The question is specifically for charge cards. I am also curious to know how many CC you had when you applied and length of credit history if that's not too much to ask for.
I applied last month for a PRG and was denied bc of the following reasons
(1) Derogatory mark on my report -> has been removed from TU & the other 2 in the last 2-3 weeks so my record looks clean now
(2) Too few accounts -> only have 1 cc, still trying to figure out what to get next
(3) The length of time my accounts have been established -> It's only been 8 months
(4) There is no recent information about installment loans on your report -> What does this mean?? It's bad that I do not have loans???
(5) Too many inquiries in the last 12 month -> This human at Macy's ran my credit twice when I told her I just wanted the store card and NOT the CC and that is what appears on my CR. Other than that, the Amex is the ONLY thing I applied for
I am thinking about opening two accounts by the end of the year before I app again with AMEX sometime next year. Other than reason #2 and maybe length (but i've heard people got in with 6.5/7months of credit) I don't see why I would be denied again. In 8 months I went from a 580 to a 703 TU, no late payments, CC utilization is good, pretty much on the right path to greatness IMO
What are your stories and your thoughts??