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@ccoaston wrote:HERE IS THE REASON THEY SAY THEY DECLINED ME
Amount of credit available on accounts (Experian)
--Sounds like you have one low-ish limit card. AmEx likes seeing applicants with several cards with decent limits, handled successfully. This is the first-listed reason, so it's probably the most important.
High utilization of credit lines or insufficient utilization information (Experian)
--What balance shows up on your Cap One statement, and what is the CL? (not whether you pay it off after you get the statement)
In our estimation, the amount you have paid on your bank and retail credit card accounts over the last twelve months is too low. (Experian)
--Do you carry a balance on your card? Or do you have high balances report every month, even if you then pay them off?
Ratio of the highest account balance to the sum of the balances on all accounts (Experian)
--Cap One reported util (balance divided by CL) again
HAVE ONE CAPITAL ONE CARD AND MY STUDENT LOANS WHICH IM STILL IN SCHOOL. SO I DOTN HAVE TO PAY THEM YET.
FICO SCORE IS A 725!!! AS OF 6/30/2011
CAN ANYONE TELL ME WHATS GOING ON?
These are what jumped out at me.
Congrats on the Barclays approval!
@DI wrote:
@ccoaston wrote:I just immediately tried and it worked. Why are Barclay people so nice and willing to raise you credit right after they gave you a CL. I just told them that I want to purchase a more expensive apple computer and they immediately raised it
It worked with AMEX? Congrats!
I think he meant the recon with Barclays for an higher credit limit
Yea i meant AMEX....ok I have a capital one with $1000 CL that seems to be impossiable to get a limit increase. I got this card with a $300 limit in 08. And now i have a Barclay card with 3800. Should I try to manage one more card. Got declined from AMEX. Any suggestions on a card? Or should I just manage these for a good bit?
@ccoaston wrote:Yea i meant AMEX....ok I have a capital one with $1000 CL that seems to be impossiable to get a limit increase. I got this card with a $300 limit in 08. And now i have a Barclay card with 3800. Should I try to manage one more card. Got declined from AMEX. Any suggestions on a card? Or should I just manage these for a good bit?
I say stick with these two until you have at least 7 months of reported clean history on the Barclay's card (the newer one.) A year would be even better.
The longer you wait, the better of a deal you'll get when you do apply.
Thank you for the advise. I think im goign to just stick with what I have