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I don't get it... Someone please help me understand!

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natesezgoblue
Valued Member

Re: I don't get it... Someone please help me understand!

im going to assume that the amex is a net account.  They can risk a lil more exposure when the entire bill is due at the end of the month.

Message 11 of 43
capitalkid
Regular Contributor

Re: I don't get it... Someone please help me understand!

did you get approved for amex charge or amex revolving? Sounds to me like the odds are Amex Charge, which is not a useful everyday card for someone who EVER needs to carry.

 

+1 Different lenders have different criteria.

 

Discover for instance is VERY CONSERVATIVE, as they fund themselves.

Barclay is Less Conservative the Discover, but has a whole other set of determining criteria, you want ot be careful with them because sometimes when you REQ a CLI on them , if your reports dont look good, the have a history of doing a CLD instead.  It has been said that they are INQ sensitive, however I was able to successfully negotiate a CLI with more than 10 on TU, again though these INQ were more so related to my CLI requests for other cards than they were for new Accounts, which Barclay DOES NOT LIKE more than they are INQ sensitive.  New accounts seem to Spook them under some circumstances.  

 

I think you need to study the lenders, there is so much on here for them! You are in the right place.  

 

Myfico is a place you can literally study the methodology of credit. Its amazing what you can accomplish in such a short time.  Good Luck!

 

 

Message 12 of 43
Anonymous
Not applicable

Re: I don't get it... Someone please help me understand!

I guess... Diving back into the world of CC.
Amex Blue Cash Everyday is a CC not a Charge card.
I don't really care right now as I rarely carry a balance on my Cards I am just trying to up the CL, down the Ratio and up the score!
Message 13 of 43
newhis
Valued Contributor

Re: I don't get it... Someone please help me understand!

OP said it is Amex Blue Everyday.

 

OP, remember that the Amex is not showing in your reports, so the other lenders only can see your 1k, 0.75k cards.

 

What you need to do now is call as CreditAddict told you. Hope you can get those cards because you already took the HPs. Then wait (even if you don't the cards), use your Amex and at 61 days you can ask for 3X limit, even if Amex don't grant you the increase you can keep using the card, in a few months you'll have history with a 8K card, so you can try to get CLI on your other cards or new that maybe will give you a higher limit.

Message 14 of 43
wacdenney
Valued Contributor

Re: I don't get it... Someone please help me understand!

Congrats!!

 

8k is a great starting limit with AMEX!!  Don't forget to go for the 61 day 3X CLI.

Message 15 of 43
Anonymous
Not applicable

Re: I don't get it... Someone please help me understand!

Well sure... It's just a bit discouraging...
My CC for more then 1 year old will not extend my CL to more then 1k...
My application to Chase was declined...
My application with Discover was barely accepted with a 1k CL...

How am I supposed to ask Amex for 24k?!?!?!
Message 16 of 43
wacdenney
Valued Contributor

Re: I don't get it... Someone please help me understand!


@Anonymous wrote:
Well sure... It's just a bit discouraging...
My CC for more then 1 year old will not extend my CL to more then 1k...
My application to Chase was declined...
My application with Discover was barely accepted with a 1k CL...

How am I supposed to ask Amex for 24k?!?!?!

If I got discouraged after every declined app I would have given up a long time ago.  Focus on the success and don't take the declines personally.  I was declined by Chase at least 4 times before I got approved and even then I had to start out with the Amazon card.

 

8k to start with AMEX is GREAT!  They started me at 2k.  It would lead someone to believe that EX may be your cleaner report.  And...  YES!!  ask for 24k in 2 months.  If they don't give it to you they will counter or they may decline, but you wont know if you don't ask.

Message 17 of 43
Anonymous
Not applicable

Re: I don't get it... Someone please help me understand!

Ok...
EX: expedian?
I will let you guys know how the request goes!
Message 18 of 43
Creditaddict
Legendary Contributor

Re: I don't get it... Someone please help me understand!

Did you ask chase to reconsider the decline?

what was reason?

Message 19 of 43
Anonymous
Not applicable

Re: I don't get it... Someone please help me understand!

Declined.
Not enough CC history. Applied for Saph. Pref.
Lady told me the smallest amount for that card is 5k.
I wasn't "ready" for that yet.
I don't even wanna call Barclay. They were rude the first time around, my APR is 30%, been with them for 1.5 years.
I am done with them. Won't close the accnt because it's one of my "older" accnt but they will no longer be getting my business.
Message 20 of 43
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