Shot down for Blue Cash, any thoughts?

[Anonymous]

Is there anything else that I could/should do before applying again?  I was going to wait a month or two and then see what happens, but am not sure what is necessary or ideal timing to try again.  I will make sure that the balance on the card is reasonably low at that time and keep my fingers crossed.  Other than that I am waiting for my credit report to come in to check for anything out of the ordinary.

Also I just wanted to say thanks to all for the input.  It is much appreciated.

[Jlu]

If your balance is more than 30% of you're total limits then that is your probable cause for denial. Bringing these balances down will almost ensure you are successful in your next app. You can apply in 30 days.

[DeadSpider]

I don't think it's a balance issue my wife was approved for 10K for BCP and had $6500 balance on CITI.

You lack revolving credit apply for 1 or 2 credit cards let them report and try again.

Look for a credit card you might use and apply.

Discover is good to have and Chase Freedom.

[swpopham]

I would open a Chase sapphire prefered. Amex picks and chooses who they like or don't like. They love my wife and hate me. We confirmed that, her account was perfect forever and as soon as I was added as a joint owner, FRed over and over again. Until we closed our business and personal cards and moved 40k a month spending over to chase. No issues what so ever.

[Anonymous]

I considered the Chase Sapphire but I think that my second choice after the Blue Cash would be the Barclaycard Rewards.  How long does it take for a new card to begin reporting, and how long should I wait before reapplying?  

[Cdnewmanpac]

Easiest way to track what has posted is through credit karma, which is free. They use TU, which is generally the slowest to report. Once credit karma alerts you to a new account, it is a safe bet it is reporting on the other two. Be careful with Barclays. They are notorious for cancelling or reducing credit limits if you have a bunch of inquiries within 6 months AFTER approval. Chase freedom, discover more and citi forward all seem more inclined towards thin files lately. As to when to apply, you could try right after the new cards report, but with the denial reasons you got, 6 months is more likely. Edited to uncorrect autocorrect.

[espnjunkie]

I would recommend trying to pay off any outstanding balances in full before applying for a credit card. It's easy to overlook utilization, but creditors may see your application as desparation for additional credit when you are already carrying balances. Not saying that's the only reason for denial, but is a possibility

[SwampSystems]

I was denied when applying for my BCE, and I called the same day. When looking over my app they realized a zero was missing from my income. They fixed the app and I was approved instantly. Try calling and see if there is anything more they can do.

[LS2982]

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@Anonymous wrote:

I considered the Chase Sapphire but I think that my second choice after the Blue Cash would be the Barclaycard Rewards.  How long does it take for a new card to begin reporting, and how long should I wait before reapplying?  

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This is a very good product with Barclays and they give nice CL's. I would recommend them.

[webhopper]

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@OptimasPrime wrote:

Op I would pull your credit report from experian (or whoever amex put on your denial letter) to see what's going on. The denial reasons cited seem odd given your description of your credit history. 

Did you have a balance reporting on your wells Fargo card when you applied? If you had no balance reporting that could be a reason for the denial. for reference, a 1-9% balance reporting at the time of application would have been ideal.

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OP,  don't be discouraged...  Pay before your statement cuts on your BOA card, and apply again.  You may want to look at a charge product or a co-branded Amex, such as Costco or Hilton one, as the criteria can be easier to meet..

dont be discouraged!