icanectc wrote:mojobones89 AMEX will send you a letter explaining why they denied you. It will be specific so when the letter comes follow its advice to improve your chances.
As a side note there are many credit reporting services out their that can give you your fico score myfico.com is one and I've used them before but they do have a lot of gimmicks that if you aren't paying attention can accidentally pay for more than you needed. Its best to go with a company you are familiar with, Citibank offers a service to check your scores (I can't remember if its fico or not)
Very important to remember you may request a credit score for yourself as often as you want through these services and you will NOT hurt your score - these are known as soft inquiries only hard inquiries will hurt your score. TBH 10 inquires within a year is not horrible but its a balancing system if you have 10 inquiries and NO new line of credit that will hurt more than a hard inquiry and NO new line if credit. You also have no debt it would seem. that can actually hurt your score - don't be scared to use your credit cards (just don't overspend to what you can afford) and a strong general rule is never go above 50% of the overall credit line available so if a card gives you a 1k credit line never go above $500. but if you leave credit cards for longer than 2 months without activity your score will start to fall as they no longer have an ability to track how well you pay your bills - its easy to be on time when nothing is due! So pick a card use and pay it off (if you can) or simply make small purchases like lunch and pay it off. That is the best way for any bank to make a determination that you are credit worthy.
Wow...I hope anyone reading your advice will disregard almost everything you wrote!! Jeez, I don't even know where to start with correcting your posting.
1) There is only one place to get your FICO scores and that is myfico.com. It costs $19.95 for your TU score and another $19.95 for your EQ score. You cannot buy EX FICO scores.
2) There is nothing wrong with monitoring your credit with the various credit tracking services out there, just disregard their scores. They are known as FAKO scores. Anyone that knows about credit knows the difference.
3) 10 INQ's in a year is pretty much a given you won't be approved for new credit cards. One or two in 6 months is really pushing it with some lenders (Chase, Citi, Amex etc..).
4) Pay in full your credit cards each month (and usually before the statement cuts to make sure $0 posts on your credit reports. To maximize FICO scores, let one account post $1 or $2 and your FICO scores will be at their maximum. The basic rule is don't exceed 7-10% of your total credit lines. 50% and your scores will plummet.
5) Not using credit cards for 2 months is just plain wrong. Most cards should be used once every 6 months to a year so the creditors don't close your account for inactivity.
6) If you don't understand how credit works (and you clearly don't), please don't post things that you pull out of your rectum. It's not right to mislead people that are trying to learn the basics and what you posted is just plain garbage.
Sorry, not trying to offend you, just clarifying terrible information you posted that others might think is correct.