Help Me Get an AMEX revolver!

[Anonymous]

Hey Guys,

So after many years of ignoring my mediocre to poor credit (mostly due to a student loan default in 2008) I finally cleaned up my act (rehabbed loans and paid current ) and started rebuilding last June with my first Capital One card.

I've acquired a TON of cards over the last year. The list is as follows:

6/15 - Capital One Platinum - $3k SL - CLI'd to $5k - + $500 Credit Step CLI then PC'd to Venture one - Closed 5/16 - Combined into Venture #1

8/15 USAA World MC - $5k SL

8/15 - Amex Plat NPSL (w/100k bonus)

9/15 Chase Slate $5k SL - PC'd to Freedom Unlimited in 4/16

9/15 Cap One Quicksilver $5k SL

9/15 BOA Cash Rewards $3k SL

9/15 BOA Travel Rewards $3k SL

9/15 Amex PRG NPSL (w/50k Bonus)

10/15 Cap One Venture $20k SL

10/15 Barclays Arrival + 3.5k SL

10/15 - Added as AU to CSP $23.9k SL

11/15 Cap One Venture #2 $15k SL

11/15 Cap One Venture #3 $15k SL (same day back to back as Venture #2)

11/15 DCU Used auto Loan 23.9k @ 2.99%

11/15 DCU Visa $8500 SL

11/15 Stash Hotel Rewards Visa $8k SL

11/15 Chase Freedom $5.5k SL

12/15 - Added As AU to Amex PRG NPSL

12/15 - Added as AU to Amex MB revolver $10k SL

1/16 - Chase United Mileage Explorer $9k SL

3/16 - Amex Business Gold NPSL

3/16 - Chase INK Business $5k SL

5/16 Combined Cap One Venture One with Venture #1 - New Venture #1 SL - $25.5k

My scores have been up and down like a ping pong ball as things have reported etc.

Last I checked a couple weeks ago My TU was 702 EQ was 680 and EX 693

The have been ranging between 670 - 705  up and down depending on the month. TU seems to never drop below 690.

So I now have 3 NPSL amexes (and am an AU on one NPSL card and One revolver) but I want my own ED card. (Mostly as I plan to trim some of the fat out of my Amex Portfolio) - I'm prob going to drop the plat card and go for the business version. But I've applied for the ED card twice, and been denied both times. Yet they approved me for the business Gold card after that. I also got denied for a Delta Skymiles Card (after being emailed an enhanced bonus offer).

Is there a secret to the AMEX revolver? Fico Score? Inquiries? Something?

What gives?

Thanks in advance,

George

[creditguy]

Beats me why you can't get a revolver. What's the reason they give you in the past when they denied you? Perhaps you have too much new credit and you should let those accounts age. What's your utilization looking like? Amex does not like high utilization if that's the case.

[Anonymous]

Util is less than 5% Overall - ~ 5k a month on a total of 169k of available credit.

I do touch 30-50% on a couple of the smaller limit cards sometimes (barclays and freedom) however, I PIF monthly. I've never gotten a solid REASON from amex. - just a "declined" letter stating generic reasons. My AAoA is 2 years, 11 months. (my student loans date back to 2006-2008) and I was an AU on 2 cards of my mothers (even though I dont actually physically HAVE cards) one was opened in 2000 and one in 2011.

I have a couple negatives slated to drop off somewhat soon.

1st - A New Jersey Higher Education assistance tradeline - shown as Opened 11/2009. Basically they were the guarantee agency that bought my student loans when I defaulted. Between a wage garnishment and a final in full payment they are COMPLETELY paid off, however it shows as closed, Paid charge off.  7 years on that will be 11/2016

the 2nd Negative is a judgement for $700 or so dollars - 10/2009 for that one. It was paid in full back then, I disputed its presence. TU removed it, EX and EQ let it stay.

Those two should drop off by the end of the year.

Take care,

George

[Anonymous]

Well if you already have an account I suppose you're not taking hard pulls. there are members here bang on the door every 3 to 4 weeks and finally get approved, even when their scores go down. persistence is key. if you are a long-time member you may want to just call and talk to someone directly and do the application over the phone next time. I agree getting the AMEX ED card will be an awesome combo with what you have going on.

[Closingracer99]

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@Anonymous wrote:

Util is less than 5% Overall - ~ 5k a month on a total of 169k of available credit.

I do touch 30-50% on a couple of the smaller limit cards sometimes (barclays and freedom) however, I PIF monthly. I've never gotten a solid REASON from amex. - just a "declined" letter stating generic reasons. My AAoA is 2 years, 11 months. (my student loans date back to 2006-2008) and I was an AU on 2 cards of my mothers (even though I dont actually physically HAVE cards) one was opened in 2000 and one in 2011.

I have a couple negatives slated to drop off somewhat soon.

1st - A New Jersey Higher Education assistance tradeline - shown as Opened 11/2009. Basically they were the guarantee agency that bought my student loans when I defaulted. Between a wage garnishment and a final in full payment they are COMPLETELY paid off, however it shows as closed, Paid charge off.  7 years on that will be 11/2016

the 2nd Negative is a judgement for $700 or so dollars - 10/2009 for that one. It was paid in full back then, I disputed its presence. TU removed it, EX and EQ let it stay.

Those two should drop off by the end of the year.

Take care,

George

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One problem is Amex is an EX puller so you should probably wait until it falls off IMHO. Even then you have a lot of credit already so I would cool off anyways.

[dragontears]

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@Anonymous wrote:

Util is less than 5% Overall - ~ 5k a month on a total of 169k of available credit.

I do touch 30-50% on a couple of the smaller limit cards sometimes (barclays and freedom) however, I PIF monthly. I've never gotten a solid REASON from amex. - just a "declined" letter stating generic reasons. My AAoA is 2 years, 11 months. (my student loans date back to 2006-2008) and I was an AU on 2 cards of my mothers (even though I dont actually physically HAVE cards) one was opened in 2000 and one in 2011.

I have a couple negatives slated to drop off somewhat soon.

1st - A New Jersey Higher Education assistance tradeline - shown as Opened 11/2009. Basically they were the guarantee agency that bought my student loans when I defaulted. Between a wage garnishment and a final in full payment they are COMPLETELY paid off, however it shows as closed, Paid charge off.  7 years on that will be 11/2016

the 2nd Negative is a judgement for $700 or so dollars - 10/2009 for that one. It was paid in full back then, I disputed its presence. TU removed it, EX and EQ let it stay.

Those two should drop off by the end of the year.

Take care,

George

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without even knowing what the "generic" reasons are people can only take a shot in the dark as to why.

I would have to guess with the activity your profile has had in the last year, you are seen as risky and agressively seeking credit....

[Anonymous]

Success!!!.. Kinda....

I decided what the heck let me try one more app for it (being that they are soft pulls anyway), and I was instantly approved for the ED card. But with a toy $1000 spending limit. But I'm in and I have a NO AF Amex revolver to park my MR points when I decide to trim the fat out of my Amex Portfolio. I guess next step is the 3x CLI at the 90 day mark.

Take care,

George

[creditguy]

Congrats on your approval, hope the CLI works out so you really use this card, but nonetheless you've caught your white whale congrats again.

[taxi818]

Congrats. Well the 1k limit with Amex says it all. Its time to stop applying and let the inqs fall off and your scores will rise. It will take some time to get increase with that probationary limit that amex sets. Maybe even over a year. Don't get upset. Just use wash rinse, and repeat and it will grow eventually. We all say it and it is true. Credit is a Marathon not a sprint.

Take it easy. You have more than you know what to do with or enough to get into trouble. So now let it be. Good luck.

[Anonymous]

I hear you... I think i'm kind of pushing the limits however two things amaze me.

1) When I had fewer new accts, inquiries etc etc AMEX flat denied me for a revolver - now they decide to give me one albeit with a toy $1k limit?

2) I logged into my AMEX acct, and just for the heck of it clicked on the "check spending power" link on my Platinum card. I entered 12k and it came back instantly approved. So they will let me spend 12k on a charge card without hesitaiton, but they only give me a $1k credit limit? Kind of frustrating... I did the math Since August of 2015 when I got my first AMEX charge card, I've spent (and paid) $16,822 with them, and have another $3k or so as current balances. (which obviously will be paid in full when the statement closes)  I'm going to wait the 60 days and talk to the chat folks to see what I can do with a CLI.

Take care,

George