topic Re: Amex denied.... again..... in Credit Cards

Amex denied.... again.....

GBPac12 — Fri, 23 Mar 2012 02:10:44 GMT

Hey y'all,

I just can't take it anymore, Amex is killing me :smileyvery-happy:. I have applied for the Amex BCE and been denied for about the 4th time :(.

I have tried to recon but I allways get a CSR who seems like they are reading a script, repeating everything three to four times.

Well, anyway, this is the status report:

Thank you for your recent application for Blue Cash EverydaySM . We do value your desire to establish a relationship with us. We regret that we are unable to approve your request.

Reason(s) for Our Decision

We evaluated your application using a credit scoring system that considers various pieces of information, including your credit report. The following key factors contributed to our evaluation:

Amount of credit available on accounts (Experian)

Your FICO? score (See below)

High utilization of credit lines or insufficient utilization information (Experian)

Number of trades (Experian)

Information About Your FICO? Score

We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On March 19, 2012, your FICO score was 716. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:

Length of time accounts have been established.

Too many inquiries last 12 months.

Lack of recent installment loan information.

Too few accounts currently paid as agreed.

I really cannot understand as to why this is the issue? I have: about $4,800 CL, 4 CCs, s Student loans, my utilization was less then one percent, and no baddies?

Re: Amex denied.... again.....

crunching_numbers — Fri, 23 Mar 2012 02:13:45 GMT

Have you checked your EX CR? Sound like they are seeing something different from what you think is there.

Re: Amex denied.... again.....

GBPac12 — Fri, 23 Mar 2012 02:15:52 GMT

The funny thing is that I actually pulled my EX CR via Discover Credit Score tracker, to see if last account balance zeroed out, and then preceded to apply about 2-3 hours later.

Re: Amex denied.... again.....

Walt_K — Fri, 23 Mar 2012 02:15:28 GMT

What's your total credit history and AAoA? Are you new to credit? You didn't burn Amex in a prior credit life did you?

With the info you provided, doesn't seem to make a lot of sense. I'd suggest trying another recon. But maybe you should also try getting a charge card and then apping for the revolver 6 months later.

Re: Amex denied.... again.....

GBPac12 — Fri, 23 Mar 2012 02:19:58 GMT

Walt_K wrote:
What's your total credit history and AAoA? Are you new to credit? You didn't burn Amex in a prior credit life did you?

With the info you provided, doesn't seem to make a lot of sense. I'd suggest trying another recon. But maybe you should also try getting a charge card and then apping for the revolver 6 months later.

My oldest account is 2.2 years old, and my AAoA is 1 year. The BCE would have been my first Amex card. To be honest, I am still not to famlarir with the recon procces. I mean I called the backdoor number and was told that they could not do a manual review but that they would send my profile to an underwriter and then pull my CR again. I figured that 11 inquries is a bit too much, where my last was in Jan, so I decided not to go through it.

Re: Amex denied.... again.....

LS2982 — Fri, 23 Mar 2012 02:20:10 GMT

Walt_K wrote:
What's your total credit history and AAoA? Are you new to credit? You didn't burn Amex in a prior credit life did you?

With the info you provided, doesn't seem to make a lot of sense. I'd suggest trying another recon. But maybe you should also try getting a charge card and then apping for the revolver 6 months later.

Go for charge card 1st

Re: Amex denied.... again.....

GBPac12 — Fri, 23 Mar 2012 02:23:36 GMT

LS2982 wrote:
Walt_K wrote:
What's your total credit history and AAoA? Are you new to credit? You didn't burn Amex in a prior credit life did you?

With the info you provided, doesn't seem to make a lot of sense. I'd suggest trying another recon. But maybe you should also try getting a charge card and then apping for the revolver 6 months later.

+1

Go for charge card 1st

I was actually thinking that, but I am a student and don't spend enough to justify a 95 AF. I know that I can cancel the card after a the AF promo is done, but that wouldn't look to good with Amex. LOL. Maybe some people are just not meant to be Amex Cardholder :smileyembarrassed:.

Re: Amex denied.... again.....

LS2982 — Fri, 23 Mar 2012 02:25:16 GMT

GBPac12 wrote:
LS2982 wrote:
Walt_K wrote:
What's your total credit history and AAoA? Are you new to credit? You didn't burn Amex in a prior credit life did you?

With the info you provided, doesn't seem to make a lot of sense. I'd suggest trying another recon. But maybe you should also try getting a charge card and then apping for the revolver 6 months later.

+1

Go for charge card 1st
I was actually thinking that, but I am a student and don't spend enough to justify a 95 AF. I know that I can cancel the card after a the AF promo is done, but that wouldn't look to good with Amex. LOL. Maybe some people are just not meant to be Amex Cardholder :smileyembarrassed:.

Go for AMEX Zync.............$0 AF 1st year $25 from there.

Re: Amex denied.... again.....

Idiotsavant — Fri, 23 Mar 2012 02:25:58 GMT

Well from what I have seen in the threads, 716 is a smidge under the usual 720+ AMEX likes to see when they give you their revolvers. Also, your file is still a bit thin because you are new to credit. I would give it some time and try again, or just wait 30 days and go for the zync card.

Re: Amex denied.... again.....

webhopper — Fri, 23 Mar 2012 02:26:16 GMT

The annual fee for Zync is 25 bucks, Zync is a good starter card with amex

Re: Amex denied.... again.....

bichonmom — Fri, 23 Mar 2012 02:26:55 GMT

Amex doesn't recon like other CCs do. You need to specifically address and rectify the reasons in their denial.

What is your util? What are your other CCs and CLs?

It sounds like maybe they're seeing only lower limit cards and/or higher util. Amex is VERY picky about util, among other things!

Re: Amex denied.... again.....

LS2982 — Fri, 23 Mar 2012 02:28:15 GMT

bichonmom wrote:
Amex doesn't recon like other CCs do. You need to specifically address and rectify the reasons in their denial.

What is your util? What are your other CCs and CLs?

It sounds like maybe they're seeing only lower limit cards and/or higher util. Amex is VERY picky about util, among other things!

I probably would have gotten mine the 1st app. if my util. was 8% from the get go.

Re: Amex denied.... again.....

GBPac12 — Fri, 23 Mar 2012 02:32:35 GMT

bichonmom wrote:
Amex doesn't recon like other CCs do. You need to specifically address and rectify the reasons in their denial.

What is your util? What are your other CCs and CLs?

It sounds like maybe they're seeing only lower limit cards and/or higher util. Amex is VERY picky about util, among other things!

My current CC collection is as follows:

Discover More: 3/2000 CL

Chase Freedom 0/800 CL

BankAmericard 123 Rewards: -13/1000

DFCU Financial CU Platinum: 0/1000

I recived my Discover 2 years ago, Chase in 8/11 and BankAmericard/DFCU on 1/2012.

All the above was reported on my CR before I applied.

Re: Amex denied.... again.....

LS2982 — Fri, 23 Mar 2012 02:32:38 GMT

GBPac12 wrote:
bichonmom wrote:
Amex doesn't recon like other CCs do. You need to specifically address and rectify the reasons in their denial.

What is your util? What are your other CCs and CLs?

It sounds like maybe they're seeing only lower limit cards and/or higher util. Amex is VERY picky about util, among other things!

My current CC collection is as follows:
Discover More: 3/2000 CL
Chase Freedom 0/800 CL
BankAmericard 123 Rewards: -13/1000
DFCU Financial CU Platinum: 0/1000

I recived my Discover 2 years ago, Chase in 8/11 and BankAmericard/DFCU on 1/2012.

You should be fine getting the Zync.

Re: Amex denied.... again.....

GBPac12 — Fri, 23 Mar 2012 02:35:14 GMT

LS2982 wrote:
GBPac12 wrote:
bichonmom wrote:
Amex doesn't recon like other CCs do. You need to specifically address and rectify the reasons in their denial.

What is your util? What are your other CCs and CLs?

It sounds like maybe they're seeing only lower limit cards and/or higher util. Amex is VERY picky about util, among other things!

My current CC collection is as follows:
Discover More: 3/2000 CL
Chase Freedom 0/800 CL
BankAmericard 123 Rewards: -13/1000
DFCU Financial CU Platinum: 0/1000

I recived my Discover 2 years ago, Chase in 8/11 and BankAmericard/DFCU on 1/2012.
You should be fine getting the Zync.

I think so too, but I really never like the Zync card, mainly because it isn't "upgradeable" lol. But thank you for the advice guys. I will just have to try and fax them my CR and go over the details. Wish me luck!!!!

Re: Amex denied.... again.....

LS2982 — Fri, 23 Mar 2012 02:37:09 GMT

GBPac12 wrote:
LS2982 wrote:
GBPac12 wrote:
bichonmom wrote:
Amex doesn't recon like other CCs do. You need to specifically address and rectify the reasons in their denial.

What is your util? What are your other CCs and CLs?

It sounds like maybe they're seeing only lower limit cards and/or higher util. Amex is VERY picky about util, among other things!

My current CC collection is as follows:
Discover More: 3/2000 CL
Chase Freedom 0/800 CL
BankAmericard 123 Rewards: -13/1000
DFCU Financial CU Platinum: 0/1000

I recived my Discover 2 years ago, Chase in 8/11 and BankAmericard/DFCU on 1/2012.
You should be fine getting the Zync.
I think so too, but I really never like the Zync card, mainly because it isn't "upgradeable" lol. But thank you for the advice guys. I will just have to try and fax them my CR and go over the details. Wish me luck!!!!

Think of the Zync as a stepping stool to getting your BCE. You have to crawl before you walk................

Re: Amex denied.... again.....

webhopper — Fri, 23 Mar 2012 02:37:48 GMT

I think it is upgradeable, you can upgrade to a different charge card product, but you must meet their criteria for the new product. I think also you don't need to upgrade it, just use it for what it was meant to do, and apply for a revolver later.

Re: Amex denied.... again.....

GBPac12 — Fri, 23 Mar 2012 02:44:47 GMT

Think of the Zync as a stepping stool to getting your BCE. You have to crawl before you walk................

True, but chances are that I will use my BCE exclusively over the Zync. I just hate closing card and am pretty sure that this would be the route I would take if I decide to apply for the Zync.

Re: Amex denied.... again.....

trumpet-205 — Fri, 23 Mar 2012 02:46:45 GMT

My FICO score is 737 and I even have ZYNC beforehand!

Guess what? AMEX denied me three times already. Really thinking about closing ZYNC.

Re: Amex denied.... again.....

ctb89 — Fri, 23 Mar 2012 02:47:05 GMT

webhopper wrote:
I think it is upgradeable, you can upgrade to a different charge card product, but you must meet their criteria for the new product. I think also you don't need to upgrade it, just use it for what it was meant to do, and apply for a revolver later.

I have the Green so I can't say for sure but I believe other Zync holders here have said there is no PC available from Zync to other products.