Okay, so I have another update...This time I have more closure. I called AMEX again. I inquired about what specifically caused the rejection of the application. The rep told me there are certain criterias that I did not meet. First, she specified that I had no CC's (According to EX), My income was too low, (I make $33,600 a year.) I have accounts that are still too new and I have too many inquiries. After speaking to her more and telling her my situation, she went on to tell me that they cannot control what EX gives them.
She did say what my FICO score that was pulled from AMEX was. On the dot 694 was the same as I pulled from myFICO.com. She informed me that the decision was not based on my FICO score, rather the credit cards I have did not have a long enough history to show AMEX a reliable streak of payment history. She also suggested that I wait 3-4 months and try to re-apply for the Gold card. The rep informed me that I should not worry about getting approved then because I would have more of a good payment history.
At least I now know that my credit is good enough to get AMEX....Just need to get more credit history with my cards. If I had waited to apply, (like I should have...I shot myself in the foot...) I would have most likely been instantly approved 3-4 months from now. I will now wait till the end of the year to apply again and also not apply for any more credit till then. I just want to build my credit even more with my two cards and eventually close my CO card. My BoA card will graduate to an unsecured card anyway. Closure on my credit situation came at a cost of a hard pull to my CR.
Thank you everyone and I should have listened to the other posters. :/
| Experian : 734 FICO (4/13/2014) | Transunion : 726 FICO (4/12/2014) | Equifax : 743 FICO (6/16/2013) |
| Bank Of America Cash Rewards $300 | Barclaycard Apple $2,000 | Discover IT $1,000 | Amazon Store Card $3,500 | American Express Every Day $6,000
I do have two Credit cards on file though, and they have on time payments with 9% utilization. If they feel like they will decline me again, I won't apply till at least next year. Considering I already sent my CR to them, I already put my foot in the door again. If I get approved...then SWEET! If I get denied....it's going to be a while before I apply for ANY Credit Card. I will just wait till my BoA card graduates to an unsecured card. Then I will apply to Discover or Chase and get rid of My Capital One card. They only requested my Credit Report because I told them I ACTUALLY HAVE two credit cards in good standing. If I don't get an AMEX, I won't cry about it, I just wish I could have avoided the dings before applying. (I know...wishful thinking...)