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Valued Contributor
dalebb
Posts: 1,424
Registered: ‎08-28-2010
0

Re: American Express "in progress" status

[ Edited ]

amex relies a lot on the computer, i just got off the phone with them, i wanted a BCP card when i applied for the blue (some many blue cards i got confused), so when i got the blue card i applied again for the BCP and it was canceled due to i had applied within 30 days for 2 amex cards, so they said i have to apply in 30 to 60 days again. they said even if they send me to underwriting it wont go thru.

Valued Member
SAIDFICOMUSTBEASCAMLOL
Posts: 85
Registered: ‎12-01-2007
0

Re: American Express "in progress" status

I'm in the same boat. Got a declined...but I called back for reconsideration. Check this out. I was curious if you guys think I'll get approved. My app status before  said I had derogatory account. I have no lates, no collections, nothing...BUT a BOA acct that was Paid for in full "for Less than the balance" (many years ago as a teen their was some funny business going on with my BOA LOC.) Anyways, I refused to pay them for the $ I did not use. They said no problem but listed as that.

I was young and did not know any better.

 

Ok here is the kicker. Last year I got my first AMEX card ( was an AU years ago like 2007...they closed that within 4 mths.) Anyways the same BOA acct was on my CR with no other credit cards except an Applied secured card with a 200 limit that I only had for maybe 3 or 6 mths. I had a lot of student loans and my debt was about $370k.

 

Well they approved me ... in fact it was a preselected approval. Now almost a year later,  I paid down over $270k in student loans ( thank goodness) and have about 100k+ in cash/store cards with a total debt balance of $103k and they will not give me a damn card. Sorry...damn came out. Flustered.

 

Here is why they closed my AMEX. You know the prepaid kids card? I transferred no more than $1500 total for my little brother and got flagged. Oh and I paid off my card in full every month MULTIPLE TIMES. The AM said I was buying a lot of gift cards. Then she FR me and wanted a 4506-T. I said no problem. I owned 100% of a million dollar company (got luckily on a deal) and had monies pass to me via a 1065 and 1099. She said I needed to let her see my 1040 for about 2 years. I explained to her my 1040 (because it was Dec) did not list all of my income from the present year 2011. She refused to let me document all of my income via business 4506-Ts as a personal corp. I straight up told her, well asked, why would anyone put over 100k on a 1040? That's crazy. She said, "if I was you I would close the account because it looks better." so I did.

 

I say all of this to say... do you think AMEX will approve my application being that Experian removed the BOA acct off and I proved that spending 3k a month for me is normal behavior.  I wonder if they can tell because I do at least 10k per month on my cards.  My application has been "in progress" for about four days now.

 

 

Established Contributor
JusdoNit
Posts: 921
Registered: ‎12-10-2011
0

Re: American Express "in progress" status

@ saidfico..... Whoa, but I am new to the board and am not experienced with AMEX at all.  Idk, but wishing you the best.

 

Me, I went through GE Dillard's. As a wise fellow myfico'r stated...I might not get there on the coveted Amex bus, but I have a ticket to the Amex party and I'm going. LOL


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

If your outGo is more than your INcome than your UpKeep will become your downFALL.

Take the FICO Fitness Challenge


Valued Member
SAIDFICOMUSTBEASCAMLOL
Posts: 85
Registered: ‎12-01-2007
0

Re: American Express "in progress" status

[ Edited ]

I applied for that too a couple of months ago. GE/GEMB does not approve me for anything unless the APR is CRAZY. I have with them:

 

Gap Card $1700

QVC $1000

Paypal $3000

Walmart $900

 

The one thing I like about them... every 3 to 4 months they will give you a CLI with no problem at all. My Gap card was issued around Sept/Oct 2010 with a $200 limit. It went to $700 than to $1100 and now $1700 (cuz my payment was $600.)

 

As for AMEX. I have a Penfed Amex with about 40k points and a USAA Amex with $7.93 cash back.  It sucks because I shop a LOT ..and I Foursquared a lot and could not get the extra point but found a way to get the stupid H&M discount by registering my closed (real) AMEX account. :-) I want a real AMEX account because of the perks. When they closed my account I had 70000 points that they would NOT let me redeem. Sucked big time. I'm yearning  for the Starwood AMEX because I get 20% off the Best Rate at all Starwood hotels and love to travel. It would be perfect for me. 

Valued Contributor
dalebb
Posts: 1,424
Registered: ‎08-28-2010
0

Re: American Express "in progress" status

so Said? im i reading reading right? u make over 6 figures a year? and u cant pay down ur debt? what r u scores and baddies?

Established Contributor
JusdoNit
Posts: 921
Registered: ‎12-10-2011
0

Re: American Express "in progress" status

Yeah, you are right. The apr is a bit stiffling, but this will be my PIF card.  I spend all cash at costco in store and gas. It will do good for us. For now anyways. 


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

If your outGo is more than your INcome than your UpKeep will become your downFALL.

Take the FICO Fitness Challenge


Valued Member
SAIDFICOMUSTBEASCAMLOL
Posts: 85
Registered: ‎12-01-2007
0

Re: American Express "in progress" status

FYI, I got declined for the AMEX Starwood card. They gave the same exact reason which is bogus because that BOA account is gone off Experian.


@dalebb


Experian 719 ( too many damn inquiries

 

Transunion 710 ( freaking sucks... there is a double account and no one will remove it. When I get the chance I'm going to BBB them and file in civil court for $35)

 

Equifax 748 ( because AU cards are not listed ...ex my credit is better than my mom but 2 of her accts are on my report and they are in good standing been open for years -- but for whatever reason keeps my score lower.)

 

I don't have any collections or lates at all. TMy only debt is my student loans and that cc. I paid off more than half of my student loans, which by the way are still in deferment. My debt last year was around $370k without any mortgage or car note. A year later, I'm at $103k (really less but the creditor reported the balance before the due date/closing.) I'm actually probably like low $80k.

 

Anywho, the one credit card I have a balance on  is PSECU and I pay that off slowing because underwriters ( i.e.. Discover) said "we like to see usage." I told the guy, will I use my card ( at the time it was Virgin America- which got closed because I paid off most of my my student loans and paid my 3k limit off every month...the rep said HOW CAN YOU AFFORD TO PAY ... I mentioned this in another post on here.)

 

Anyways, I'm still not even 30, and I'm probably going to take more classes next year to keep my skills fresh so my loans that I do have left will remain deferred...so I have no plans of paying debt down...not a matter of affording it. 

 

As for my salary... what about it? I have a LOT of responsibilities more than the average Joe/Jane because I am still young, a SINGLE parent, student, and employer. I live in a major city so the cost of living is really high. $100k is not enough to even think you'll 'rich' where I'm from. Average 2 bedroom apt is over $3000 per mth... I can't reduce my cost of living because of my industry and need to reside here. So even if I'm SPENDING over 6 digits per year, for my market I'm still broke...and I guess AMEX knows it. :smileyhappy:

 

 

BTW, remember I'm self employed ( own the corp) so even if I make a ZILLION dollars this year, next year I can make $0. This has happened to me. My first company was doing good for years and finally flopped last year. Luckily I started my second biz two years prior because I saw a change in the behavior of my demo. I said all of that to say its "hustle" money. I may get a lump sum at one time, but Gods knows if I'll get the same amount again. That's why I don't take my salary seriously. On paper it looks good, but I have a realistic view about it all. 

 

Pardon me if there are typos... typing while walking down the street. 

Super Contributor
CS800
Posts: 6,552
Registered: ‎04-07-2008
0

Re: American Express "in progress" status


SAIDFICOMUSTBEASCAMLOL wrote:

FYI, I got declined for the AMEX Starwood card. They gave the same exact reason which is bogus because that BOA account is gone off Experian.


@dalebb


Experian 719 ( too many damn inquiries

 

Transunion 710 ( freaking sucks... there is a double account and no one will remove it. When I get the chance I'm going to BBB them and file in civil court for $35)

 

Equifax 748 ( because AU cards are not listed ...ex my credit is better than my mom but 2 of her accts are on my report and they are in good standing been open for years -- but for whatever reason keeps my score lower.)

 

I don't have any collections or lates at all. TMy only debt is my student loans and that cc. I paid off more than half of my student loans, which by the way are still in deferment. My debt last year was around $370k without any mortgage or car note. A year later, I'm at $103k (really less but the creditor reported the balance before the due date/closing.) I'm actually probably like low $80k.

 

Anywho, the one credit card I have a balance on  is PSECU and I pay that off slowing because underwriters ( i.e.. Discover) said "we like to see usage." I told the guy, will I use my card ( at the time it was Virgin America- which got closed because I paid off most of my my student loans and paid my 3k limit off every month...the rep said HOW CAN YOU AFFORD TO PAY ... I mentioned this in another post on here.)

 

Anyways, I'm still not even 30, and I'm probably going to take more classes next year to keep my skills fresh so my loans that I do have left will remain deferred...so I have no plans of paying debt down...not a matter of affording it. 

 

As for my salary... what about it? I have a LOT of responsibilities more than the average Joe/Jane because I am still young, a SINGLE parent, student, and employer. I live in a major city so the cost of living is really high. $100k is not enough to even think you'll 'rich' where I'm from. Average 2 bedroom apt is over $3000 per mth... I can't reduce my cost of living because of my industry and need to reside here. So even if I'm SPENDING over 6 digits per year, for my market I'm still broke...and I guess AMEX knows it. :smileyhappy:

 

 

BTW, remember I'm self employed ( own the corp) so even if I make a ZILLION dollars this year, next year I can make $0. This has happened to me. My first company was doing good for years and finally flopped last year. Luckily I started my second biz two years prior because I saw a change in the behavior of my demo. I said all of that to say its "hustle" money. I may get a lump sum at one time, but Gods knows if I'll get the same amount again. That's why I don't take my salary seriously. On paper it looks good, but I have a realistic view about it all. 

 

Pardon me if there are typos... typing while walking down the street. 


Pay attention to the damn road :smileyhappy:





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