AMEX 61 Day increase DENIED
11-08-2012 04:56 PM
I often see posts about approvals, so for balance I wanted to post about my denial.
Back in early September I had a very successful app spree that added 5 new prime cards to my credit file and tripled my available credit.
One of the cards was an AMEX (vanilla) Blue for $3000. I had requested $7000 in hopes that they would counter it and at least give me $5000, but instead I got the dreaded "7-10 day" message.
When I last checked my REAL FICO scores back in October, they were all in the 705-725 range. I imagine that I have a high internal risk score with AMEX though as I've barely run $100 through the card (I've been using my other new cards because they give me cash back, have better rewards than useless MRE points, and have great sign on bonuses).
I plan to run a few hundred more dollars through the card before I convert it to a BCE so that I can get the signon bonus, then I'll use it heavily for the cash back.
I'm hoping to get a CSP in the first quarter of 2013, but now I'm a little worried as my highest limit is $4000 (US Bank) and I've heard that Chase likes to see you have an account with $5K+ to get a CSP approval.
I'm not upset as I'm not a credit addict. I just saw this as the easiest opportunity to get over the $5,000 limit hump.