Applied for American Express card but it says “declined, no credit history.” Why?
Question:
I recently applied for an American Express card and it said that I got declined because I don’t have sufficient credit history and that the credit cards that I have have not been open long enough… the question is, how long would long enough be? 6 months?
I recently turned 18 and have 2 credit cards. Payments have been made on time… I believe I applied for the cards about 4 months ago.
Answer:
You haven’t been eligible for credit long enough to show how you’ll handle it. AMEX is a hard card to get.
If you have 2 credit cards, and are making timely payments, you’re on the right track. Don’t charge more than you can pay for…the long answer had a lot of good advice, so I won’t repeat it all. And you probably don’t need any more credit cards, except maybe a gas card for security.
Just be patient. Building a good credit history takes time, and you just haven’t had the time yet.
