Charge card auto denied after credit unapproved

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bgalakazam
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Charge card auto denied after credit unapproved

Postby bgalakazam » Fri Jun 15, 2012 5:23 pm

So I applied for a Blue Cash, and since the hard pull happened, I also went for the Green and then Zync.

06/15/12 ZYNC(SM) FROM AMERICAN EXPRESS Cancelled
06/14/12 BLUE CASH EVERYDAY(SM) Declined
06/15/12 AMERICAN EXPRESS PREFERRED REWARDS GREEN CARD Cancelled

The denied says can't display online, so I guess I'm waiting for the 7-10 day letter.

The canceled say:
Thank you for your interest in becoming an American Express Cardmember. According to our records, you submitted more than one application for the Zync Card(R). We're writing to let you know we've cancelled the duplicate request.

Your original application has been reviewed and we have considered all of the information provided. At this time, we must abide by our decision and are unable to open an account on your behalf.


I guess it's 6 months waiting time now. But I only have 1 card and I am not approved for even Discover Student... P.S. My Experian is clean, waiting on Equifax paper (online unavail for me) and TU has issues, so I am getting a print to dispute it. see:
http://creditcardforum.com/general-credit-card-talk/4706-denied-but-already-have-credit-score.html


bmw1990Z
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Postby bmw1990Z » Fri Jun 15, 2012 10:42 pm

Unless you were mistaken on your first application which would result in denial I wouldn't keep applying for cards when you can't get approved for others. Let your accounts age.
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013

MemberSince99
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Postby MemberSince99 » Sat Jun 16, 2012 6:10 am

One route to consider is a credit union card. Or another secured card. You COULD sit back with that 500 dollar toy limit cap one card that will give you maybe a 250 CLI then not another one for 10 years, but that's a very slow way to build your credit. You'd be better off to have a couple more cards. Consider a credit union, a secured card, and finally a couple of store or gas cards. They tend to be easier to get. If you want to jump start things those are your best options. Then in 6 months or so of good credit use apply for the Zync ONLY do not go nuts and try for the Blue. Zync is much easier to get. If that fails wait another 6 months and try again. After 6 months to a year with the Zync, you should get the Blue.

It's a process that takes time but you can speed it up by following the things I've suggested.

bgalakazam
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Postby bgalakazam » Mon Jun 18, 2012 12:33 am

I am going to see if I can get a gas card. If that fails I'll talk to Bank of the West for a secured card. I won't apply for AMEX until Nov. at least.

Cheers and thanks for the advice.

DavidNY
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Postby DavidNY » Mon Jun 18, 2012 9:21 am

I recommend Bank of America's secured card. They review the account periodically and should convert it to an unsecured card after a good history.

You don't need an Amex (I didn't have one for many years and did fine), don't be fooled by their pretentious marketing.

bgalakazam
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Postby bgalakazam » Mon Jun 18, 2012 11:30 am

I have very strong personal and political views against BoA, Chase, Citi and Wells Fargo. I am especially NEVER using ANY BoA services ever again. I have also closed accounts with my CU since they denied me credit and with BBVA Compass for other reasons.

Crashem
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Postby Crashem » Mon Jun 18, 2012 7:04 pm

When you get denied, you are restricted from apping for 31 days. So when your Blue Cash got denied, the rest of the apps are auto cancelled. You should have apped for the charge card first since it is much easier to get. Then if accepted, then app for the Blue Cash. Wait 31 days if you want to app again. Amex recommends 91 days before apping after denial and I think there is a small ding to approval if you don't wait it. This is only my opinion and not much supporting evidence. Depending on my score, I would probably just wait the 31 days. If denied again, I would wait the full 91 days.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

DavidNY
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Postby DavidNY » Mon Jun 18, 2012 10:22 pm

I think I understand your personal and political views about the big banks, but Amex is no different. See http://www.nextwave.org/banking/did-american-express-become-a-bank-just-for-bailout-money/

Find another CU or community bank you feel comfortable with and go for their unsecured card, and if that doesn't work out, get their unsecured card if it reports a credit history to the credit bureaus.

Of all the big banks you've mentioned, Capital One is worse than any of them with crappy credit lines and lame customer service.

bgalakazam
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Postby bgalakazam » Mon Jun 18, 2012 10:37 pm

They are also the only one that approved me for credit :/ My wife has Chase and it OKAY, but I have had YEARS of problems with BoA starting in 2006, so def. never again. I also had huge problems with Wells Fargo (I had Wachovia, but then....).

I submitted an unsecured application for Bank of the West with low limit, will see how that goes. I have checking and DD there. If not approved, I'll probably go for a 1K secured card there. I don't want to stay with just 1 card.

DavidNY
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Postby DavidNY » Mon Jun 18, 2012 10:43 pm

It's definitely a good move to diversify. Good luck with Bank of the West.

Many people have had issues with BofA, but I've been fortunate to not have had any issues with them that couldn't be solved. In fact their credit card division, FIA Card Services, has been excellent when I've had occasional issues with my credit cards.

By the way, I didn't go to BofA, they came to me when my regional bank, Fleet, was gobbled up by them. I wasn't happy about it, I don't think any low-level employee at the bank was. But I never had any issues with the new overlords that couldn't be dealt with.



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