 - I just found out about this one and will take care of it ASAP.

That's it as far as the bad stuff. On my TU, I also have an unpaid collection for $496 opened 4/1/02.

Thanks!


Contributor
Posts: 88
Registered: ‎01-01-2008
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Re: I fell off the wagon...and so soon.


Timothy wrote:
what was the reason(s) for the decline?



These are the reasons listed for the denial:

Your consumer credit bureau score from Experian is too low (See below)

Delinquency reported on accounts (Experian)

Too many accounts with balances (Experian)

Length of time accounts have been established (Experian)

Your consumer credit bureau score mentioned above was determined using a scoring system that evaluated the information in your file at the consumer reporting agency named above. The following are the primary factors in your credit report that affected your credit bureau score:

Derogatory public record or collection filed.

Length of time accounts have been established.

Time since derogatory public record or collection is too short.

Too many inquiries last 12 months.
EQ 560 EX 648 TU 560 01/01/08 FAKO
EQ 563 EX 678 TU 581 02/05/08 FAKO
Money is a poor man's credit card.
Contributor
Posts: 88
Registered: ‎01-01-2008
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Re: I fell off the wagon...and so soon.


WhirledPeasPlease wrote:


Timothy wrote:
what was the reason(s) for the decline?



I'm sure their account review people are still trying to find a way to get my CLI processed and are just busy. Well, at least that's what I'm guessing. Woman Very Happy Of course I take full credit for the way the AMEX website acted today.
Smiley Happy






Well, thanks for letting me know! Maybe I should check with you to make sure someone is available to process my recon? :-)
EQ 560 EX 648 TU 560 01/01/08 FAKO
EQ 563 EX 678 TU 581 02/05/08 FAKO
Money is a poor man's credit card.
Contributor
Posts: 88
Registered: ‎01-01-2008
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Re: I fell off the wagon...and so soon.


cheddar wrote:


TracyFace wrote:
On my EX report, which is the only one they noted in the denial, I have the following:

$202 Paid Collection - Report says Opened 08/2006 - This is the one I GWed.
$440 Unpaid Collection - Report says Opened 07/2006 - I just found out about this one and will take care of it ASAP.

That's it as far as the bad stuff. On my TU, I also have an unpaid collection for $496 opened 4/1/02.

Thanks!

These collections aren't old enough for Amex. They generally want no baddies for two years.
Honestly, recon may not help, but it certainly can't hurt!
GL to you!

ETA: I'm referring specifically to the Delta Skymiles card you apped for. The standards for most of their other cards are even more stringent.


Message Edited by cheddar on 01-02-2008 09:53 PM




I really wish I could have been more patient! Argh. Thanks for your input!
EQ 560 EX 648 TU 560 01/01/08 FAKO
EQ 563 EX 678 TU 581 02/05/08 FAKO
Money is a poor man's credit card.
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