Discussion in 'Credit Talk' started by David, Oct 19, 2000.

  1. David

    David Well-Known Member

    A post just a page back indicated that Blue from American Express required a minimum of two years credit history.

    Well, being that I want to apply in 6 months for Blue, and that would only give me 15 months credit history on my oldest tradeline, I called and spoke to an extremely friendly rep. She laughed when I told her about that!! She said that isn't the case for any of the cards. A review of the credit report (and FICO score), income analysis, and employment/stability history will determine whether or not you are approved. Of course, the report must be immaculate, including amount owed on revolving, installment, and inquiries.

    Shew. Got worried there for a minute
  2. Jo

    Jo Guest

    It all depends on who you speak with...but I was definately told about the 2 year thing by New Accounts. I don't think AmEx will take a chance with someone who doesn't have a real history established...
  3. David

    David Well-Known Member

    Maybe they're referring to a 2 year time period after ANY derogatory is added to your report (i.e. lates, BK, etc.)

    If your credit score is high enough, and everything else is in place, why wouldn't they issue the card?

    My last AMEX denial was based on: too many recent inquiries(which I could remedy in 6 months) and too many accounts with balances (obviously still BUILDING (not REBUILDING) credit, hence balances on accounts. That, too, could be relieved by not charging the month or two prior to application.
  4. David

    David Well-Known Member

    And that was with 8 months credit history. Nowhere did they say "insufficient established credit" or "accounts too new to rate."
  5. Jo

    Jo Guest

    Yeah, well sometimes not all the reasons are disclosed, but nonetheless, I was just passing on what I heard from the CSRs @ New Accounts.
  6. David

    David Well-Known Member

    I don't mean to continue with the counter-points, but when the credit score is generated, so are the TOP 4 REASONS the score wasn't higher. If "insufficient established credit" wasn't mentioned, then it's not making a big enough impact on the credit score/decision.

    Believe me, if I denied solely based on that, then I would ask for an override by a supervisor. Gosh, they gave Dogman a card, and he had a charged-off balance with them (yes, I know he paid it back..) I'm talking about a report that has strong tradelines that's never been scathed.

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