I'm sorry to hear about your denial. Disappointing! Unfortunately, there really is nothing you can do but to hang back and garden for a while. 
Your utility is good. I think if you gave it another 6 months or more and if no baddies crop up, you shouldn't have any problems. 6 months seems like forever... but it actually passes pretty quickly. I had to put everything on hold for 6 months after I got Barclays. I know the feeling. 
Starting Score: 642
@improvingmycredit wrote:I'm sorry to hear about your denial. Disappointing! Unfortunately, there really is nothing you can do but to hang back and garden for a while.
it feels like a lifetime i have a barclays card as well.. now that i have it.. i have no clue why i got it. i dont want it!
Ha-Ha... I know what you mean. I got the card to buy a Mac. Bought the Mac but used my Amex card instead for the MR points. It sits in the SD. Oh well, it's another tradeline on the CR since I already took the hit for it. I'm gonna leave mine open till they close it or let me PC it to another rewards card.
You've done so well with your credit... 6 months will be a breeze for you.
Yep I can vouch for how well 6 months of gardening will do.
Last summer I applied for a capital one no hassle cash rewards card. 500 CL since I had already been denied for 2 other cards BoA cash rewards and Citi Forward.
I waited 6 months, paying on time, no inquiries, and now I have a Discover more 5,500 CL and Chase Mileage plus Explorer 6,200 CL.
It may seem like a long time but trust me it pays to garden.
@Juan123 wrote:i posted a thread about possiblities of a revolver... turns out i dont even qualify for a charge card. sigh.
This is what a new account specialist told me;
1. Apparently i shouldn't of applied again for the zync since its only been 30 days, he said to wait atleast 90 days.. He sent me an email for the reasons i was declined here they are;
We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On February 28, 2012, your FICO score was 694. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:
Length of time accounts have been established.
Too many inquiries last 12 months.
Proportion of loan balances to loan amounts is too high.
Proportion of revolving balances to revolving credit limits is too high.
One thing i don't understand is the revolving balances to limit is too high.... since my util is 8% and only a balance on 2 cards my citibank card with 10% util and my capital one card with 6% util.....
Then the balances on loan... the loans aren't in repayment yet but apparently its partially a reason why i got declined...... Too many inq's in last 12months... i guess 8 (2 being amex) is too many.
and my AAoA is too low... nothing i can do about that..
So what do you guys think i should do? I Thought with my score at right below 700 i'd qualify just on that.. but i guess not.
Sorry to hear Juan.....
Might do you some good to get into the garden and fix your AAoA, INQ problem then try them again in 2013!
@Anonymous wrote:Yep I can vouch for how well 6 months of gardening will do.
Last summer I applied for a capital one no hassle cash rewards card. 500 CL since I had already been denied for 2 other cards BoA cash rewards and Citi Forward.
I waited 6 months, paying on time, no inquiries, and now I have a Discover more 5,500 CL and Chase Mileage plus Explorer 6,200 CL.
It may seem like a long time but trust me it pays to garden.
+1
Juan123;
I applied for ZYNC last spring, mid April. Was offered the hard limit online but when I went to click one of the offers the page popped up as timed out. I called, they couldn't recover the app or any info about it. So I waited until September to try again (thinking I'd try in a couple months, I frankly forgot about the time and applying). On the September attempt I was approved instant (no waiting at all, I clicked submit and the approved page came up before I heard the sound of the click lol), and with NPSL.
When I applied in the spring, I had an erroneous CA on my reports I was finally able to get removed via our State Attorney Generals office. That one collection pretty much prevented me from getting any decent approvals. I had no luck getting it removed and I refused to negotiate something I didn't owe. AG had it gone from all 3 CRs within a week.
I also applied for Chase and Discover More around that time last spring. Got neither at that time. I did get a second Cap 1 card and Credit One from pre-approved offers that I thought were BOTH from Cap 1, I didn't look up Credit One before accepting, I wish I had but have it now so not a big deal before I close it. With the CA on my reports I thought I would be stuck not only with it being there but with cards like Cap 1 and low CL primes forever.
After it (the CA) was gone and time passed, it really made a difference. The collection was listed first on my denial info in April. AMEX lists reasons of denial in order of importance when it comes to a denial. So it appears they're saying your AAoA is what's keeping you from AMEX (the reasons below length of time accounts have been established are mostly "filler" reasons). So you would want to wait the 6 months before applying again if you want your chances to seriously improve.
When I was approved for the ZYNC in Sept, my UTIL was higher my INQ's lower (my EX showed 5 for prev 12 months), but my AAoA was still closer to 3.6 years I think. Plus with the collection gone I had a rather thick file for 3.6 year AAoA with no lates. AMEX likes you to have some time in your history.
I also got Discover More in December with a 6.5k CL after waiting since April to apply, and it wasn't even in my sights. Along with 2 NFCU, a 15k joint and a 3k individual. I was declined for BCE just before DM which prompted me to try for the DM when a partner offer popped up.
Points of my response:
In 30 days you can possibly get a negative (late, CA, CO) removed.
In 30 days you can pay down UTIL from 80% to 20% if you want and have it improve chances.
In 30 days you can see an INQ or 2 drop from your reports.
In 30 days you can NOT add more than a month to your AAoA. Only time can do that.
(well, time or a back dating by AMEX when a person qualifies and gets one).
I hope the above info helps.
@Anonymous wrote:
@Juan123 wrote:i posted a thread about possiblities of a revolver... turns out i dont even qualify for a charge card. sigh.
This is what a new account specialist told me;
1. Apparently i shouldn't of applied again for the zync since its only been 30 days, he said to wait atleast 90 days.. He sent me an email for the reasons i was declined here they are;
We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On February 28, 2012, your FICO score was 694. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:
Length of time accounts have been established.
Too many inquiries last 12 months.
Proportion of loan balances to loan amounts is too high.
Proportion of revolving balances to revolving credit limits is too high.
One thing i don't understand is the revolving balances to limit is too high.... since my util is 8% and only a balance on 2 cards my citibank card with 10% util and my capital one card with 6% util.....
Then the balances on loan... the loans aren't in repayment yet but apparently its partially a reason why i got declined...... Too many inq's in last 12months... i guess 8 (2 being amex) is too many.
and my AAoA is too low... nothing i can do about that..
So what do you guys think i should do? I Thought with my score at right below 700 i'd qualify just on that.. but i guess not.
Juan those are the reasons that contribute to your FICO score which alone would pass for zinc. Above those should be the reasons amex used to denial they may differ from the fico score contributors. I think they listed in order of importance from top to bottom you should read those and key in on the first two.
the reasons for denial are the same...
thanks for the advice guys, i think im going to apply for a chase product so i can finally close my last capital one card.. if im approved or not ill garden for a few months.
Just a heads up... Most Chase cards are harder to get than ZYNC (IIRC) from what I've read. Just wanted you to know that's a possible risk before you clicked submit. It's not written in stone however.
