Just hit the 61 day mark on my Amex EveryDay, and especially since it was just a 1K card I was really looking forward to a 3X CLI. Asked for it online, got the 7-10 day message. Called the CSR who confirmed denial and transferred me to credit dept. Didn't seem like an analyst, just read me what was on the letter: "Time with Amex too short; serious delinquency; not enough acct's paid as agreed; too many inquiries. EX score 677. Info as of 8/15."
I was bummed because none of these negatives are new since I opened the account, and in fact that EX score is higher than it was when I opened the account (672).
Right now I have 3 hard INQs (1 from Jan, 1 from May, and the Amex from July). I have 11 positive TLs and 3 negative TLs. Negatives are an unpaid C/O for 19k from 2010 (car repo), a paid C/O from 2010 (Verizon), and student loan lates from 2008-09. Again, all of this was on my CR when I originally applied, so it's a bit frustrating that Amex would say I can't grow with them - esp since this will all be on my report for another 2-3 years.
Any advice? Also FYI I have run about 2.5K of spend through this card since getting it, and balance is currently 0. I also have a Green card that I've run another 2K through, all up to date with an outstanding balance of $272 because I just booked a hotel, but payment on that isn't due till next month.
Thanks in advance for any input about how to get a CLI next time around.
Starting score 3/30/13: 570s across the board
@Jamex wrote:Just hit the 61 day mark on my Amex EveryDay, and especially since it was just a 1K card I was really looking forward to a 3X CLI. Asked for it online, got the 7-10 day message. Called the CSR who confirmed denial and transferred me to credit dept. Didn't seem like an analyst, just read me what was on the letter: "Time with Amex too short; serious delinquency; not enough acct's paid as agreed; too many inquiries. EX score 677. Info as of 8/15."
I was bummed because none of these negatives are new since I opened the account, and in fact that EX score is higher than it was when I opened the account (672).
Right now I have 3 hard INQs (1 from Jan, 1 from May, and the Amex from July). I have 11 positive TLs and 3 negative TLs. Negatives are an unpaid C/O for 19k from 2010 (car repo), a paid C/O from 2010 (Verizon), and student loan lates from 2008-09. Again, all of this was on my CR when I originally applied, so it's a bit frustrating that Amex would say I can't grow with them - esp since this will all be on my report for another 2-3 years.
Any advice? Also FYI I have run about 2.5K of spend through this card since getting it, and balance is currently 0. I also have a Green card that I've run another 2K through, all up to date with an outstanding balance of $272 because I just booked a hotel, but payment on that isn't due till next month.
Thanks in advance for any input about how to get a CLI next time around.
Work on getting the derogs removed ie PFD, GW letters. They aren't looking at your credit report after approval but your entire profile. Unfortunately, this is a situation where being approved may lock you into subpar terms (high apr, lack of clis) until you have more time since your derogs and credit has been reestablished.
Thanks for the quick and honest responses, I really appreciate it.
Totally understand that my profile still looks risky. I think what got me frustrated was that they actually gave me both of these cards on pretty attractive terms. The Green was a targeted offer with 25K MR points as a sign-up bonus, and the EveryDay came with 15K MR points - and they also gave me their lowest APR, 12.99% So that all got me thinking that I was the kind of customer they'd want to grow over time.
Obviously that's not the case, and I'll deal with that. Unfortunately that 19K C/O won't be going anywhere till December 2016 (since I can't afford to pay it off). I'll see if I can get Verizon to GW their paid CO and also see if I can get Nelnet to GW those lates. I'm guessing it'll be at least 90 days before enough has changed in my report to merit another try anyway.
In the meantime I'll see if Barclays is any more understanding when I ask them for a CLI this weekend.
Also remember it is 91days if your request was declined and 181days if approved. Three months will fly by. Just keep using and PIF and hey will get more and more comfortable with you!
06/26/2014 - Gardening until 7/1/15
I got denied with a 751 Exp score... not sure if that makes you feel better or not. 
Ha, Speedracer, thanks for the solidarity ;-)
Schadenfreude really isn't my thing, so I feel bad for both of us. Hope we can get some love the next time around!
I just realized that because the first reason listed was "Time with Amex too short," maybe I just jumped the gun on my 60 day calculation? On CK it says the account was opened on July 10, 2014, but that's also the day I actually applied and was approved, so maybe it wasn't technically "opened" for a couple days after that? I also saw that folks who are turned down for jumping the gun just get the same 7-10 day message.
I just tried again and once again got the 7-10 day message. I'll try one last time on Monday, and if it's still a no-go then I'll wait another 90 days. Would hate to miss out just because I'm not understanding how they calculate eligibility dates.
I also thought it was a bit weird that when I just chatted with a CSR online, he said he couldn't tell me the specific date it was opened, just month and year. They should be able to tell you the specific date, right?