Amex 3x CLI denial

[elleng81]

I was denied my 3x CLI this week... for my FICO score. It said that it was 676, which believe it or not is actually a few points higher than when I applied in December! The only thing that has changed is that my mortgage is now reporting and I opened an Ashley Furniture store card that is carrying a balance (0% interest promotion). My NFCU limit was actually raised to 10k (from 4.5k) so my utilization is actually lower. I do have a few more inquiries from purchasing a car last week but the loan hasn't hit and my car loan that I had before is still showing as open with a balance (traded the car in). Oh well, I shall be patient and hope for an increase eventually.

[newmomnewme]

Congrats on the mortgage!!!! Sorry about the denial. You can try again in 6 months right?  

I am assuming the same will happen to me....I just opened two Amex a few days ago. Right after, I tried Chase Slate; denied...then refinanced my auto loan today and a student loan was disbursed a few days ago and isn't reporting. So in 2 months, I will have an additional inq on EX and 2 new installment loan TL reporting. 

[Kenny]

It's actually 90 days from denial!

Good luck! You'll get 'em next time!

[Networth]

They are also looking at your debt/income. You said you just got a mortage so even though thats "good debt" its still debt. The new car loan may not be posted but the inquiries for the auto loan may have so, they can assume your getting/have gotten a new auto loan. I would keep your Util at 0-3%, pay your Amex in full, and let the auto loan post and show a few payments. 90 days give it another shot, best of luck. 

[Transmogrifying_Bee]

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@elleng81 wrote:

I was denied my 3x CLI this week... for my FICO score. It said that it was 676, which believe it or not is actually a few points higher than when I applied in December! The only thing that has changed is that my mortgage is now reporting and I opened an Ashley Furniture store card that is carrying a balance (0% interest promotion). My NFCU limit was actually raised to 10k (from 4.5k) so my utilization is actually lower. I do have a few more inquiries from purchasing a car last week but the loan hasn't hit and my car loan that I had before is still showing as open with a balance (traded the car in). Oh well, I shall be patient and hope for an increase eventually.

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PATIENCE is certainly the key to future growth with Amex!  I'm guessing that once Amex gets to know you better over time, coupled with the higher CL for your NFCU card, you'll be seeing CLI's within the next few X3 attempts!

[370Z]

Amex places a lot of emphasis on debt-to-income. It appears they reject all CLI attempts until the DTI level is significantly reduced.

[yudeology101]

Sorry for the denial, OP.  I got shot down last month but my UTIl raised up from 1% to 18% (from holiday shopping) and I think that's one of the reasons why i was denied.  90days is not too far off, I'm gonna try again in April.  Best of luck to you.