Declined for AMEX Line of Credit

I'm sorry, Jacqui. That's a bummer. I'm scared to even try. It seems like we would have better luck applying for the Centurion card rather than this trade line.

Dani

 

How did you find out you were declined?

 

JaquiG,

If it's any consolation, I'm not having a good credit day either. No, my situation doesn't involve Amex...I'm not ready for that card yet...but it does involve the MBNA AMTRAK card.

Since my Transunion report is all clean, and I thought MBNA would pull TU, I stupidly applied.

After submitting the application, I got the will-notify you later response and I figured then that the news wouldn't be good.

This morning, when I checked my Experian report, there was a MBNA inquiry added.

BUMMER! Did MBNA have to pull Experian? That's absolutely my worst report, with three negatives. My derogs are all over two years old but that still isn't good.

Fortunately, though, I don't really need the card. What I wanted to do was transfer the balance from one of my CapOne cards, combine the limit with my other CapOne card and close out the zero balance account. But I'll have to wait for another time to get that done.

Donna

 

I called this morning, they told me it was still pending. She said it usually takes about 3 days to get out of the pending state. Maybe I should call again.

 

Still pending...

 

mbna = declined 638 experian
amex = declined 638 experian.

i give up applying, not worth the inquiries.

 

Amex line of credit is not worth one SOFT inquiry? I beg to differ.

They do, however, seem to require very good credit for that product. "As low as 9.74%", and with yesterday's interest rate cut, 9.49% soon.


Saar

 

still pendind... I wish they would make a decision already!

 

they have made a decision, you'll get it in the mail soon. Amex is very "polite" in saying you're getting a denial letter in the mail, if you haven't dealt with them before..

 

They told JacquiG over the phone when she was denied. They have told me over the phone when I have been denied for their products in the past.

 

I was just rereading Saar's information on the Amex trade line and one thing stood out...you must have had an Amex account for at least 12 months. Amex will not waive this requirement. Anyone who was denied this may be the main reason why. Does anybody fit this description?

Dani

 

I called the number again, and went through the prompts as if I had an account. I entered the last 4 digits of my SSN for the pin number. I chose the option for Line of Credit. The voice told me an account number, said my balance was 0 and my available credit was 25k.

So I went on the web page, and created a login id using the account number I heard from the automated phone system, and it took it.

So, I think that means it is being approved fo 25k.

 

I don't have any AMEX accounts so that might have disqualified me. They did the soft AR on Experian despite that fact, though. Now I'm wondering what they are keeping in their database on me and I want my "privacy" restored but unless you "get" an account with them there is no way to opt out so now they have my application information to share as they like but I don't seem to be able to stop that. Any suggestions?

 

the other,

Congratulations. That's so great.

Dani
(who is sitting here dreaming about all the Baldwin Brass and Henkel Harris she could buy for the new home)

 

Thanks Dani!

I'm now trying to decide how I want to excersice my new line of credit.

I do hope Amex reports the limit on this!

 

Lowest % ?
YOUR F.I.C.O. RANGE?

 

Dani,

A small correction: I didn't say it has to be an Amex account. If you're otherwise eligible, any 12 (or more) month-old open tradeline should satisfy this requirement.


Saar