@Anonymous wrote:
Hi...Tried to look in the Forums for my answer but no success.
I tried to apply for an American Express the other day and I got turned down. So I decided to pull my credit and this is what I found......
Please if any tips out there to get better credit, I appreciate it.
1)$250,000-Mortgage late for 6 months- Granted Modification 6 months ago. Paying as agreed......Note on credit report about modification.
2)CAPITAL ONE-$465.00-PAID OFF THIS MONTH
3) CAPITAL ONE-$489.00-BALANCE-CREDIT LIMIT $500.00 PAYING AS AGREED....NO LATE PAYMENTS
4) BRANDSMART STORE CARD-$291.00 BALANCE-$650.00 CREDIT LIMIT-PAYING AS AGREED
5) CHEVRON-$1000.00 BALANCE $1200.00 CREDIT LIMIT-PAYING AS AGREED
5) JCP-$440.00 BALANCE-$500.00 CREDIT LIMIT-PAYING AS AGREED
6) ORCHARD BANK-$0.00 BALANCE-$350.00 CREDIT LIMIT-
7) CREDIT UNION LOAN-$3500.00-$1700.00 BALANCE-PAYING AS AGREED.
NOW WHATS WRONG?
At first glance the thing that I see is the mortgage. AMEX sees six months of late payments. They don't care about a modification or what kind of line it is, all they see is 6 months of lates in the last twelve months, and that disqualifies you right off.
Sometimes a modification includes provisions for reporting the account in good standing. Did yours? That would seriously help your report. Otherwise, your choices are to GW, or let it age off.
There may be other factors, but it's hard to say without seeing the whole report.
At a glance, I have to agree that the mortgage is going to be an app killer for a while yet. But, another issue might be that you have fairly high utilization, and a few maxed out cards. Do any of those cards have any late payments (30, 60, 90)?