10-21-2012 10:50 AM
I applied online for the AMEX branded Delta Reserve for Business card a few days ago. I am going to be about 6,000 miles short of keeping my Delta medallion status end of this year and saw that this card offered a 10,000 MQM bonus for first usage. Perfect, get a new card and pick up the MQM I need to keep my status, or so I thought.
I received the standard "we are processing your application" email with a link to check the status online. Just had a moment to do so and I see I was declined. Should I take a shot at calling to see if there is anything I can do to get reconsidered or just let it go and try again before the end of the year?
I am fairly new to AMEX. I received my first card in 6/12 and it was the Platinum Delta card (personal). I applied for and received the Gold reward card for business in 7/12 as well as a personal Preferred Rewards Gold card about the same time. I was lucky enough to have a huge project that allowed me to charge over $110,000 between the 3 AMEX cards over the last 3 months. I made payments when I thought I needed to, never hitting a limit and never receiving notice to make a payment, always paying in full for charges up to that point and always well before statement due date. No declines on any of the cards. In other words I thought I was a good customer...
I was hoping to get the Reserve card for business use so I could try to separate card usage between business and personal (I am a sole proprietor so really it's all personal and business mixed just drives accountants nuts).
Any idea or opinions before I get on the phone and wind up looking like an idiot?
10-26-2012 02:49 PM
Oh man AMEX is not too easy to deal with over the phone! I tried calling 800-567-1083 and was not able to get much from the person other than you were declined and here is why. Basically too many inquiries on my report (EQ) and too short time with AMEX. I pulled my EQ free report because of the decline and 5 of the 9 inquiries were for my recent auto loan. All were approved, I was just rate shopping. 3 of the inquiries were AMEX and one was for Chase, I am sure my business card.
Tried calling number on back of my Business Gold and did not receive much help other than to try the 877-399-3083 number, they transferred me but it was just as rough. Foreign call center and was even less helpful.
So any advice on how to try to move forward? I'm feeling that if I can talk to the right person I can get somewhere. The bummer is I am a sole properties and even though I provided a FEIN with my application they are still wallowing around in my personal credit. It's to be expected but I was hoping they would at least consider that I have spent about $70,000 on my Business Gold card in past 3 months and always PIF before statement posts.
10-28-2012 09:09 AM
I finally received the denial letter. Almost all of the information given over the phone was incorrect (no shock there). Unless I can talk to a credit analyst calling is useless. I'm in the process of composing a letter that I will send to the Executive Offices in New York addressing each of the reasons for denial. The reasons in a nut shell were:
1. Number of accounts delinquent ( took a bit of searching to find 3 of them all 30 days or less from 6.5 years ago... Hardly an issue and I am sure they have seen worse).
2. Proportion of loan balances to loan amount too high (really? I just purchased an auto a few months ago so of course the balance is high. What the report does not show is the 50% CASH I put down. I'll have my Chase banker send them details if needed). The auto loan is the only loan I have.
3. Too many inquiries in last 12 months (another non issue, not like other AMEX card holders who "churn" cards don't have many more). I have 3 from AMEX (my other AMEX cards they gave me), 3 from auto lenders as I shopped for cars or deals and one from Verizon for phone and internet service when I switched at the office. No other CC apps at all.
What's a bit upsetting is that I applied for a business card using my FEIN number not my social. I understand as a sole proprietor they do check me personally but my business credit and trade lines are perfect. Chase actually does these correct. They must have SP for my Ink card as I have never seen a HP for CHase on any report except for the auto loan.
My hope is that someone at that location will look at my short but heavy record of spend and early PIF payments with AMEX and consider the shallow reasons above and see that I am a valuable customer.
I'll update when I hear a final decision. Wish me luck.
11-26-2012 09:29 PM
I mailed the reconsideration letter a bit late. The hurricane hit the NYC area and my fear was the offices would be slow. I decided to mail it to the location that sent the decline notice. After a couple of weeks I have given up hearing from them. I just checked to make sure all my AMEX cards were PIF and reapplied for the card. I again used my EIN and this time I got the "additional cards for employees" screen (might add one at a later point to get employee off my platinum sky miles card) then the pending "call us now" screen. Of course it's after midnight EST so I can't call tonight. I'll call tomorrow.
I'm hoping they just need to verify a few things for approval (trying not to get my hopes up) but if I get denied again at least I am speaking to a person that might be able to help. I have a couple of flights from FL to CA I need to book and wanted to use this card to get the 10,000 MQM with first purchase. Love Delta and AMEX but if I can't get some love I will be going to see my Chase banker tomorrow to have him apply for more Chase cards for business and travel. He actually calls me to check in.
11-27-2012 07:31 AM
Just called, they verified Name, address and SSN. Approved no other questions. Kinda odd based on earlier decline but whatever. Receiving card in 2-3 days. Now I don't need to do a mileage run to keep Delta status.
If you have approval iussues with AMEX apparently just keep trying.
11-27-2012 10:12 AM
11-30-2012 02:26 PM
11-30-2012 04:08 PM
Thanks for all the kind words.
It's gets better too. Got an email today from AMEX approving me for my new Delta Reserve for Business card and that I should expect to receive it in 2 to 3 days. Huh. I looked up the reference number and sure enough they seem to have approved my first application, the one I sent a letter for reconsideration. I checked the application status page and as expected BOTH are approved. The second one approved is in my pocket. Can't wait to receive my new new card. I'll call them at that point and see what to do.
I guess I found the exploit in the system. I should have applied for a different card the second time.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO