Zync Denial

[prolificjinx23]

I was about 99% sure I was going to be declined but I wanted to try anyway (based on what I've seen here you never know!!!!)...... I found it weird that my denial letter said:

Dear prolificjinx23,

Thank you for your recent application for Zync SM from American Express.  We do value your desire to establish a relationship with us.  We regret that we are unable to approve your request.

Reason(s) for Our Decision

Your FICO® score  (See below)

Information About Your FICO® Score

We obtained your FICO score from Experian and used it in making our credit decision.  Your FICO score is a number that reflects the information in your credit report.  Your FICO score can change, depending on how the information in your credit report changes.  On October 13, 2011, your FICO score was 623.  The FICO score ranges from 300 to 850.  The following are the key factors that contributed to your FICO score:

Length of time accounts have been established.

FICO is a registered trademark of Fair Isaac Corporation in the United States and in other countries.

THAT'S IT?!?!?!?!? I thought it was worse than that!!!!!! If length of time is what they're looking for then that's what I'm gonna give them!!!!!!! LOL

In the meantime, THANKS FOR THE EX FICO!!!!!!!

[-Cain-]

Some say they like two years, I've seen others recently get approved with 6-8 months. We'll be in before you know it. How old are your accounts if you don't mind me asking?

[Anonymous]

Aw man, sorry to hear about the denial. Sucks. I was denied I believe three times before finally getting approved.

And I've learned to never really trust those denial letters...I've had several instances recently where banks denied me and only listed the collections on my report. For example, I applied for a Discover card a few months ago and was denied, the ONLY reason cited on the letter was because of a collections account. Well, fast forward to a few days ago, I reapply, sans collection, and whaddya know? DENIED. This time it's because I don't have enough credit history....funny how that wasn't listed as a problem last time, but now it is. 

Tell me ALL the reasons why I didn't get accepted, so I don't waste another inquiry thinking I got the problem fixed. 

[-Cain-]

I got different denial reasons as well. It does suck because I addressed the first set of reasons and was given a new set to work on. I'll address those too and try again.

[Denny33142]

I am beginning to think i got extremely lucky with my Zync approval, i got approved with a major derog and 11 INQ.

However i doubt AMEX denied you just because of account age, with a score of 623 you must have negative items on you report, now that you were denied you are eligible for a free report from Experian, you might want to get that and see what is pulling your score down.

[toytoy]

Actually,

That could be the actual reason they denied the OP. They like to see history, history, history and if the OP has none then they will issue a denial. Also 623 does not necessarily mean major derog. It could be he has a thin credit file or something of this nature. 

[prolificjinx23]

To be honest the only negative I have is a Paid CO from BOA & 4 lates with Merrick Bank. My oldest account with EQ & TU is 4.5 yrs aaoa 2 yrs. On EX it's over 7 yrs becus of an old account that I closed with no negatives with a bank that no longer exists.

[ADARPegasus]

you should try for there Clear card.

[birjest]

I was just approved yesterday, and I believe fo rme, had I not had the paid CO removed from my CR, I too would have been denied.  Hope this help...

[CS800]

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@Jonbuck06 wrote:

you should try for there Clear card.

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That would be suicide. The revolving cards are way more difficult to get than the charge cards.

I wouldn't even touch an AMEX revolving card with FICO's under 700.