Denied for AMEX Zync... Should I call for recon?

[GebraJake]

On July 4th I decided to apply for Zync and was instantly denied, I have heard of people getting $500 limits with auto-pay, is it worth the extra HP to see if I can qualify?

I have had a Crapital One secured with $400 limit since 7/11

BoA secured with $300 limit since 1/12

Discover More with $1000 limit since 3/12

And Chase Amazon with $800 limit since 7/12....lol

I know I should be happy with the last two, but I am impatient and AMEX is last on my wish list, balances are a little high but never missed a payment and have nothing bad on any of my credit reports.

Is it worth the extra pull to see if I can get it?

Thanks in advance

[injustifiiable]

It would've countered with one of those two offers if you qualified.

Give it some time and get your util down and you may be good to go in a few more months.

What were the other reasons for denial?

[LS2982]

How high was your util?

[GebraJake]

Utilization may be 60% or higher, not too sure though, other reasons were AAoA, too many new accounts and high inquiries. Standard denial reasons for newbies.

[RockinRay]

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@GebraJake wrote:

Utilization may be 60% or higher, not too sure though, other reasons were AAoA, too many new accounts and high inquiries. Standard denial reasons for newbies.

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You can make the call to see if you might catch a break from them but most likely not... If it were me, I would call and plead my case. At this pont, you have nothing to loose.

[-Cain-]

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@GebraJake wrote:

On July 4th I decided to apply for Zync and was instantly denied, I have heard of people getting $500 limits with auto-pay, is it worth the extra HP to see if I can qualify?

I have had a Crapital One secured with $400 limit since 7/11

BoA secured with $300 limit since 1/12

Discover More with $1000 limit since 3/12

And Chase Amazon with $800 limit since 7/12....lol

I know I should be happy with the last two, but I am impatient and AMEX is last on my wish list, balances are a little high but never missed a payment and have nothing bad on any of my credit reports.

Is it worth the extra pull to see if I can get it?

Thanks in advance

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Some CSRs I've spoken to had no idea about the auto-pay or hard limit counter offers. I believe another poster who knew a thing or two about AmEx said it was probably a computer generated offer. That being said, you've already taken an INQ hit, may want to at least try and recon and see what the credit analyst says. Submitting another application for an AmEx within 30 days will only result in the application being cancelled.

[android01]

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@RockinRay wrote:

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@GebraJake wrote:

Utilization may be 60% or higher, not too sure though, other reasons were AAoA, too many new accounts and high inquiries. Standard denial reasons for newbies.

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You can make the call to see if you might catch a break from them but most likely not... If it were me, I would call and plead my case. At this pont, you have nothing to loose.

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Sorry to be a wet blanket, OP, but if I were you, I  would cool my jets.  impatience does not help trying to build credit.  If anything it hurts.  Think long term, if possible!  

[Repo-ed]

You have to think. If somebody came and asked you for money, and they were already carrying balances owed to other people that was greater than 60%, would you feel as comfortable lending them money?

[GebraJake]

No... lol

[Anonymous]

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@GebraJake wrote:

No... lol

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lol i agree cool your jets but go for the recon and see what happens you already took the hit now go take the bait haha