Hi, everyone. This is my first post on this great, great forum.
And definitely won't be the last. I just want some opinions on whether it's worth it to attempt reconsideration at this point.
I applied for Blue from AMEX and I was declined. They say the reasons are my Experian FICO score of 701, too many requests for credit and high utilization of credit lines.
I have 10 accounts in good standing on my EX file. No collections, no missed payments. I just don't understand the high utilization bit. I have two credit cards in use. A Macy's card and a Capital One card and I'm using about $350 worth of $2000 of total credit available including a card I never touch. I also have a car loan that is almost 2 years old but I recently refinanced. The refinance process generated 7 inquiries and there are 3 others from applications on the same day as I applied for Blue totaling 11 inquiries in the last 30 days.
So should I write to be reconsidered? Do I just have too many inquiries? Too little credit? Is my score too low? Should I open some more accounts before I try AMEX again? Is there an AMEX card I'd have an easier shot at?
Any advice would be appreciated.
EQ 736 / TU 759 / EX 701