topic Re: DENIED Amex CLI--And that's ok in Credit Cards

DENIED Amex CLI--And that's ok

lhcole77 — Fri, 09 Aug 2013 22:17:37 GMT

So, I got denied. But I'm ok with it. And the reasons seem valid.

Even with a 750 EX FICO score and under 10% UTL some of the reasons cited were:

Too short of history (18 mos of credit card history)
Too many INQ in 12 mo period (opened City and Barclay's weeks after Amex)

I've gone from scores in the 550s and 560s in 2009 to where I'm at in 2013. Very grateful for that. And the truth is only one of my cards is 18 mos old, while the four others are under 2 mos.

This was a great learning opportunity for me. I am grateful for what I have now (almost 25K in CL when I had $0 back in 2011). And I am excited about building my profile even thicker and better for the future.

This eager beaver is gonna take a nap (aka garden)! Okurrrr?!?!

Re: DENIED Amex CLI--And that's ok

Luscher — Fri, 09 Aug 2013 22:19:11 GMT

whats your limit and what were you trying for? also whats your income?

Re: DENIED Amex CLI--And that's ok

lhcole77 — Fri, 09 Aug 2013 22:59:02 GMT

Current CL is $9,500. Asked for additional $7,500. Income is in $40K-$50K bracket (until after I get my degree)

Re: DENIED Amex CLI--And that's ok

djc1puno — Fri, 09 Aug 2013 23:05:09 GMT

At least you know why and can try again in 3 months

Re: DENIED Amex CLI--And that's ok

lhcole77 — Fri, 09 Aug 2013 23:08:38 GMT

@djc1puno wrote:
At least you know why and can try again in 3 months

Uh huh and Mmmmhmmmm

Re: DENIED Amex CLI--And that's ok

myjourney — Fri, 09 Aug 2013 23:30:23 GMT

Sorry to hear

You have done well and can always try again

And CLI's are SP's so no harm learning experience

Re: DENIED Amex CLI--And that's ok

lhcole77 — Fri, 09 Aug 2013 23:34:06 GMT

@myjourney wrote:
Sorry to hear
You have done well and can always try again
And CLI's are SP's so no harm learning experience

Thanks journey! I agree. This is a great learning experience.

Re: DENIED Amex CLI--And that's ok

thom02099 — Sat, 10 Aug 2013 00:46:13 GMT

@lhcole77 wrote:
So, I got denied. But I'm ok with it. And the reasons seem valid.

Even with a 750 EX FICO score and under 10% UTL some of the reasons cited were:

Too short of history (18 mos of credit card history)
Too many INQ in 12 mo period (opened City and Barclay's weeks after Amex)
I've gone from scores in the 550s and 560s in 2009 to where I'm at in 2013. Very grateful for that. And the truth is only one of my cards is 18 mos old, while the four others are under 2 mos.

This was a great learning opportunity for me. I am grateful for what I have now (almost 25K in CL when I had $0 back in 2011). And I am excited about building my profile even thicker and better for the future.

This eager beaver is gonna take a nap (aka garden)! Okurrrr?!?!

Lesson learned! Good on you for remaining optimistic! Yup, you can try again, there's always that "tomorrow".

I sorta/kinda left the Garden for a CLI request on my Clear. At $10K, tried for increase to $18K, was denied, also because of too many inquiries. I know, the itch got the better of me, but it was a SP on the denial. And inquiries fall off.

For both of us, patience is a virtue ! !

Re: DENIED Amex CLI--And that's ok

Anonymous — Sat, 10 Aug 2013 03:15:52 GMT

Sorry for the denial! I read your other thread about forgetting your card at home and I was rooting for you.

Next time!

Re: DENIED Amex CLI--And that's ok

lhcole77 — Sat, 10 Aug 2013 04:57:12 GMT

Amen! @thom

Awomen! @Lexie

Re: DENIED Amex CLI--And that's ok

Anonymous — Sat, 10 Aug 2013 05:13:07 GMT

@lhcole77 wrote:
Current CL is $9,500. Asked for additional $7,500. Income is in $40K-$50K bracket (until after I get my degree)

lhcole77,

Mind me asking if you were PIFing on that AMEX card? Also, if you were PIFing, then at the time of app, how did your account balance look on it (whether it was due or not).

Thanks

Re: DENIED Amex CLI--And that's ok

lhcole77 — Sat, 10 Aug 2013 17:00:52 GMT

I had two statements cut. Both for around $850. PIF on both. Had $620 current charges for the month at time of request.

Re: DENIED Amex CLI--And that's ok

Anonymous — Sat, 10 Aug 2013 17:35:16 GMT

@lhcole77 wrote:
I had two statements cut. Both for around $850. PIF on both. Had $620 current charges for the month at time of request.

Well that is bizarre. Have you called the CLI department to recon? You can do that with AMEX.

Re: DENIED Amex CLI--And that's ok

lhcole77 — Sat, 10 Aug 2013 17:45:09 GMT

I actually don't want to recon because their decision is valid.

I've opened 4 new cards in the last 2 mos. My other card is only 18 mos. old. They didn't give me the increase because my cc file is young (even with a 750 score).

They gave me a great starting 9.5K CL. I know that'll grow in time.

Re: DENIED Amex CLI--And that's ok

Anonymous — Sat, 10 Aug 2013 20:15:12 GMT

You have a good score and once your seedlings age higher credit limits would be granted. You got a good starting credit limit which might be the reason for decline by Amex. I would suggest waiting for atleast 4 months before applying for a credit limit increase.

Re: DENIED Amex CLI--And that's ok

joshuapd1987 — Sun, 11 Aug 2013 23:56:21 GMT

Hi, lhcole77! Love your attitude. Very cool!

Mind if I ask how many inqs you had?

Re: DENIED Amex CLI--And that's ok

Luscher — Mon, 12 Aug 2013 00:31:54 GMT

how is your income so high while still getting a degree? and they havnt asked for tax documents?