topic Re: Amex Recon in Credit Cards

Amex Recon

TSCAD — Wed, 21 Sep 2011 22:41:32 GMT

So today I applied for an Amex Blue Cash Preferred card and was denied. I sent in a recon letter via fax and I'll keep this post updated to the results of the recon.

I was slightly frustrated because Amex DID NOT pull a hard or soft report to generate their decision per the gentleman I spoke with in the executive offices. They stated on the report that I was denied because of a low FICO score and high revolving debt.

My current FICO scores are

Equifax: 755

Experian: 750

Transunion: 765

My total revolving debt is: $75 out of 18,600 available credit

My total vehicle loans are: $54,000

Never had a late payment, oldest credit card is 5 years, never had a bankruptcy, no public filings or creditor filings.

The representative that I spoke with stated that my FICO score in their system was under 650, and that was the reason most likely for the automatic denial of the application.

I do currently have the Costco Amex and have never been late/over credit limit on it either. Current balance on it is $0 and it is actively used.

Anyone heard of something like this happening to them?

Re: Amex Recon

csol47 — Wed, 21 Sep 2011 22:59:46 GMT

Amex told me my FICO was 640 on an app. My current FICO's are below and EX is almost identical to EQ in content. Denied on a charge card, sent a recon and it was approved. This was a few months ago. YMMV, I'm not sure, maybe it's a glitch and something old came up, or maybe they're using some FICO model that we don't have access to. Either way in this sort of situation it sounds like you have a good shot.

Re: Amex Recon

AustinTex21 — Wed, 21 Sep 2011 23:02:50 GMT

You should def call and maybe get someone else on the line who can try to run it through again and get it recon'd for you, you seem like the perfect potential customer, seems weird they wouldn't have taken the initiative to notice something was wrong and get it fixed while you were on the phone rather than make you keep calling back...let us know what happens.

Re: Amex Recon

dookdig — Wed, 21 Sep 2011 23:07:16 GMT

Do you put wrong SSN on application?

Re: Amex Recon

TSCAD — Wed, 21 Sep 2011 23:09:26 GMT

No I used the pre-filled out one because I currently have an account.

Re: Amex Recon

dookdig — Wed, 21 Sep 2011 23:16:18 GMT

Is $75 balance on non pre-set spending limit card like amex charge card or on visa signature or world mastercard and it happens to be highest balance on that account?

If yes, you have shown them 1 account with 100%UTI and their system just denied you based on too high UTI%.

Re: Amex Recon

TSCAD — Wed, 21 Sep 2011 23:18:02 GMT

No all my cards have limits.

Re: Amex Recon

CreditMuppet — Wed, 21 Sep 2011 23:34:23 GMT

TSCAD wrote:
So today I applied for an Amex Blue Cash Preferred card and was denied. I sent in a recon letter via fax and I'll keep this post updated to the results of the recon.

I was slightly frustrated because Amex DID NOT pull a hard or soft report to generate their decision per the gentleman I spoke with in the executive offices. They stated on the report that I was denied because of a low FICO score and high revolving debt.

My current FICO scores are
Equifax: 755
Experian: 750
Transunion: 765

My total revolving debt is: $75 out of 18,600 available credit
My total vehicle loans are: $54,000

Never had a late payment, oldest credit card is 5 years, never had a bankruptcy, no public filings or creditor filings.

The representative that I spoke with stated that my FICO score in their system was under 650, and that was the reason most likely for the automatic denial of the application.

I do currently have the Costco Amex and have never been late/over credit limit on it either. Current balance on it is $0 and it is actively used.

Anyone heard of something like this happening to them?

Where did you get those scores from?

Re: Amex Recon

TSCAD — Wed, 21 Sep 2011 23:54:33 GMT

Experian

Re: Amex Recon

CreditMuppet — Thu, 22 Sep 2011 00:05:40 GMT

In that case those are not FICO scores but FAKO's, and that's why you are seeing a difference. I would recommend purchasing your EQ and TU scores here at MyFico to get actual FICO scores, unfortunately you can not purchase your EX FICO from anywhere, not even from Experian directly

Re: Amex Recon

TSCAD — Thu, 22 Sep 2011 00:12:15 GMT

Ok well I purchased the 10 day trial ... well not purchased but yeah you get it. My fico score on this website for Equifax, because that's all it gives me, is 752. So it's a whole 3 points lower. Don't think that's gonna make it or break it!

Re: Amex Recon

csol47 — Thu, 22 Sep 2011 00:18:22 GMT

Sounds like an error on their part yea. But just to be sure, there isn't anything different on EX that might cause a drop in score? Also I wonder how AMEX internal risk score factors car loans (nothing to do with FICO, mere curiosity).

Re: Amex Recon

AustinTex21 — Thu, 22 Sep 2011 00:25:12 GMT

I don't believe they look negatively at car loans, the only reason I say that is because when I was approved with AMEX, I had just refinanced my Truck with my Credit Union from my old Bank, and on my report, it shows that I have two loans now, with a little bit different payment amounts, because I got a lower rate...and they never mentioned to me anything about it. I'm hoping the old loan closes soon, but it's been a good month since I've done that and it has yet to report closed...but anyways that's just my experience with that.

Re: Amex Recon

CreditMuppet — Thu, 22 Sep 2011 00:31:17 GMT

I would have to say assuming everything is the same on EX (no CO's or lates) you have a good chance at the recon with that score range, assuming you dont have excessive inquries. Your util looks perfect.

Re: Amex Recon

TSCAD — Thu, 22 Sep 2011 00:36:12 GMT

I have ~3 inquiries from Oct. of last year when I applied for a new car loan 1 for a card this year the Amex from Costco and ~2 that are associated with my business. Remember however that the gentleman that I spoke with said that their internal system had my FICO at ~110 lower than what it is.

Re: Amex Recon

CreditMuppet — Thu, 22 Sep 2011 00:59:31 GMT

TSCAD wrote:
I have ~3 inquiries from Oct. of last year when I applied for a new car loan 1 for a card this year the Amex from Costco and ~2 that are associated with my business. Remember however that the gentleman that I spoke with said that their internal system had my FICO at ~110 lower than what it is.

That may not be a FICO. It could be their internal score which is propritory and is calculated differently and is known to be what AMEX uses to qualify applicants.

Re: Amex Recon

snowangel — Thu, 22 Sep 2011 01:13:23 GMT

CreditMuppet wrote:
TSCAD wrote:
I have ~3 inquiries from Oct. of last year when I applied for a new car loan 1 for a card this year the Amex from Costco and ~2 that are associated with my business. Remember however that the gentleman that I spoke with said that their internal system had my FICO at ~110 lower than what it is.
That may not be a FICO. It could be their internal score which is propritory and is calculated differently and is known to be what AMEX uses to qualify applicants

I was also just denied due to my score being too low, and when I asked what it was, they specified that it was TU. The score they gave me was 65 points lower than what I get for TU here on myfico.

Re: Amex Recon

TSCAD — Thu, 22 Sep 2011 14:19:05 GMT

This morning, 24 hours after I submitted the recon, I called Amex to get the status of the application. The recon was successful and the card was granted. I asked the gentleman how much I was approved for and the number he gave me made me laugh to say the least. It's 1/5 of my lowest current card.

He advised me to wait 60 days and then request a CLI. We'll see how it goes from there. But for now I guess I have a partial success. I just have to watch my usage or I'll easily be over 30-40% or just pay it off before the billing cycle.

Thanks for the input and I hope that this helps someone else who may experience the same thing.