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Valued Member
Goose7
Posts: 34
Registered: ‎02-17-2013

AMEX Green Denied

I recently applied for the AMEX Green card and was instantly denied. I got the letter in the mail yesterday and I am now going to post as to the reasons why. If anyone could help decipher what it says that would be a great help. Any help on what to do to improve my chances will be appreciated.

 

 

 

Length of time accounts have been established (Experian)
In our estimation the amount you have paid on your bank and retail credit card accounts over the last twelve months is too low. (Experian)
High Utilization of credit lines or insufficient utilization information (Experian)
Amount of credit available on accounts (Experian)

FICO score pulled on March 11 = 709   (¿Assuming Experian?)






Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: AMEX Green Denied

Not sure what your asking it seems pretty straight forward.

-your cards have not been opened for a long period of time
-you dont pay enough on your balances monthly for their liking
-your using too much of your credit
-you dont have enough credit left on accounts to their liking

Is all of this true? Also that is an EX FICO.



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Frequent Contributor
Jayb5635
Posts: 317
Registered: ‎08-02-2012

Re: AMEX Green Denied

I would say first off give us an idea of your portfolio. What cards do you have, length of history owning those cards, any loans, how much you owe on everything, your payment history, do you pay less than full balance, income, etc.


In my wallet: Amex Platinum NPSL, Amex Everyday Preferred $4500, Amex Starwood $1000, Chase Freedom Visa Signature $5000, Chase Sapphire Preferred Visa Signature $10,000, Chase Ink Plus Visa Signature $5000 Barclaycard Arrival Plus MasterCard World Elite $5000, Cap One Quicksilver MasterCard $2000, Citi Forward Visa $3800, Discover IT $5000
Senior Contributor
Open123
Posts: 4,032
Registered: ‎02-23-2011

Re: AMEX Green Denied


LS2982 wrote:
Not sure what your asking it seems pretty straight forward.

-your cards have not been opened for a long period of time
-you dont pay enough on your balances monthly for their liking
-your using too much of your credit
-you dont have enough credit left on accounts to their liking

Is all of this true? Also that is an EX FICO.

+1

 

Amex prefers to see usage and amounts paid on balances beyond a certain minimum threshold before approval.  For instance, even if you had low utilization, but only use and pay $10 per month, they still may decline for not using and paying cards enough.

Valued Member
Goose7
Posts: 34
Registered: ‎02-17-2013

Re: AMEX Green Denied

[ Edited ]

 

Inquiries
Chase                             09/13/11
Sprint                             10/22/11

Wells Fargo                    04/06/12

Best Buy                        07/03/12

 

Cards                       Date Opened           Limit
WF Secured                 04/08/12               $300
Macy's                         08/01/12               $1000

 

Balances (At time of application)
Macy's - $0

WF - $207

 

As far as paying off my balances quickly, I am guilty of paying the minimum payment for months on end, but that was before I discovered this website. Now I PIF before the payment date...But I guess the damage had been done.






Moderator
Revelate
Posts: 8,416
Registered: ‎12-30-2011

Re: AMEX Green Denied


Goose7 wrote:

 

Inquiries
Chase                             09/13/11
Sprint                             10/22/11

Wells Fargo                    04/06/12

Best Buy                        07/03/12

 

Cards                       Date Opened           Limit
WF Secured                 04/08/12               $300
Macy's                         08/01/12               $1000

 

Balances (At time of application)
Macy's - $0

WF - $207

 

As far as paying off my balances quickly, I am guilty of paying the minimum payment for months on end, but that was before I discovered this website. Now I PIF before the payment date...But I guess the damage had been done.


Most of us wouldn't have found this forum if we hadn't made mistakes previously.  Also this is emminently recoverable, try again in six months if the card still interests you.  From anecdotal experience I was floating a balance through April-May, and then was approved in October for a charge card last year.

 

Amex likes two things: big spenders, and people paying in full (at least for their charge card products, which you applied for).  

 

At least on EX the payments are reported.  I wouldn't ever spend more than I could comfortably afford chasing any bonus or individual card; however, now that you mention it, it's probably factors into their decision, and likely one of the reasons I got my fairly absurd Amex approvals: I spend enough, and pay in big chunks.  

 

I'm sorry the application didn't work out for you, but I appreciate the mental prod in getting me to look at it a little differently.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Member
Goose7
Posts: 34
Registered: ‎02-17-2013

Re: AMEX Green Denied

I wish I could spend more but that $300 limit doesn't really leave me a lot of leverage..without getting really high utilization. The good thing is that my WF turns one year in April. I'm going to give WF a call and see if they will raise my limit to at least $1000.
As far as that goes I don't think I'll be applying for an AMEX card anymore at least until they start sending me offers, I'll look around for other cards. Chase Freedom is also alluring...






New Contributor
omgitsphilly
Posts: 66
Registered: ‎01-06-2013

Re: AMEX Green Denied

I got one last thursday. 

 

I have 10 months of credit being used. Prior to that NO credit at all. I had 2 capital one secured cards. To help me build. I am sorry you got instantly denied. I hope you try again soon. 

Valued Contributor
dodgerslv
Posts: 1,693
Registered: ‎06-16-2012

Re: AMEX Green Denied


Goose7 wrote:

I wish I could spend more but that $300 limit doesn't really leave me a lot of leverage..without getting really high utilization. The good thing is that my WF turns one year in April. I'm going to give WF a call and see if they will raise my limit to at least $1000.
As far as that goes I don't think I'll be applying for an AMEX card anymore at least until they start sending me offers, I'll look around for other cards. Chase Freedom is also alluring...


Sorry to hear about your denial. Just a little informantion on the WF secured one as i have one also. Unless they give you an auto CLI on your card the only way to raise your limit is if you add more funds to the card. The good thing about that is you can add money as many times as you would like without affecting your credit. I started with 300 limit also and just kept adding funds to it and now its at 4000. Hopefully your cards graduate next month but if it doesnt just keep adding funds and making large payments on it. Good luck!



biggest limits: BofA Privilege (33K)/ BofA Cash Rewards (27k)/ Citi AA WEMC (26k)/ Penfed Rewards (22.5k)/ Chase United Explorer (22k)
Fico 08 scores (6/21/14) EX: 758 TU: 759 EQ: 755 (high Utilization for me at the moment @10% so gardening mode).





Member
TyLey
Posts: 29
Registered: ‎01-05-2009

Re: AMEX Green Denied

AMEX is pretty funny. They approve my brother the first time he applied. He's younger than me and gets paid less.  They denied me 2x and I had a great score.  The last time their excuse was too many inquires which I only had 2 then when I called to recon they said my score was at 630 which wasn''t true because I got the Chase Sapphire with the lowest interest rate the same time I applied for that card.  Some of us get denied while others get are approved with little to no credit. It happens.You can try to get your credit limits increased if you can or  just give it a couple of months.



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