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Regular Contributor
Flying_High
Posts: 187
Registered: ‎08-12-2012
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PLZ HELP ME....Denied American Express?

[ Edited ]

I applied for Amex and I was denied they sent me letter for reason why I was denied one said No Recent Revolving Balances what does that mean?..I pay all my cards in full before due date.... The other one is Lack Of Recent Installment Loan Information?, I have no loans..

 

On my credit profile under the credit card Utilization Rate is $0 is that good or bad??

 

I have been useing all of my cards and total credit card bal would be at $0 and I just got approved for Ebay credit card used it same day but thats the only one that will show that I have bal of $13, right now I have a bal on my Dicover card but it doesnt show up why is that?

 

 

My Dicover card is NEW I have a bal on it....it said please check back ofter Nov 2, when your staement period close..So do I pay before the Nov 2nd or after??

 

 

I seriously feel like crying I have so many questions.

Theresa.

 

 

 

As of 9/13"
Starting Score: 600
Current Score: 600
Goal Score: 760
Garden till 10/14"
Valued Contributor
Repo-ed
Posts: 2,953
Registered: ‎02-09-2012
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Re: PLZ HELP ME....Denied American Express?

Ya, you can't PIF BEFORE the due date.  CC lendors typically do not like to see that.

Regular Contributor
Flying_High
Posts: 187
Registered: ‎08-12-2012
0

Re: PLZ HELP ME....Denied American Express?

[ Edited ]

CC lendors typically do not like to see that,

 

Dont like to see what? me PIF

As of 9/13"
Starting Score: 600
Current Score: 600
Goal Score: 760
Garden till 10/14"
Valued Contributor
navigatethis12
Posts: 1,913
Registered: ‎01-24-2012
0

Re: PLZ HELP ME....Denied American Express?

[ Edited ]

Flying_High wrote:

I applied for Amex and I was denied they sent me letter for reason why I was denied one said No Recent Revolving Balances what does that mean?..I pay all my cards in full before due date.... The other one is Lack Of Recent Installment Loan Information?, I have no loans..

 

On my credit profile under the credit card Utilization Rate is $0 is that good or bad??

 

I have been useing all of my cards and total credit card bal would be at $0 and I just got approved for Ebay credit card used it same day but thats the only one that will show that I have bal of $13, right now I have a bal on my Dicover card but it doesnt show up why is that?

 

 

My Dicover card is NEW I have a bal on it....it said please check back ofter Nov 2, when your staement period close..So do I pay before the Nov 2nd or after??

 

 

I seriously feel like crying I have so many questions & im not getting any answers.

Theresa.

 

 

 


Ignore lack of installment loans. I have none either and have no problem getting cards.

 

Zero utilisation is very good. You can have one card report a balance within 10% of the limit to raise your score a little, but it is not that big of a deal.

 

Most cards report around the date the statement closes. Discover will not show until sometime around November 2. Ebay will show when that statement closes.

 

You can pay before or after for Discover, it does not matter. If you pay before, it will show a zero balance on the credit report. If you pay after, it will show whatever balance you have.

 

 


Repo-ed wrote:

Ya, you can't PIF BEFORE the due date.  CC lendors typically do not like to see that.


 If you meant to say before the statement date, I do it all the time.

Regular Contributor
Flying_High
Posts: 187
Registered: ‎08-12-2012
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Re: PLZ HELP ME....Denied American Express?

[ Edited ]

Ignore lack of installment loans. I have none either and have no problem getting cards...Ok

 

Zero utilisation is very good. You can have one card report a balance within 10% of the limit to raise your score a little, but it is not that big of a deal..Ok

 

Most cards report around the date the statement closes. Discover will not show until sometime around November 2. Ebay will show when that statement closes..The last time I paid my Cap1 bill after due date It actually droped my TransU credit score and put me pass due, I had to call them and have them fix my credit score ever since that time I always PIF on all my cards. I never understood why that happen.

 

You can pay before or after for Discover, it does not matter. If you pay before, it will show a zero balance on the credit report. If you pay after, it will show whatever balance you have...Much rather pay before due date

 

 

Thanks for helping me out:womanhappy:

As of 9/13"
Starting Score: 600
Current Score: 600
Goal Score: 760
Garden till 10/14"
Valued Contributor
navigatethis12
Posts: 1,913
Registered: ‎01-24-2012
0

Re: PLZ HELP ME....Denied American Express?


Flying_High wrote:

Ignore lack of installment loans. I have none either and have no problem getting cards...Ok

 

Zero utilisation is very good. You can have one card report a balance within 10% of the limit to raise your score a little, but it is not that big of a deal..Ok

 

Most cards report around the date the statement closes. Discover will not show until sometime around November 2. Ebay will show when that statement closes..The last time I paid my Cap1 bill after due date It actually droped my TransU credit score and put me pass due, I had to call them and have them fix my credit score ever since that time I always PIF on all my cards. I never understood why that happen.

 

You can pay before or after for Discover, it does not matter. If you pay before, it will show a zero balance on the credit report. If you pay after, it will show whatever balance you have...Much rather pay before due date

 

 

Thanks for helping me out:womanhappy:


The information I gave was miscommunicated.

 

Usually you have to be thirty days late before a late appears on a credit report, but they can report before then. Never pay late on any type of loan. With a credit card at least make the minimum payment. That is what the due date means; it is due on or before that date.

 

With Discover I meant pay before or after the statement date, not the due date. You said your statement date is November 2. You do not have to pay it before then, and if you do not, it will report a blance to the credit bureaus.

Senior Contributor
youngandcreditwrthy
Posts: 6,155
Registered: ‎08-16-2012
0

Re: PLZ HELP ME....Denied American Express?

Flying high- I think you misunderstood the ops point... Which is of course, always pay on time!!!

But pif before the due date or the date your statemenr cuts is bad because if your statemenr balance is at zero on evert account, then it looks like you aren't using your credit responsibly or even at all. Lenders like to see you use a little credit <9% bc that's how they make their money. What is your FICO btw?
I got approved for the Amex BCE earlier this month... I have a 696 TU Fico, 12% util, about 3 yrs aaoa, and $36k in deferred student loans.

Hope this helps :-)

PS.. Maybe try to call Amex Exec office to speak with them about it... OR fig out which of your accounts' next statement cutting date is soonest and let that one report a balance so that if Amex pulls your report, you'll have some utilization :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
JonStur
Posts: 904
Registered: ‎12-25-2010
0

Re: PLZ HELP ME....Denied American Express?

[ Edited ]

Go to the back door numbers thread on here and find AMEX. Call them  and get an underwriter to manually review your app. They should be able to answer all your queries.


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Regular Contributor
Flying_High
Posts: 187
Registered: ‎08-12-2012
0

Re: PLZ HELP ME....Denied American Express?

[ Edited ]

@youngandcreditwrthy

 

But pif before the due date or the date your statemenr cuts is bad because if your statemenr balance is at zero on evert account, then it looks like you aren't using your credit responsibly or even at all...On both of my Cap1 cards they do give me due date i do PIF before that but still comes up $0

 

What is your FICO btw? The last time I checked 1 month ago my FICO TU it was 741 it could have changed since I got 3 new cards, Now on my last FICO EQ it was 692 after denied at Amex my score changed they said my FICO EQ score is 685..

aaoa is 9 months

 

OR fig out which of your accounts' next statement cutting date is soonest and let that one report a balance so that if Amex pulls your report, With my Dicover I'll wait after Nov 2nd and so what happens.

 

 

 

@ JonStur...I am thx

 

@navigatethis12...Im going to wait for my statement to come out and then pay..thank you so much

 

 

As of 9/13"
Starting Score: 600
Current Score: 600
Goal Score: 760
Garden till 10/14"
Established Contributor
Koop10010
Posts: 731
Registered: ‎02-15-2012
0

Re: PLZ HELP ME....Denied American Express?

The reasons that Amex and other lenders give for denials or "less than best" terms on a card aren't always that accurate.  Sometimes they may be spot on, but just as often you have to just focus on the first one or the one that actually seems to apply the most, or just kind of read between the lines.

 

Ideally, you want to have one card report a small (<10%) balance and all others report $0 to maximize FICO.  The balance reported is almost always the balance on your statement.  But honestly, unless you have some really high utilization reported, I doubt that was the reason for denial.

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