Re-applying Dilemma

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Joined: Wed Nov 28, 2012 10:23 pm
Location: Toronto, Canada

Re-applying Dilemma

Postby Gnarwhal » Wed Nov 28, 2012 10:31 pm

So I am a Canadian resident and I have applied for an AMEX Blue Sky card in September and was denied (after getting a reviewing application status).

I called and tried to make them reconsider but no success. I asked the representative why I was rejected and she said the only reason I can see is the high utilization rate of your credit card.

She told me to keep the utilization levels at appropriate levels and reapply in 6 months.

I knew why I was rejected because September was buying textbook season so I ran up and nearly maxed out my credit card (of which I paid in full later).

I had only one credit card of which I have a 1,000 credit limit and applied for a new card in August that had a 2,500 credit limit. (I only began using it more to balance the utilization after my first application in September).

I recently was curious on how my Equifax report faired and I got a 830 Excellent rating with a utilization rate of about 12% with two revolving credits that have been paid in full each month and also have my cell phone billing set up on the card that has the 1,000 credit limit (and I use the other card for everyday expenses to balance the utilization).

I was wondering if I should I reapply again after two months after seeing my utilization rate is significantly lower then the approximately 60-70% utilization rate I was cited for.

Should I worry about getting denied or should I be accepted this time? After I have fixed the issue now that my utilization rate is lower?

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Postby Robrus1 » Fri Nov 30, 2012 9:40 am

I'd wait a couple more months. I don't understand the 830 credit score though. If you have an 830, you should get approved for anything.
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Postby MemberSince99 » Fri Nov 30, 2012 4:24 pm

You don't HAVE to wait 6 months that was a suggestion. If your utilization has fallen to 12% it shouldn't be an issue, and since that was the only issue then, you should have a shot assuming there is nothing else. The 6 months she suggested is not cast in stone it's just general advice.

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