Amex.. denied for all but one?

[Anonymous]

I heard that Amex allows multiple apps for various cards.

So I app'd for Gold Delta Skymiles.. Approved.

Blue Cash Everyday.. Denied.

Everyday.. Denied..

Gold Charge.. Denied.

Then I read something about having to wait 5 days in between apps.. true or false?

Can they revoke my approval for the Gold Delta Skymiles if I submit too many apps?

Do I have a better chance of obtaining a second card if I apply for a business card? I own my own business (S-corp, est. 2 years, ~$150k gross annual)

[Anonymous]

I believe it's that you cannot apply for 2 revolvers within 5 days.  You are able to apply for one revolver and one charge card in the same day. 

[Anonymous]

You were approved for a co-branded card but turned down for the Amex issued cards.  So the first place to look it at your credit scores; specifically your Experian FICO 8 score.  Do you know what it is?

[Anonymous]

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@Anonymouswrote:

You were approved for a co-branded card but turned down for the Amex issued cards.  So the first place to look it at your credit scores; specifically your Experian FICO 8 score.  Do you know what it is?

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657

[Anonymous]

Your credit score is where the problem lies.  Amex typically looks for EX FICO scores of at least 670 for their cards.  While they do approve with scores as low as 640 you would only get a $500 or $1000 starting limit and conditions usually described in these forums as "credit steps."  The co-branded card was approved because the underwriting standards are less stringent than for the Amex issued cards.

I would suggest using your Gold Delta Skymiles as much as you can, and paying in full each month if possible to establish a postive payment history with Amex.  Then in 90-180 days reapply for one of the Amex cards; hopefully your scores would have improved in that time.  Also, I would address whatever derogatories or "baddies" are on your credit reports and have them fixed/removed.

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@Anonymouswrote:

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@Anonymouswrote:

You were approved for a co-branded card but turned down for the Amex issued cards.  So the first place to look it at your credit scores; specifically your Experian FICO 8 score.  Do you know what it is?

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657

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[Shadowfactor]

Do not apply for any more Amex cards for 30 days. There’s absolutely no point and you are just burning hardpulls if you do them on different days.

Amex has a policy of denying any further credit apps if a customer has been denied credit in the past 30 days.

You should have done the Delta Gold then PRG right after each other if you wanted those two cards. You probably would have been approved for those two.

Amex ED and BCE are harder to get.

[Anonymous]

Read the OP's recent comment history, especially this comment: Bank of America Partial Secured - Should I Apply?

The 657 score stated above is not even an Experian score; it appears to be from TU, and EX score might be below 600.  So the Amex denials are definitely score related and not because of the frequency of apps although its obvious that the OP is "actively seeking credit" which in itself is grounds for denial.

[Shadowfactor]

I’m guessing you mean Experian not Equifax. As EQ doesn’t matter with Amex unless EX was frozen.

I haven’t had a chance to read through that thread you posted. I will take a look at it.

But with a low EX score. Close to 600. I could see getting the delta gold but nothing else. I got approved for the delta Gold at 610

Either way, score or app’ing after denial. Amex isn’t looking to issue any further credit and OP should not app anymore.

[Shadowfactor]

Read through that thread you linked too.

With the OP having a 629 EX score from discover score card. He was lucky he made the Delta Gold card.

OP. You need to garden for atleast a year, two would be preferred. You opened several new accounts in 2017. With your recent chase and Amex approvals. You got some good starter but still prime lender cards.

Let those grow. Your going to start spooking lenders with actively seeking too
Much credit esp during your rebuild.
Let the denials show that you still have some work to do. Garden, PIF and on time. By this time next year, you will see a great score boost.

[Anonymous]

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@Anonymouswrote:

Your credit score is where the problem lies.  Amex typically looks for EX FICO scores of at least 670 for their cards.  While they do approve with scores as low as 640 you would only get a $500 or $1000 starting limit and conditions usually described in these forums as "credit steps."  The co-branded card was approved because the underwriting standards are less stringent than for the Amex issued cards.

I would suggest using your Gold Delta Skymiles as much as you can, and paying in full each month if possible to establish a postive payment history with Amex.  Then in 90-180 days reapply for one of the Amex cards; hopefully your scores would have improved in that time.  Also, I would address whatever derogatories or "baddies" are on your credit reports and have them fixed/removed.

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@Anonymouswrote:

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@Anonymouswrote:

You were approved for a co-branded card but turned down for the Amex issued cards.  So the first place to look it at your credit scores; specifically your Experian FICO 8 score.  Do you know what it is?

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657

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Thank you for the positive input. I've always thought that running up a hefty balance and paying in full as soon as the charges post and always make sure balance is just above $0 at least 3 days before statement cuts was the way to go. I've been reading here these past couple days since I've joined that this is NOT the way to go with certain cards. I have a whole lot to learn. I was just a casual surfer for years but since I've started posting here, I've been getting a lot of feedback.. some reassuring like yours.. some that make me feel downright stupid :-(

What I've been doing ever since I landed the Capital One Secured 3 years ago was to charge up say 75% of my limit, pay it off.. if need be, do so 2-3 times each month, but always pay down to around $10-20 max to let the statement show something so they definitely report. As I've acquired new cards, I've started rotating this behavior.. one month I'll charge up my Cap One and pay it off once or twice.. next month my Credit One.. next month my FNCC/Legacy.. That way they each see good usage, but not consistent every month.. Not sure if this is a good strategy, and definitely have a lot to learn, so I'd love anyones input.

I never let my overall utilization exceed 10% for any reporting period, so my CRs never show more than 10%. This average only comes from me leaving that $10-20 on each card each month to report. I've got some rather detestable low-limit cards, so $20 is 10% on some. I try to leave like $5 or less on those.

I'd appreciate any tips on how to utilize / manage the Chase Freedom Unlimited and the Amex Gold Delta Rewards, and if anyone has any constructive criticism / advice on how I'm using the rest of my credit, I'd take that too!

Thank you guys. I really appreciate you so much.

Oh and P.S. I have 9-1/2 years of positive credit history, all with 100% on time payment history. 197 on-time payments according to Credit Karma! I like to think that's a good thing, no?