insufficient established credi

Discussion in 'Credit Talk' started by David D, May 5, 2000.

  1. David D

    David D Guest

    I applied for Blue from American Express back in February, but was denied due to "insufficient established credit." I know this means something different to each lender, but generally speaking, when do creditors consider one's credit "established." For example, I have one auto installment loan (15.5K) 5 months old, 2 credit cards (both unsecured) 3 months old. When I applied for the AMEX, all I had was the auto loan with 1 month payment history. Thanks for any help...
  2. ken

    ken Guest

    RE: insufficient established c

    you should just try and build up your credit rating by paying your credit card payments on time. american express is looking for a few years of payment history.

  3. Alex - Cre

    Alex - Cre Guest

    RE: insufficient established c


    It usually takes a couple of years to establish a solid credit history, from what you mention you're on the right track, keep making those payments on time and you should be ok. :)


    Free Credit Repair Information.
  4. RichGuy

    RichGuy Guest

    RE: insufficient established c

    David: I had a strange experience with Sears relating to this. I have had a card with Citibank for 6 years, yet this January Sears turned me down for three reasons, including "length of credit history." So I gather that a sufficient number of accounts would be at least two, since one doesn't constitute a history. As far as the length of an "established" account, my experience would indicate that a few months is sufficient.
  5. RichGuy

    RichGuy Guest

    A Minor Correction

    That is, a few months is sufficient to bump any mention of lack of history from the decline letters I receive. Also sufficient to obtain rather small or rather high-priced cards. As far as AmEx Blue goes, or Sears for that matter, several years may be what it takes.
    It doesn't have to be all or nothing. You can still work your way up to AmEx by getting other cards on progressively better terms. Your standard banks like Chase or Citibank will give you a fairly good deal.
  6. Jim

    Jim Well-Known Member

    RE: A Minor Correction

    I first started establishing credit in 1986, and got a $1,500 Sears account in 1991 with perfect A+ credit and in the neighborhood of eight solid prime tradelines. People told me that if you can get a Sears card, you can get credit anywhere. Maybe times have changed, who knows.

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