Cracking the code with Amex?

[nitrov]

I had a personal Amex Gold card in 2005 as well as a corporate Green card through my former employer from 2006-2008. Amex closed my Gold card in about 2007 for reasons unbeknownst to me.

When I left my company in 2008, my former employer didn't approve and pay out my final expense report, and after 90 days of non-payment on the account, I received an offer to PIF and get myself an Optima card with a $500 limit. I've now had this card since early 2008. 

The rules have changed a lot with this Optima card, I know you cannot do a PC, I know that NOW, according to Amex, you can apply for a new card and close the Optima once you are approved for the new card (which you used to not be able to do), and I know you cannot do a CLI on Optima either.

I need help with a plan of attack with Amex to get a new card with them. Last time they said I was "pre-approved" for a BCE, I apped (about 6 months ago) and got declined. Did some recon attempts (2 of them), to no avail.

I know a lot of people have been on the bad list with Amex, but have been able to dig themselves out. I've had no payment problems with the Optima whatsoever. That card is currently my oldest account, so I'll have to backdate if I get a new card eventually.

Can anybody give any input on this?

[nitrov]

Also, I do own a small business that has its own EIN. I know they still look at personal credit of the borrower in order to consider the app, but is it with the same level of scrutiny as a personal card?

I know auth users guidelines for them state they cannot have previously defaulted with Amex either, so I'm afraid if I open a business card under my business partner's name that they may decline me as an auth user. 

[myjourney]

First question is were you HP'd?

People on the so called balcklist are not HP'd 

So there's your first indication of were youy stand with AMEX

[nitrov]

I was told they didn't have to HP because they SP me due to the current account being open and my scores were too low for them based on my credit and "internal Amex scoring systems"...does that mean blacklisted or are they telling the truth?

[myjourney]

Ok I understand you know the Optima is still open?

I have only seen one case of approval with that card still being open and as a matter of fact it last week.

Normally Amex required people with that card to close it first then app

[tomfromrictmame]

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@myjourney wrote:

Ok I understand you know the Optima is still open?

I have only seen one case of approval with that card still being open and as a matter of fact it last week.

Normally Amex required people with that card to close it first then app

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+1  I was told this exact thing 3 months ago when I inquired.  This came not from a front line CSR but one of their credit specialists.

[FinStar]

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@tomfromrictmame wrote:

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@myjourney wrote:

Ok I understand you know the Optima is still open?

I have only seen one case of approval with that card still being open and as a matter of fact it last week.

Normally Amex required people with that card to close it first then app

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+1  I was told this exact thing 3 months ago when I inquired.  This came not from a front line CSR but one of their credit specialists.

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This would depend on how the product is coded internally.  In some instances there are individuals who don't have to cancel their Optima yet would be able to obtain a new product.  Other times, that's the only option to close and with no guarantee of approval.  There's really not a "code to crack" since AMEX's internal underwriting policies will vary by individual associated with previous experience with AMEX.

What were the list of reasons for denial the last time you tried?

[blondy250]

Your saying you have no idea why they closed your account? Did you call and ask?  Some major piece of the puzzle is being left out of your post, find out why they closed your account. Also whats your credit profile like, Fico score, lates, collections income etc.

[Kenny]

Why not just close the card and apply for new account? You have nothing to lose. The Optima is a small CL right? Is this your only trade line that you may utilize? Or are you worried about the HP each time you apply if you are not currently an Amex member? I totally understand that logic. --- However, I wasn't sure if the SP for denial existed with Optima.

Best of luck!

[sjt]

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@nitrov wrote:

Also, I do own a small business that has its own EIN. I know they still look at personal credit of the borrower in order to consider the app, but is it with the same level of scrutiny as a personal card?

I know auth users guidelines for them state they cannot have previously defaulted with Amex either, so I'm afraid if I open a business card under my business partner's name that they may decline me as an auth user. 

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I dont think you are on the blacklist since you have an Optima Card.