topic Re: Declined in Credit Cards

Declined

Anonymous — Sat, 03 Dec 2011 20:00:42 GMT

Hello,

I just applied for an Amex Preferred and was decline. I have a 749 credit score and would like to know if any other amex cards would be granted to me.

Thank you,

02138

Re: Declined

tntexans72 — Sat, 03 Dec 2011 20:02:04 GMT

What is your AAoA? Any baddies? Did they HP your EX? What was their reason(s) for declined? Sorry to hear.......

Re: Declined

Anonymous — Sat, 03 Dec 2011 20:05:36 GMT

@Anonymous wrote:
Hello,
I just applied for an Amex Preferred and was decline. I have a 749 credit score and would like to know if any other amex cards would be granted to me.

Thank you,
02138

Same questions as previous poster, as well as where did you get that 749 score? There are many options out there and I'm sure we can, collectively, help you find something to suit your taste and situation.

Re: Declined

Anonymous — Sat, 03 Dec 2011 20:06:07 GMT

Hello,

Thank you for responding. I am very sorry but don't understand any of the abreviations in your message. I was informed instantly, I believe I have to wait to see exactly why I was decline.

Re: Declined

Anonymous — Sat, 03 Dec 2011 20:10:58 GMT

@tntexans72 wrote:
What is your AAoA? Any baddies? Did they HP your EX? What was their reason(s) for declined? Sorry to hear.......

AAoA = Average Age of Accounts. your total credit history divided by how long you have had each account. Can be some tricky math, but if you pull your credit score it should be calculated for you. Longer is better.

Baddies = derogatory marks on credit history... late payments, repossessions, bankruptcies, etc.

HP = hard pull, a credit inquiry

EX = Experian... the credit bureau American Express usually pulls credit reports from to evaluate a credit application

Re: Declined

Anonymous — Sat, 03 Dec 2011 20:10:59 GMT

That's great news, thank you. I received my score from FICO - my Experian report is also in to 700's - I pay my balances at the end of each month so I thought the flexibility and cash back advantages were best through an Amex. :-/

Re: Declined

Anonymous — Sat, 03 Dec 2011 20:18:12 GMT

Ah, baddies, yes. late payment from 2006... no HP, Experian is in the 700's, and as for my AAoA, I have one other credit card which I have begun to use more frequently as I was told that was a good thing. I did notice postings to my credit report that have nothing to do with me that required a lawyer to resolve, but could that be a factor?

Re: Declined

tntexans72 — Sat, 03 Dec 2011 20:51:08 GMT

@Anonymous wrote:
Ah, baddies, yes. late payment from 2006... no HP, Experian is in the 700's, and as for my AAoA, I have one other credit card which I have begun to use more frequently as I was told that was a good thing. I did notice postings to my credit report that have nothing to do with me that required a lawyer to resolve, but could that be a factor?

Sounds like you have a very short credit history base on your description. Amex likes to see at least 2yrs and they also want to see other revolving credit line open too. They are a prime lender and they generally want ppl with a clean report.... Although others have gotten their starter card like a Amex Zinc. If you have marks on your credit report, you may want try to get that clean up first than reapply in 6 months. Sometimes credit score is not the overall picture, your credit history, timely payments, etc....also plays a big factor in approval.

GL.

Re: Declined

MarineVietVet — Sat, 03 Dec 2011 23:24:14 GMT

@Anonymous wrote:
Hello,
Thank you for responding. I am very sorry but don't understand any of the abreviations in your message. I was informed instantly, I believe I have to wait to see exactly why I was decline.

Welcome. Here is a list of Abbreviations.

Re: Declined

Red1Blue — Sat, 03 Dec 2011 23:27:43 GMT

Best bet to start with Amex is to apply for their Zync card and start building relationship and then move up. I would say wait for 30 days and apply for the Zync Card. I am sure you'll get it. I have read so many posts that they got the cards with $500 Hard CL and some of them with automatic payment agreement. That is the best route to start building relationship with Amex, if you are not sure which way to start.

Re: Declined

Anonymous — Sun, 04 Dec 2011 16:43:12 GMT

Thank you! That's a great idea!

02138

Re: Declined

Anonymous — Sun, 04 Dec 2011 16:48:33 GMT

Thank you,

Everything you assumed is correct. My credit history is long but I rarely use my cards and I have only one card at that. I will work to have those two bad marks removed and then reapply. Thanks again,

02138