Credit Card Denial Due to Low Credit Reporting Score

Posted On: April 6, 2006

Author: creditnewbie
Posted: Tue Aug 02, 2005 6:56 pm
Post subject: what do I do?

I have a Visa and a MC with $28K total credit limit. I charged 43% last month and paid it in full already; however, my equifax score is 663 because it shows the high balances that I already paid. The funny thing is, I haven’t been receiving any pre-approved offers for a few months and now, I get new offers almost every day. Some are good ones like 0% APR for 15 months from Blue Cash Amex and Chase flexible rewards visa signature with 7.99 Fixed APR after introductory offer expires. my credit history is very short. Visa since 9/2003, and MC since 3/2005. What I really want is starwoods cc from AMEX but waiting until next year so that my history is a little longer. My question is: If I apply to these cards, will I get denied due to the low score? If I wait until the offers expire and my score get higher above 750 next month, would they still honor these offers? Also, is it a bad time to request credit line increase since my score right now is too low?

You’ll need to wait some weeks more until it appears in your credit report.
However if you didn’t have any lates, or collections or charge-off in your report , actually you can make the application for these cards.

I don’t have any negatives on my credit report. Only 2 credit cards and 1 inq by car dealer. I noticed that most people with scores under 700 didn’t get high credit limits from the “whopulledmycredit” yahoo group.
I requested an increase on my visa online and was granted $2000 without inq. my limit now is 20K, and it started with 1K secured in 9/03 I only want a starwood amex, so I’ll wait until my score is highest so that I get a high limit. Do you know if it matters whether you are pre-approved or you just apply online?

creditnewbie wrote:
I don’t have any negatives on my credit report. Only 2 credit cards and 1 inq by car dealer. I noticed that most people with scores under 700 didn’t get high credit limits from the “whopulledmycredit” yahoo group.
I requested an increase on my visa online and was granted $2000 without inq. my limit now is 20K, and it started with 1K secured in 9/03 I only want a starwood amex, so I’ll wait until my score is highest so that I get a high limit. Do you know if it matters whether you are pre-approved or you just apply online?

your “low” is due to a lack of credit history , so you’ll will not have any problems to apply for Amex. But have to wait some weeks (until 6 weeks) , to appear the payments in your credit report.