Why was my application instantly denied?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
8 posts
CoolBradG
Green Member
Green Member
 
Posts: 17
Joined: Tue Oct 11, 2011 10:36 am
Location: Michigan, USA

Why was my application instantly denied?

Postby CoolBradG » Mon Jul 23, 2012 7:15 pm

So I recently tried to apply for Blue Cash Everyday and was instantly denied? :confused:

I was astonished because I've never missed a payment on any of my cards and always pay them in full every month. I have no loans or mortgages. Plus I have a steady job along with money sitting in my bank accounts?

I called Amex and she said they pulled Experian and my score was 724. She rattled off a bunch of denial reasons too including "too few accounts paid as agreed"? Like I said I've never missed a payment in my life and always pay in full. Never had any interest charged.

Now I know my utilization is high because I charge everything between my cards but this is why I'm trying to get another card to bring my utilization down.

Anyway though I'm impatiently waiting for that letter now and the details about getting my free credit report since I believe something may not be right. This is very disappointing though because I was really hoping to get my foot in the door and establish credit with Amex.
Credit Lines
Discover IT (June 2010, 1.5k)
Chase Freedom (Sept 2011, 2k)
Dell Finance (April 2012, 2k)
Chase Amazon (May 2012, 1k)
American Eagle (Aug 2012, 4k)
Kohl's (Sept 2012, 600)


CoolBradG
Green Member
Green Member
 
Posts: 17
Joined: Tue Oct 11, 2011 10:36 am
Location: Michigan, USA

Postby CoolBradG » Mon Jul 23, 2012 7:24 pm

Btw heres my card/account history:

Discover - 1k - June 2010
Chase Freedom - 2k - September 2011
Dell Preferred - 2k - April 2012
Chase Amazon - 1k - May 2012
Credit Lines
Discover IT (June 2010, 1.5k)
Chase Freedom (Sept 2011, 2k)
Dell Finance (April 2012, 2k)
Chase Amazon (May 2012, 1k)
American Eagle (Aug 2012, 4k)
Kohl's (Sept 2012, 600)

CC Deville
Centurion Member
Centurion Member
 
Posts: 1067
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Mon Jul 23, 2012 7:42 pm

Your credit is too new. Even though you have a 700+ FICO score, there is no meat and potatoes behind it. Your oldest account just turned 2 last month and you have very recently opened two additional accounts.

I would apply for an Amex Zync first. This will establish your Member Since date. Then, next summer reapply for the Blue Cash Everyday. Your credit will be older and you will have a year with Amex. The Blue Cash Everyday would report as opened the same year that you opened the Zync.

CoolBradG
Green Member
Green Member
 
Posts: 17
Joined: Tue Oct 11, 2011 10:36 am
Location: Michigan, USA

Postby CoolBradG » Mon Jul 23, 2012 7:44 pm

CC Deville wrote:Your credit is too new. Even though you have a 700+ FICO score, there is no meat and potatoes behind it. Your oldest account just turned 2 last month and you have very recently opened two additional accounts.

I would apply for an Amex Zync first. This will establish your Member Since date. Then, next summer reapply for the Blue Cash Everyday. Your credit will be older and you will have a year with Amex. The Blue Cash Everyday would report as opened the same year that you opened the Zync.

Should I really risk another pull for the Zync though?
Credit Lines
Discover IT (June 2010, 1.5k)
Chase Freedom (Sept 2011, 2k)
Dell Finance (April 2012, 2k)
Chase Amazon (May 2012, 1k)
American Eagle (Aug 2012, 4k)
Kohl's (Sept 2012, 600)

DeadSpider
Platinum Member
Platinum Member
 
Posts: 82
Joined: Tue Jun 12, 2012 10:51 am
Location: Las Vegas

Postby DeadSpider » Mon Jul 23, 2012 7:59 pm

Amex credit cards are harder to get when your new to credit. It's not just about 700+ FICO score you need payment history and you can only get that in time.

Go for Zync if you don't get approved try agian 3-6 months.
Cap! QuickSilver VISA 2005 $6500
Chase Freedom MC 2006 $5000
Amex Sky 1999 $2000
BCE 1999 $8800
NFL 2013 $1500
Discover IT 2013 $3500
FICO July 16/2012 ---- 742 Experian (Amex)
BK comes off ---- 9/2014

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon Jul 23, 2012 8:23 pm

If you want the Blue, then yes, they are steering you right. You can apply immediately for the Zync even though you were declined for Blue.

If you get the Zync app for Blue in 6 months, if not, app for Zync in 3 to 6 months.

User avatar
Cyberius
Platinum Member
Platinum Member
 
Posts: 85
Joined: Fri Apr 06, 2012 8:17 pm
Location: Tennessee

Postby Cyberius » Mon Jul 23, 2012 9:16 pm

Agree with the above. Try for the Zync then app for the Blue later.

The charge cards are easier to get, and once you get an internal score they are likelier to approve you later.

Amex is a great company to work with. Good luck.

User avatar
FastSRT8
Centurion Member
Centurion Member
 
Posts: 1454
Joined: Thu Apr 19, 2012 1:32 pm
Location: Canada

Postby FastSRT8 » Mon Jul 23, 2012 10:07 pm

Seems like you are applying too soon. Temper your rate of acquiring cards. Let your credit history build first. Keep up the good work paying on time.
Carpe diem quam minimum credula postero!



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests