AMEX-APPLIED-DENIED-RECON???

[Anonymous]

I need help from more experienced Credit Warriors.
Before applying for this card I have done about 4 months worth of research (and paying down balances) before finally pulling tha HP trigger.
On another forum I saw that the low approval score for this card was around 630. When I looked at my EX FICO8 score today it was up to 661 and figure that today was the day🙄🙄🙄.
Welp sad to say today is the day, just not my day.😭I was denied for the AMEX Everday card.
The reasons that were given for my denial were:
1. Collections - (This will be paid in full on 5/31 and the balance due has lowered due to making regular pymts on it.)
2. % of Revolving balance is too high. - (Oh the disrespect all of my cards I have paid down to below 20% with the exception of 2 which is currently at NFCU-77% and ValueCity -78%. 2/8 cards with a higher balance)
3. Short credit history - (Well duh I freaking 28 and I did get approved for my first credit card until about 3yrs ago hell I got my first apt in 2016 sheesh).
Needless to say unhappy with my denied status, I gathered my pride and called AMEX for a recon. Spoke with a really nice rep who said she would send my application to u/w. After reading quite a few forums about recons, I made sure to let her know the collections is being paid off, that though my CR shows 2 car loans only one is active due to refinancing, and that my reason for even applying was to have AMEX replace 4 of my others cards with lower limits. She adv that she would notate my application and I should hear back in 5 - 7 days. 🤨🤨🤨
So here I am, praying to the credit Gods to take pity upon me and just give me a chance.
Aside from the collections I have had a late/missed pymt in 3 years. Hell the only reason the one thing is in collection is because when I moved out of my apartment they said I owned about 1200.00 for various reason, but I could pay them the full amount at one time because I was tryin to close on a home my fiance and I had just built. (Not on my credit/VA loan).
So if anyone has any suggestions or may know of any tricks i beg of you please share your secrets with me. Thx in advance😉😉
I'm tryin to avoid a bunch of HP but I'm becoming impatient. I want a "grown-up" card.
Current Cards: SecDiscv-$500, Cap1QS-$1k, Cap1SecPlat-$500, MerrickBank-1.4k, NFCUGoRew-$5.2k, Credit1-$800, & ValueCityStore-$5k
FICO8 CS( for now) EX.661 - TU.658 - EQ.630

[Pikaboo-icu]

Greetings, Welcome to My Fico. 

The good news is: you're here seeking help and you're working on your credit profile.

Good for you.

That said; I think part of the problem is your uti. Your two highest limit cards have very high utilization. I realize the smaller limit cards are at 20% or below but the former are what's hurting you.

If the collection isn't paid off, that's an issue as well.

You did the recon and I'll keep my fingers crossed for you, however, don't be surprised if the answer is a no, for now.

Work on paying off the collection (perhaps send a good will letter asking for early deletion) and pay down the higher limit cards and you should have a positive outcome.

Good Luck.

CHEERS

[Jnbmom]

I agree the untilization is high on those 2 cards which will bring down your score. AMEX is a tough cookie they mostly listen well on the phone but don't do many recons at all

As far as "grown up card" I think your NFCU is a pretty decent card

[DangerNoodle]

Amex is definitely one of the most strict when it comes to collections/negatives on your report.

Couple that with a relatively short history and slightly worrying utilization, and you're denied.

I'd wait until the collection has been paid off and aged for a bit (honestly I'd wait the seven years out) before applying for Amex again.

Most important thing you can do in the meantime is lower your UTI to under 10%

[Anonymous]

To be honest I'm not really that hopeful about the recon, but I figured the worst they could do is tell me "no" twice. Thx for ur support. I'll be sure to update on the outcome.

[Anonymous]

I just figured with 6/8 cards below 20% and getting my total revolving% down from 78% to 45% in less than 6mths would have helped. I shall not be defeated though. My NFCU card I got l about 2.5 years when I was in a better CR position. Honestly I have no clue why they gave me a limit so high. Oh yeah I do they knew I was young and stupid lol.

[Anonymous]

Thanks for the advice. I'll try again when I'm about 35 or so. Who knows maybe I'll hit the lotto and then AMEX will pursue me. Jk I dont even play to win. Humor lessen the sting of rejection.

[Meanmchine]

Did you try their prequal page? You might be able to get approved for one of their charge cards (Green/Gold/Plat) It would give you your foot in the door

[DangerNoodle]

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@Meanmchine wrote:

Did you try their prequal page? You might be able to get approved for one of their charge cards (Green/Gold/Plat) It would give you your foot in the door

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Absolutely try their prequal tool. In my experience with Amex (and many others on here), if they say you're pre-approved, you'll pretty much be approved unless something changes between the time you're pre-approved and when you submit the application. If you're trying to rebuild credit after a collection though, I'd avoid their charge cards as they all carry annual fees.

If you want a "grown up card", try the Discover IT or a BankAmericard. You have a pretty decent shot at those. Discover is pretty generous with thin/bad credit. At least it's a step in the right direction if Amex is one of your goals. Good luck!

[Anonymous]

Thanks