Hi hi 
I'm new here so bear with me!
20 years old, junior in college, decided to get it together and build my credit - but now I kinda wanna get in with Amex, especially since the BCE offer ends tomorrow!
Current cards:
Discover it chrome, $1k SL, opened in February. Last balance reported to EX as $90, PIF the next day.
Chase FU, $500 SL, also opened in February. Last balance reported as $0.
Right now, my EX file has 6% util, $90 revolving account balance.
Oldest age is 2 years 9 months (deferred student loan), AAoA is 1 year 1 month, latest open account is 3 months.
Current FICO scores are EQ 719, TU 726, EX 700.
EX score jumped 26 points since the 27th (?! not complaining!) so now that I'm at 700, I'm looking at applying for another Amex again.
Got denied for an ED on 3/26 (dunno why I tried applying, I wasn't even expecting to get approved) with an EX score of 672.
Their reasons for denial were listed as "length of time accounts have been established, too few established accounts or insufficient account information, the length of time is too short since the first account on your credit report was opened, amount of annual income listed on the application is insufficient or missing."
That time I listed my income as being around $10k (full time college student, mainly from parents), but after looking at all my finances I think this time I would put down like $14k, given that classes are about to end for the summer and I can get an actual job. I do get a yearly scholarship of $6k but it comes from the university and goes straight to my tuition, so I don't think that would apply here?
For what it's worth, both the NerdWallet and Creditcards.com cardmatch tool both say I'm "pre-qualified" for the EDP and PRG, and the cardmatch tool also offers me the Delta SkyMiles - but that's if I use my parents' address, where I haven't lived in coming up on 3 years; checking either site and the actual Amex site comes up with nothing if I use my current address where all my credit reports have listed as my primary address.
Anyone have any advice or think I might have a shot at getting accepted for a BCE, or any other Amex really, before the offer window closes? CreditKarma thinks I have a "very good" chance at approval, lol...
Sorry for the rant and my inexperience but all advice is appreciated!
I've updated your subject to reflect your approval; feel free to edit if you would like. --UB, myFICO Moderator
Sounds like the reason for your denial can only be fixed with time. What's the age of your oldest credit card?
Let time do it's thing. There will be other offers with any Amex card. They do like thin files. Keep paying in full and don't add retail cards.
@medicgrrl wrote:Sounds like the reason for your denial can only be fixed with time. What's the age of your oldest credit card?
I was honesly waiting for response to this post here before I actually appplied and now I really appreciate it right now! Thanks again guys
My ooldest getting approved for is a Discover it card, with absolutely zero history, and that was back in February! So, newest account is 3 months. I do have a deffered student loan from Auguat 2014, lthat shows up on my creddit reports as being paid, so my actual AAoA ia 1 year 9 months. I also don't have any negative remarks anywhere, fingers grossed I can keep it that way lol.
Going to say this next question in my reply to the other poster and my brain is DEAD right now iI really hope this is coherent), so sorry for double posting the same message: So, how much time would be good? I've read on a couple of online users saying they got in at 4 mnoths of credit history, but as always take with a grain of salt. I'll try to find those posts because they were in pretty similar situations.
Also, edit to add: what about one of their charge cards rather than their revolvers?
@Blackswizz750 wrote:
Let time do it's thing. There will be other offers with any Amex card. They do like thin files. Keep paying in full and don't add retail cards.
Dang it, i made a post and it deleted it for me, gotta start over with all this typing, sleep deprivation and )) again, sorry if this is incoherent... finals week woohoo1
Is there like... a quantized amount for thin files? I've heard that Amex doesn't like thin files Chase does, and vic versa. Luckily there's no negative marks on my report at the moment! And I also definitely agree on the waiting suggestion; I mainly want a BCE or ED for this summer for music festivals, and i guess the regular BC is still available too. It's okay with me if I can't somehow pan it out though.
Like I said earlier though - how much to wait? 3 months, 6 months? And sorry for the stupid question - but you said Amex likes to see paid in full. Like, for instance, charging up $400 out of a $500 and, letting the balance report to the bureaus, then paying that immediately. Orrrr, do you mean, just spending whatever on the card and continuously paying it back, leaving like $60 with a $1000 SL.
Also, edit to add: what about one of their charge cards rather than their revolvers?
@fltireguy wrote:
Op- you don't have any prequals in reality, the CARD act prohibits prequels, etc for people under 21. You probably show some suggestions though, that's what CK usually would show..
More than likely, you need another 6 months of history or so for the Amex.. give it some time, and then apply a little bit down the road!
I'm pretty sure I've actually opted in to the CARD act thing - you mean the website that looks like a relic of the ancient Internet but is actually working pretty well? If I check the Discover website I'm prequalified for something; and I actually got my CFU in-branch by just checking to see if I had any preapprovals under my name! Experian CreditWorks also actually shows some Amex cards under the "matched for you" filter - I know it's probably just marketing and advertising, but given that they usually check EX anyway...
Do you mean another 3 months for a total of 6 or a total of 9?
Thank you all again so glad I didn't waste a HP!
Also, edit to add: what about one of their charge cards rather than their revolvers?
@fltireguy wrote:
Op- you don't have any prequals in reality, the CARD act prohibits prequels, etc for people under 21. You probably show some suggestions though, that's what CK usually would show..
More than likely, you need another 6 months of history or so for the Amex.. give it some time, and then apply a little bit down the road!
I think your wrong becuase i'm 20 and I have prequals offer from amex !!
Keep in mind the denial reasons are just reasons. I got denied this time last year for reasons that are still on my credit now. I got 2 AMEX cards last week with a 698. So, I am a firm believer that if your score is high enough, they overlook whats in your file. I mean they told me I had too many new accounts at my first denial. I have even more new acconts now and I still got in. With your FICO of 700 I would go for it. If you get one, app another once your account is setup online. It will fall under the same HP. This is of course, my opion. Good luck either way.