1.5.20 I got a call they approved it granted it's another $500 CL but I'll take it!
Happy New Year.
I applied a few days ago and was denied and immediately called the recon line. They said I had a thin file which is inaccurate and too many inquiries. I got the CFU In Oct 2020 ($500) and the Discover It ($4500) on the same day. My last open account before that was Care Credit in January 2018 ($1800). I have not applied for or opened any CC after CareCredit except for Chase & Discover.
I think the issue is because Amex isn’t showing in my credit reports. I told the Chase recon agent that I've been with Chase Optima since 2001 ($800) I now know that was way too long. She says she didn't see it on my report. When I called the Amex credit bureau line they swear they are sending it.
But when I look on my report it isn't listed under my credit card accounts, but shows under inquiries. Also my credit limit totals don't accurately reflect the CL I have with Optima.
I did end up applying for Amex Cash Magnet the next day and was approved for a $1,000 CL. So maybe that will solve the issue? 🤷🏻♀️
I’ll call the three Bureaus after the holiday to see what's is going on. And then call chase recon again because I was trying to get the secon card before the 5x grocery bonus expires. Otherwise I'm at a loss. Help.
Scores as of 1.1.21
Experian: 729
Tran union: 748
Equifax: 757
Hi & welcome to the forums!
So you've had the Amex Optima card since 2001 but it's not appearing on your credit reports? Is the Optima still an open/active account, or was it closed at some point? If closed, it's possible it has been purged from your reports (closed accounts typically only remain on reports for up to 10 years after the closing date).
@BrooklynDrip wrote:
But when I look on my report it isn't listed under my credit card accounts, but shows under inquiries.
An inquiry from an account opened in 2001 would no longer show on your reports. Inquiries are removed after 2 years.
@BrooklynDrip wrote:
I did end up apply for Amex Cash Magnet the next day and was approved for a $1,000 CL. So maybe that will solve the issue? 🤷🏻♀️
I’ll call the three Bureaus after the holiday to see what's is going on. And then call chase recon again because I was trying to get the secon card before the 5x grocery bonus expires. Otherwise I'm at a loss. Help.
A new account reporting won't resolve the issue of the old account not reporting. And calling the bureaus won't help you either, they'll just refer you back to Amex. If the Optima account is still open and active, then your best bet is to get in contact with Amex's credit reporting dept. (probably best to contact by mail) and request that they re-report the account to all 3 bureaus.
I'm sorry for your Chase denial (but congrats on the Amex Magnet!). You only have 3 other cards - two of which were just opened, is that right? Do you have any active loans reporting on your credit reports? Sometimes, the absence of loans combined with a limited or young credit history will lead lenders to deem your file as "thin". You may need to wait and allow your accounts to age - at least til they hit their 6 month mark - and try for this card again in the future.
@thornback The account is still active I paid off my balance in July/August.
When I referred to an inquiries I meant Amex did a soft inquiry on 8/16/20.
The average age my accounts is 19 years
years per Chases own Credit Journey. My school loans are paid on time over 300 months. I've had them since the 90s.
I think your right I have write Amex something is off. Thanks for the response.
@randomguy1 You're right I did barely squeeze by the first time 🤦🏽♀️. Ok I'll re apply much later on.
My immediate plan is to start using my Amex card more heavily. Since they are trust me with a higher but still low CL, I'm not going to use my CFU as much. I've put almost $2500 on them since it was my primary card but always made multiple payments a month and kept my reported CUR with them under 10%. So I think that's part of why I was disappointed. I felt like I was showing that I can handle more and making my payments.
@BrooklynDrip wrote:@thornback The account is still active I paid off my balance in July/August.
When I referred to an inquiries I meant Amex did a soft inquiry on 8/16/20.
The average age my accounts is 19 years
years per Chases own Credit Journey. My school loans are paid on time over 300 months. I've had them since the 90s.
I think your right I have write Amex something is off. Thanks for the response.
Interesting. So you actually have a long installment loan history and short revolving account history (since the Optima isn't appearing on your reports).
Is there anything negative on your reports (old late payments, collection, etc.)?
I don't believe a "thin" file is the real reason for the Chase denial -- they just didn't feel comfortable extending additional credit to you at this time - for whatever reason and could simply be the young age of your revolving accounts.
I'd definitely reach out to Amex about getting the Optima to report, but aside from that, just allow your two newest revolvers age a bit.
@thornback wrote:
@BrooklynDrip wrote:@thornback The account is still active I paid off my balance in July/August.
When I referred to an inquiries I meant Amex did a soft inquiry on 8/16/20.
The average age my accounts is 19 years
years per Chases own Credit Journey. My school loans are paid on time over 300 months. I've had them since the 90s.
I think your right I have write Amex something is off. Thanks for the response.
Interesting. So you actually have a long installment loan history and short revolving account history (since the Optima isn't appearing on your reports).
Is there anything negative on your reports (old late payments, collection, etc.)?
I don't believe a "thin" file is the real reason for the Chase denial -- they just didn't feel comfortable extending additional credit to you at this time - for whatever reason and could simply be the young age of your revolving accounts.
I'd definitely reach out to Amex about getting the Optima to report, but aside from that, just allow your two newest revolvers age a bit.
I used to have 3 late payments. I wrote goodwill letters and got two of them removed. The single remaining late payment is from 2-3 years ago. There are no collections. I agree with you, they simply weren't comfortable. My priority now is to investigate why Amex isn't reporting.
@BrooklynDrip wrote:I used to have 3 late payments. I wrote goodwill letters and got two of them removed. The single remaining late payment is from 2-3 years ago. There are collections. I agree with you, they simply weren't comfortable. My priority now is to investigate why Amex isn't reporting.
Nice work getting 2 out of the 3 lates removed. I'm going to guess the collections are true culprit here with the denial. Any efforts made towards getting those removed as well? Are they paid?
@thornback wrote:
@BrooklynDrip wrote:I used to have 3 late payments. I wrote goodwill letters and got two of them removed. The single remaining late payment is from 2-3 years ago. There are collections. I agree with you, they simply weren't comfortable. My priority now is to investigate why Amex isn't reporting.
Nice work getting 2 out of the 3 lates removed. I'm going to guess the collections are true culprit here with the denial. Any efforts made towards getting those removed as well? Are they paid?
Sorry that was a typo. There isn't any collections. To your original point, since Amex wasn't reported, technically I only had almost 3 months of new revolving accounts, so it's reasonable that they were ambivalent.
@BrooklynDrip wrote:Sorry that was a typo. There isn't any collections.
haha... ok well scratch that theory then... we're back to just the young age of your revolving accounts.