Amex PRG recon

[red259]

So as I posted awhile back I applied for an Amex PRG and was declined. I got the letter today and it states the following reasons in order: Too many new accounts (is this based on inquiries alone because I don't think either of my cards are reporting yet), My fico score (699), credit report indicates few or no credit card accounts, our evaluation of the inquiries on your credit report based on the number, type and recency .

I have read other people have reconned and similiar situations with success, but it looks like it cost them a second HP for the manual review. Is there any point to trying to recon? Some people have indicated on recon the reps were able to tell them when they may be able to obtain approval in the future. I'm not really interested enough to justify yet another HP, but I would be interested in someone from Amex telling me where I stand in terms of future applications with them. Any thoughts on if I should do any sort of follow-up or just wait it out? I am planning on the CSP and Bold applications in Jan, and maybe an amex prg at that time, however I was considering forgoing the charge and trying for a revolver in a year. 

[daybreakgonesXe]

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@red259 wrote:

So as I posted awhile back I applied for an Amex PRG and was declined. I got the letter today and it states the following reasons in order: Too many new accounts (is this based on inquiries alone because I don't think either of my cards are reporting yet), My fico score (699), credit report indicates few or no credit card accounts, our evaluation of the inquiries on your credit report based on the number, type and recency .

I have read other people have reconned and similiar situations with success, but it looks like it cost them a second HP for the manual review. Is there any point to trying to recon? Some people have indicated on recon the reps were able to tell them when they may be able to obtain approval in the future. I'm not really interested enough to justify yet another HP, but I would be interested in someone from Amex telling me where I stand in terms of future applications with them. Any thoughts on if I should do any sort of follow-up or just wait it out? I am planning on the CSP and Bold applications in Jan, and maybe an amex prg at that time, however I was considering forgoing the charge and trying for a revolver in a year. 

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Hey, red! Although I'm not exactly sure if a second hard pull is always a surefire thing with AMEX recon's, if you're really afraid of it, I'm sure you can simply call them to discuss your reasons for decline and ask for advice on how to receive an approval, and how much later you should apply.

All the best!

[myjourney]

Amex is hard to recon and usually involves faxing in a new CR and they will still pull HP 

unless you can find an Error on your CR that caused the denial

Tough recon

[gstq34]

Not sure I have seen 1 recon success story with them.  I HAVE seen they like 720 and up.

[GaTech]

Wait a little bit (6 months) and try again. Good luck!

[09Lexie]

Sorry for denial. Like myjourney stated, their recons require a faxed cr showing an error on your cr they pulled. Just wait and try again.

[red259]

I called Amex to try to get more info. Of course, my call was routed to India and while the guy was much nicer than the woman I spoke to the first time (when I checked my application) he didn't have any sort of clue or useful information for me. I really feel I understand credit better than he did. I found when speaking to Chase the reps are able to tell me in much more detail when I will be in a better position to receieve approval. This is probably because the chase recon people are actually there for recon and the amex number I was given to call with questions just redirects me into new accounts.  

[myjourney]

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@red259 wrote:

I called Amex to try to get more info. Of course, my call was routed to India and while the guy was much nicer than the woman I spoke to the first time (when I checked my application) he didn't have any sort of clue or useful information for me. I really feel I understand credit better than he did. I found when speaking to Chase the reps are able to tell me in much more detail when I will be in a better position to receieve approval. This is probably because the chase recon people are actually there for recon and the amex number I was given to call with questions just redirects me into new accounts.  

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New accounts are the people that can approve or deny. That's who I spoke with when a computer glitch had my app showing in progress for 24 hours didn't have to answer any questions just verify my ss# but mine was not a denial YMMV

Good luck