Amex prequal and application

[janov]

Hello i wanted to ask for an advice for an american express application.

I've tried to apply 3 times in the last three months for amex for delta gold and amex everyday and i was always declined. 

They basically gave me the same answer every time: 

Our evaluation of the inquiries on your credit report based on the number, type and recency. (Experian)

Our evaluation of the accounts on your credit report based on the number, type, length of time opened, and credit risk level. (Experian)

The length of time is too short since the first credit card account on your credit report was opened. (Experian)

In our estimation, the amount you have paid on your bank and retail credit card accounts over the last twelve months is too low. (Experian)

Right now my oldest account is 1 year and 4 months and the newest is (sigh, **bleep** discover) 1 month, my last application was last month and everytime i had a prequal for the card on amex website. My inquiries was 17 and the first time i applied they were 3 if i remember right. My utilization is 7% and never get over the 10%, while my scores are experian 702 and transunion 712 no equifax report. 

In the last 6 months i've opened 4 accounts and i'm trying to get a travel card since i frequently travel from italy and i'll earn a lot of miles, my highest card is a BoA Cash reward with 2600 limit always paid in full more than once in month since i spend at least 6000$ every month but the limit is too low

I'm trying to understand what is bad on my report that everytime i got declined even with a prequal and what should i do to get in with amex.

Thank you for your help!

[Anonymous]

Our evaluation of the inquiries on your credit report based on the number, type and recency. (Experian)

Our evaluation of the accounts on your credit report based on the number, type, length of time opened, and credit risk level. (Experian)

The length of time is too short since the first credit card account on your credit report was opened. (Experian)

In our estimation, the amount you have paid on your bank and retail credit card accounts over the last twelve months is too low. (Experian)

Basically the issue is a thin file and too many apps.  Take a break from trying and use the ones you have for a year to purge the newness from your profile before trying again.  You're just wasting inquiries at this point for denial letters.

[janov]

so i can only wait, at least a year? i didn't think so long. It's not easy to get in these rewards system!

[Anonymous]

Applying monthly is never a good idea with any lender.  Credit takes a bit of time and effort to make it work for you instead of the other way around.

[Anonymous]

the general rule is to open not more than 1 card every 6 months.

you have opened 4 cards in 6 months, and have 17 inquiries. that's considered excessive.

some banks will punish excessive credit seeking behavior

[janov]

Sadly all the inquiries are for a business loan and i didn't realize they were going to pull me every single request for a quote. I've built up 10 inquiries in 2 weeks and it was my mistake i should have look for this forum before.

So it's better for me to stop and wait, any chance i can get any cli? I have to pay 3-4 for times per month my card to keep use it since the limit is too low! 

3 Months ago i've tried also to apply for a chase freedom. Never receive an inquiry neither a letter from them. it can be for the excessive inquiry? It's strange because i almost never recevie denial letters and for mostly of the lender neither an inquiry

[Anonymous]

If you're not getting letters or inquiries then your reports are locked or the info on the app isn't correct.

Any time you submit an app you should be seeing an inquiry and getting a letter whether it's an approval or denial.

As to the CLI option... BOA is strict with the 90 day time frame but, it's a SP so, if you miss it by a few days and try again yo'u're not doing any damage to your fragile CR.  Key info with BOA is to shoot for the stars when asking and let the computer counter back with the highest limit they're comfortable with.  Even when my CL was 10K I asked for 100K and the CLI's came back anywhere from 12K-18K/ea.... then I maxed out the CL they would give me finally and it's stuck where it is now unless I make more $$ 

[janov]

to be honest i think the problem was always with my equifax report, i've tried more than one time and if a lender is usal to pull EQ my application disappear.

I've tried to request a CLI but i've received the 7-10 days message, it's better to keep a small balance for few months? i've never had balance on that card but i have a 0% APR for 12 months more so i can do it if it helps

[grower1]

Spend some time in the garden, use and pay the cards you have. Let your accounts age and don't apply for any new credit or CLIs. That should help out a lot. 

[janov]

i will do that, and wait for some time. Thank you!