Just thought you guys might want to know:
I just applied for an AMEX Blue Cash Preferred and was declined. They based it on a Transunion score of 682 being too low.
I have a Target VISA CC already with a $5900 CL. I currently have a $0 balance showing on the credit reports but normally use it every month with it showing a small (less than 10%) balance.
I have perfect payment history on all my accounts except for a car loan I stupidly co-signed on for a friend. A lot of stupid stuff happened with that loan including a serious lack of communication on their part until the loan was so far behind I couldn't catch it up before they repo'd. That baddie will be gone in another 1.5 years.
I have various other installment loans. Some i am still paying on with a high utilization. (Is that what you call it for installment?)
My Equifax score is 708 after the AMEX app. I haven't applied for much credit lately, maybe one or 2 showing on my reports.
I don't think I'm going to aplpy for another CC right away because nothing else seems worth it for the way I use it.
Ugh, sorry about that. It's definitely a waiting game. Sorry about the repo too - it can be tough cosigning for people. Perhaps in 6 months or so they'll reconsider. Your balances (what are they?) will be lower and your baddies will be aged even moreso.
Aww... I'm sorry to hear abou the decline too. Have you tried a goodwill campaign for the repo?
I think that you'll be golden when that repo drops (possibly even before). Amex will be begging for your business then!
Friendly, Supportive & Respectful
"However gradual may be the growth of confidence, that of credit requires still more time to arrive at maturity” ~ Benjamin Disraeli