=( zync denied, freedom 10 days..

[gngo2007]

So AMEX outright denied me i believe because of income..i'm currently a student and working a temp job until August and so far I've only made $1,100 and I don't intend on working during the Fall..But Chase has given me the 10 day notice. Should i even bother with the Walmart card or just call it quits because of my super low income.

Citiforward-9/2011-$5500-->0 balance

Discover-1/2010-1000-->0 balance

Loans-9800 balance-deferred.

AAOA is about 1.9 years

AMEX:

"We are required by federal regulations to evaluate your capacity to take on new debt. The amount of your annual income and/or financial assets known to us is insufficient in relation to the credit you've applied for and your overall debt obligations as reflected in our records and on your credit report."

[CreditScholar]

With that income I wouldn't bother.

You've got more than enough already given what you make. Use the credit you do have well, and when your income rises so should your chances of getting a new card. Until then no lender with half a brain should extend you more credit given your current profile.

[Repo-ed]

Do-not-bother.

Gardent the cards you have, and then when you have steady income, you'll be in much better shape to app w/e you want.

[RockinRay]

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@Repo-ed wrote:

Do-not-bother.

Gardent the cards you have, and then when you have steady income, you'll be in much better shape to app w/e you want.

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+1 - best advice on this for sure!

[gngo2007]

Who needs to go back to school should've done a full time job instead of temp..

Anyways chase denied me as well. But the csr did try to recon it without even asking me if I wanted to do that. He then told me that my report looks amazing and it would've been a brainless decision but the income ruined it..
The reason for declination was basically "obligations to income". Any way to recon that? Possibly tell them I have a chase checking and savings account and that I'm able to make all my payments with the money I have?...


Thanks for the help guys. Sucks I got the double reject though I wouldn't mind even a smal CL

[learnin113]

For a low/no income person, you already have a lot of credit. 

[JusdoNit]

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@gngo2007 wrote:
Who needs to go back to school should've done a full time job instead of temp..

Anyways chase denied me as well. But the csr did try to recon it without even asking me if I wanted to do that. He then told me that my report looks amazing and it would've been a brainless decision but the income ruined it..
The reason for declination was basically "obligations to income". Any way to recon that? Possibly tell them I have a chase checking and savings account and that I'm able to make all my payments with the money I have?...


Thanks for the help guys. Sucks I got the double reject though I wouldn't mind even a smal CL

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Hang tight.  It will all come together before you know it

[injustifiiable]

I kinda wish I was rejected for credit cards when I first started college and making next to no income at all...(granted it was 10 years ago and I don't remember what I DID put for income...rules have changed since then, obviously.)

I'd probably be in much better shape. Thank gosh banks aren't allowed to hawk their wares on college campuses anymore.

[gngo2007]

I swear I'm a good kid with my credit cards =) I really just wanted it to help build my score so I don't have crap rates for car loans, students loans etc.

But I guess I'll be wandering these forms for another 4 years until I'm done with pharm school (-.-) lol thanks again!

[Anonymous]

They can get in trouble now under the new Credit CARD Act.  For anyone under... 21 maybe? They must be able to show proof of the ability to repay.  With your income barely above $1,000, Citi was pretty irresponsible in giving you a $5000 CL.