PLZ HELP ME....Denied American Express?

[Cdnewmanpac]

We could help more if you listed the fico score they gave you in the denial letter, which Amex you applied for and a little about your credit history, such as whether you are new to credit (oldest card?) and whether you have any negatives. If your score is too low, issuers will often just list three factors that are lowering your score. While there are some people who have achieved high scores over years without installment loans, it is also true that variety of credit IS a factor in fico scoring. Adding a personal loan was what got my eq back into the 700s after being stuck in the 690s, for example.

[Flying_High]

Ok I just had to update my scores on MyFCIO my TU is 727, EQ is 668..

I allso have uploaded whats on my file....Im doing everything im supposed to be doing, and Im when my Cap1 bill is due i pay acouple days early before due date but it still doesnt want to show on MyFICO that I had a balance.. So am I suppose to wait last min to pay it just so it can show in my revolving account.... and as u can see im uesing %1 Ratio from Ebay they reported that $13 the same day I was approved....and why is it saying You have too many Account with bal and next to it it saids Number of  your account carrying a bal is 1 "But YET I have to many accounts with bal". Now do you see why im so confused?..

[navigatethis12]

Really the thing holding you back is the length of your history. Eight months is very short and that is probably the biggest reason American Express declined the application. A lot of new accounts can also make lenders apprehensive about approving you. I do not get why Capital One has not reported a balance, but that really is not that important in my opinion.

The too many accounts with a balance is obviously ridiculous and you should just ignore it.

You probably do not want to hear this, because I know I did not, but you should let the accounts you have age some more. Maybe in February you could try and apply again since your file will be a year old. It is really hard to get established when you are just starting out, but you are doing very well with five accounts already.

[swpopham]

I agree with navigate sit tight for at least 6 months. You are going to do more damage reapplying only to get denied again. Amex historically likes to see at least a year on previous cards. Chill out relax and enjoy knowing you are starting out a solid foundation to build off of

[Flying_High]

@Navigatethis12 Thank You that help me out alot cause It was seriously driving myself crazy It was making me feel like I was missing something, Yeah as long as the Ebay gets put on the revolving account im not going to stress over the others..I dont want to be denied anymore so im done with tryin 2 get more credit cards @Swpopham you are right ill dig myself a hole & that cant happen....Thank you guys, Theresa

[Elcid89]

Truthfully, you have a thin file and you have a very short history. Neither of these are things that AMEX likes.

I won't say that it never happens, but app'ing for an AMEX with that credit file was really (IMO) swinging for the bleachers. You need to lower your horizons and focus on getting progressively better credit lines that realistically fit with your own situation.

[youngandcreditwrthy]

+1 to all... yeah your history is just so short..... honestly, you'd be even better of if you just wait til your aaoa is at two years... then you could get Amex or any other prime card really....Also... work on getting those limits higher... (don't count on Cap One for CLIs though!! HAHAH )

Best of luck :-)

[Flying_High]

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@Elcid89 wrote:

Truthfully, you have a thin file and you have a very short history. Neither of these are things that AMEX likes.

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1++++

[Flying_High]

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@youngandcreditwrthy wrote:

+1 to all... yeah your history is just so short..... honestly, you'd be even better of if you just wait til your aaoa is at two years... then you could get Amex or any other prime card really....Also... work on getting those limits higher... (don't count on Cap One for CLIs though!! HAHAH )

Best of luck :-)

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Yeah Ikn and it sucks. To be honest Im goin to try lol . The only thing I can do is wait 6 months on the Discover, Ebay, Walmart, & JUST maybe on the Cap1 $500 limit but yeah we all know how GREEDY Cap1 can be haha., and for my luck I hope they really help me out with the CL

[youngandcreditwrthy]

I just got my first Discover, so Idk how they are with CLIs, but I have both a Paypal MC (same as Ebay MC) and the Walmart Disc... and GECRB can be great with clis every four months... so I bet you can build those up in the next 6 months to a year to prob a couple thousand each. Just NEVER miss a payment :-)