CC Denial interesting reason

[Anonymous]

I haven't applied for a new CC lately, so I decided to test the waters with AMEX.  They denied me, FICO 706, and one of the reasons listed is below:

"The amount of credit available on your bank credit card account with the least credit available is too low (Experian)"

All of my credit cards are paid off except for one Synchrony Home account (had to get a new air conditioning system earlier in the year).  However, I have two old MC CC accounts with $300 CL that I keep for their account age.  My other cards are mostly departement/store chard cards with much higher limits, average about $4000.  Should I drop those two CCs or keep them open???  Thanks for the input!

[GApeachy]

I'd keep all open and pay down the air conditioner acct.  Wait for the newest, lowest balance on it to report and try again.  Or wait until the a/c is pd. off completely and reported as such.

[GApeachy]

Sorry, forgot to ask...have you tried for a cli on the $300 card(s)?

[Anonymous]

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@GApeachy wrote:

Sorry, forgot to ask...have you tried for a cli on the $300 card(s)?

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I was going to say the same thing.  If they are aged cards and you have others with bigger limits it could be quite easy to obtain CLIs on them.

[Anonymous]

Unfortunately, these cards offer NO CLI path whatsoever (Indigo and Milestone, I beleive Genesis bank?).  

[Anonymous]

Interesting.  I'm not familiar with either.  How about a potential to PC them to a different product and perhaps the different product would have CLI potential at some point?

[1GaDawg85]

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@Anonymous wrote:

Unfortunately, these cards offer NO CLI path whatsoever (Indigo and Milestone, I beleive Genesis bank?).  

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I would drop both as they continue reporting on your file for 10 years and get some more friendlier credit cards in your lineup 

[OmarGB9]

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@Anonymous wrote:

Interesting.  I'm not familiar with either.  How about a potential to PC them to a different product and perhaps the different product would have CLI potential at some point?

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Those are sub-sub prime cards. There are no PC options.

[Harvey26]

@Anonymous I got denied for Amex today due to not having a 750 or better score. My EX score is 748. I would look into discover prequalify or even chase or your primary bank.

[OmarGB9]

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@Harvey26 wrote:

@Anonymous I got denied for Amex today due to not having a 750 or better score. My EX score is 748. I would look into discover prequalify or even chase or your primary bank.

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You don't need a 750 score to get an Amex. There are plenty of DPs on the forums of people getting approved with scores in the 640+ range. Also, score isn't all they look at, nor would they deny you solely based on score. They look at your credit file as a whole, and make a decision based on that.