Amex Denied

[Anonymous]

I am currently 20 years old I have had the Discover card for 10 months, I am trying to build a good foundation of cards for my credit. I have had the Discover card for 10 months, AND I am trying to build a good foundation of cards for my credit. I was accepted for the freedom unlimited as well as the citi thank you preferred this month. American express denied my BCE application. I have a total of six hard inquiries all being this month. I really want the BCE. How long should I wait to apply again? Main reasons for their decision: not enough credit cards (got two more to solve that), average age of credit, and too many recent inquiries. Look forward to the responses, thank you! TU:750, Equifax: 737, Experian:737

[Malcono]

You should wait at least 3 months, and probably more around 6 months.
Just use your cards you currently have responsibly and remember to always PIF.
Once your cards have aged a bit, and you've shown some responsible use, there's no reason you won't be approved in the future.
Good luck.

[Anonymous]

I would give it a year to be honest. I didn't get my AMEX until I had 2 years of credit history. Let the inquries become irrelevant and spend some time with that cards that you've been approved for and go for it again next summer. If you really need to try again you can wait 6 months but I say 1 year and you'll be more likely approved.

[Anonymous]

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@Anonymous wrote:
I am currently 20 years old I have had the Discover card for 10 months, I am trying to build a good foundation of cards for my credit. I have had the Discover card for 10 months, AND I am trying to build a good foundation of cards for my credit. I was accepted for the freedom unlimited as well as the citi thank you preferred this month. American express denied my BCE application. I have a total of six hard inquiries all being this month. I really want the BCE. How long should I wait to apply again? Main reasons for their decision: not enough credit cards (got two more to solve that), average age of credit, and too many recent inquiries. Look forward to the responses, thank you! TU:750, Equifax: 737, Experian:737

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Just be aware that any additional Amex apps for 90 days from the date of denial will be automatically rejected.  So at minimum you'll have to wait 3 months but I'd suggest waiting a year so that your scores are no longer penalized by the inquiries.

[xaximus]

I would suggest waiting for atleast 6 months minimum, if not a year. Your AAoA isn't that long, a large amount of inquiries in a short term and not sure of your usage (utilization, balances, etc. info not provided.)

Let your credit age a bit, show good spending and paying habits, don't hunt for credit as you dont want to get AA against you. You're doing amazing for your age, just give it some time and grow with it and better cards will come.

[Anonymous]

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@Anonymous wrote:
I am currently 20 years old I have had the Discover card for 10 months, I am trying to build a good foundation of cards for my credit. I have had the Discover card for 10 months, AND I am trying to build a good foundation of cards for my credit. I was accepted for the freedom unlimited as well as the citi thank you preferred this month. American express denied my BCE application. I have a total of six hard inquiries all being this month. I really want the BCE. How long should I wait to apply again? Main reasons for their decision: not enough credit cards (got two more to solve that), average age of credit, and too many recent inquiries. Look forward to the responses, thank you! TU:750, Equifax: 737, Experian:737

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Firstly, you can't app for another amex in the next 3 months else you'll be automatically rejected. As far as denial is concerned, the last 2 reasons you mentioned are probably the primary reasons for it. Let your acc age a bit and then app for one. Although, AMEX is not big on inquiries but your are pretty new which might have spooked them. Moreover, even if you would have been approved, the sl wouldn't have been great. So wait atleast 6 months or I would suggest a year before you app for new cards which is when you'll start seeing higher limits. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
I am currently 20 years old I have had the Discover card for 10 months, I am trying to build a good foundation of cards for my credit. I have had the Discover card for 10 months, AND I am trying to build a good foundation of cards for my credit. I was accepted for the freedom unlimited as well as the citi thank you preferred this month. American express denied my BCE application. I have a total of six hard inquiries all being this month. I really want the BCE. How long should I wait to apply again? Main reasons for their decision: not enough credit cards (got two more to solve that), average age of credit, and too many recent inquiries. Look forward to the responses, thank you! TU:750, Equifax: 737, Experian:737

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Just be aware that any additional Amex apps for 90 days from the date of denial will be automatically rejected.  So at minimum you'll have to wait 3 months but I'd suggest waiting a year so that your scores are no longer penalized by the inquiries.

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I’ve never heard about this. I do know that after a denial Amex requests 30 days for a new application, but I’m pretty sure people have been approved for a card within 3 months of a denial. Any data points to show that applications within 90 days of a denial are automatically rejected?

[Anonymous]

I would wait a few months before you apply since your AAoA will go down because you got 2 new cards this month. I'm sure you'll get approved in due time. I recently got the Amex BCE in Feburary and I had probably even a lower AAoA. Opened my first Discover card July 9th 2017, second card was Capital one - opened Oct 29th 2017, and then finally opened my Amex BCE account on Feb 1st 2018 .

[Anonymous]

All GREAT info here OP!

I think the main point was there in the denial letter from Amex... inquiries. Amex isn't known to be TOO inquiry sensitive, but since you have opened quite a few accounts recently before apping with them, that's probably what did it.

Fortunately for me, I apped with them first before my other cards so now I am able to get more cards with them on SP's.

As others have mentioned here, I'd wait more towards a year before apping with them again. That gives time for those accounts you do have to age a bit and the majority of those inquiries to die off or age as well.

Good luck! Update us back here if anything changes or when you do get approved.