Will high income help me get approved despite just OK credit?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
BDBlue
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Joined: Mon Jun 25, 2012 11:06 pm
Location: Wilmington, DE

Postby BDBlue » Wed Jun 27, 2012 5:32 pm

Well, I applied for the Green, and I was denied. I'm a little disappointed, but I can always go for the Zync next month.


ClubMead
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Posts: 28
Joined: Thu Mar 22, 2012 12:17 pm
Location: Florida, USA

Postby ClubMead » Thu Jun 28, 2012 10:07 am

irvine801 wrote:totally random but is your Chase card made of metal?


Yes ... why do you ask?
My Wallet:

AMEX Platinum - NPSL (obtained in 2012; Backdated to 1989)
AMEX Gold Business - NPSL (obtained 2006; Backdated to 1989)
Chase Sapphire Preferred - $30,000.00 (Obtained 2012)
Discover - $3,900.00 (Obtained 1994)
Bank of America - $5,000.00 (Obtained 2011)
Capital One - $7,500.00 (Obtained 2011)

ClubMead
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Posts: 28
Joined: Thu Mar 22, 2012 12:17 pm
Location: Florida, USA

Postby ClubMead » Thu Jun 28, 2012 10:10 am

BDBlue wrote:Well, I applied for the Green, and I was denied. I'm a little disappointed, but I can always go for the Zync next month.


Sorry to hear that.

Did you try for reconsideration? There is a number posted somewhere on this forum to do so. If I were you I would call, and even if not successful on the recon, you could find out why the application was denied. If it is purely for the score, you can develop a plan of attack to raise the score (probably Experian) asap and reapply in a few months. If it is for the prior late pay with AMEX, you may be in trouble ...

Good luck, and keep us up to date.
My Wallet:

AMEX Platinum - NPSL (obtained in 2012; Backdated to 1989)
AMEX Gold Business - NPSL (obtained 2006; Backdated to 1989)
Chase Sapphire Preferred - $30,000.00 (Obtained 2012)
Discover - $3,900.00 (Obtained 1994)
Bank of America - $5,000.00 (Obtained 2011)
Capital One - $7,500.00 (Obtained 2011)

432521
Centurion Member
Centurion Member
 
Posts: 379
Joined: Thu Apr 26, 2012 3:15 pm
Location: USA

Postby 432521 » Thu Jun 28, 2012 1:46 pm

BDBlue wrote:Well, I applied for the Green, and I was denied. I'm a little disappointed, but I can always go for the Zync next month.


You should talk to someone on the phone and see if you apply right now if they will just use the hard pull they did for when you applied for the Green and save yourself another hard pull.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

Ratfacedudeguy
Centurion Member
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Posts: 362
Joined: Wed May 30, 2012 8:10 pm
Location: Baltimore

Postby Ratfacedudeguy » Thu Jun 28, 2012 2:17 pm

ClubMead wrote:Sorry to hear that.

Did you try for reconsideration? There is a number posted somewhere on this forum to do so.


That number is 800-567-1083.

ClubMead wrote:Yes ... why do you ask?


There was some speculation that Chase was cancelling the metal Sapphire Preferred card and that they would begin issuing plastic cards.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

BDBlue
Green Member
Green Member
 
Posts: 15
Joined: Mon Jun 25, 2012 11:06 pm
Location: Wilmington, DE

Postby BDBlue » Thu Jun 28, 2012 6:30 pm

Thanks for the input everyone.

I will give the recon number a call to find out some more information. If I have to wait until I get my score up around 700, so be it. From what I hear, three CCs is better than two for FICO purposes, so I may get another CC (any non-amex recommendations?) and do some credit gardening for the next six months or so.

ClubMead
Gold Member
Gold Member
 
Posts: 28
Joined: Thu Mar 22, 2012 12:17 pm
Location: Florida, USA

Postby ClubMead » Fri Jun 29, 2012 8:34 am

The Chase Freedom seems to be a very popular card ... I think you should have a good chance of being approved.

You can check Who Gave Me Credit to get an idea of what people with a similar credit score were approved for, but I would think that if it is borderline with the score your income should help you.

Good luck, and let us know what AMEX says when you call for recon.
My Wallet:

AMEX Platinum - NPSL (obtained in 2012; Backdated to 1989)
AMEX Gold Business - NPSL (obtained 2006; Backdated to 1989)
Chase Sapphire Preferred - $30,000.00 (Obtained 2012)
Discover - $3,900.00 (Obtained 1994)
Bank of America - $5,000.00 (Obtained 2011)
Capital One - $7,500.00 (Obtained 2011)

BDBlue
Green Member
Green Member
 
Posts: 15
Joined: Mon Jun 25, 2012 11:06 pm
Location: Wilmington, DE

Postby BDBlue » Fri Jun 29, 2012 3:02 pm

Well, I talked to them about the reasons for my denial, and I had two mild surprises. The first was that my utilization was too high; I guess Experian hasn't updated to show my current month's low util (last month was up over 50%; my statement cut a couple days earlier than I was expecting)

The second was that my old account "was not paid as agreed." I was pretty surprised by this one. I can understand why Amex was very quick to close my account when I was late with a payment in the middle of the financial apocalypse, but I didn't think being less than 30 days late with a payment more than three years ago would still be an issue.

So, I am going to call their reserves department today or monday to find out more. Hopefully this is just one factor among many, and as my utilization % comes down, my late student loan payments continue to age, and my credit score goes up, I'll be able to get approved.

BDBlue
Green Member
Green Member
 
Posts: 15
Joined: Mon Jun 25, 2012 11:06 pm
Location: Wilmington, DE

Postby BDBlue » Fri Jun 29, 2012 4:08 pm

So, I talked to the reserves department. They didn't have much information on my account since it was so old; all they could tell me is that the account was treated as a "collection account," but was paid in full, and so I'm not blacklisted--the late payment/account closure was simply another factor in my credit decision. But, I probably looked a lot worse to them than my FICO score would otherwise indicate.

I'm pretty surprised that they have my account on record internally as "in collection," but it is what it is, I guess. I guess I'll have to get my scores up considerably higher before I'll get approved for even the Zync. That will take a few years; then again, at least I'm not blacklisted.

DavidNY
Centurion Member
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Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Fri Jun 29, 2012 8:48 pm

BDBlue wrote:my statement cut a couple days earlier than I was expecting


Your credit reporting date and closing date are two different things.



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