Amex Reconsideration Help

[victornewman]

So I applied for an Amex Green charge and was immediately denied.  I am an AU on a 10 yr old Amex with perfect payment history and have perfect payment history on my accounts.  The denial letter came today with these reasons:

Number of credit card accounts opened recently (3 new cards showing on report in last 4 months)

Number and type of accounts opened recently

Inquiries (6 in past year)

I called the EO and they transferred me to what sounded like India and I was told that there was a possibility that another credit pull would be required for reconsideration so I didn't go further with my request.

Basically, I just wanted to know if this is true.  Will it cost me another hard pull for reconsideration?  They just pulled my credit report less a week ago so I don't know why they would need to pull my credit again. 

The only reason I want an Amex of my own is because it would be backdated to the late 80's.

Thanks for your help. 

[ojefferyo]

It may or may not be true, but I dont think they should since they already have one from a week ago unless they wan to pull from a different CB.

[coldnmn]

They are allowed to pull all three credit reports if your border line of being approved and no  guarantees. 

[Anonymous]

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@coldnmn wrote:

They are allowed to pull all three credit reports if your border line of being approved and no  guarantees. 

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Sadly this is becoming more widespread.

[hardworkrebuilding]

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@coldnmn wrote:

They are allowed to pull all three credit reports if your border line of being approved and no  guarantees. 

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OP, not only is coldmn correct.  But look at it this way.  3 years ago Amex pulled all 3 of my reports and granted me with a 5K credit limit and 22.99% APR.  Now, Amex is my favorite card (SPG) with a 31,900 CL and 12.24% APR.  If you think long term, a pull from each bureau may be worth it.

[09Lexie]

Recons with Amex are most successful when there was a fundamental change in your CRs since the app, ie a charge off or CA being removed.  They are not looking for an explanation for the condition of your file but an error that will increase your chance of approval - the only way they can do that is if they pull an updated CR.

If, you want to write a letter of explanation and explain the reasons for the inqs (perhaps you were auto shopping) and fax over a copy of your current CR to their Media Dept- you may avoid the HP. 

[victornewman]

Thank you so very much for your advice.  One thing that I love about this forum is that everyone is so supportive and kind.

Thanks again and Happy Thanksgiving to everyone.

[Anonymous]

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@victornewman wrote:

So I applied for an Amex Green charge and was immediately denied.  I am an AU on a 10 yr old Amex with perfect payment history and have perfect payment history on my accounts.  The denial letter came today with these reasons:

Number of credit card accounts opened recently (3 new cards showing on report in last 4 months)

Number and type of accounts opened recently

Inquiries (6 in past year)

I called the EO and they transferred me to what sounded like India and I was told that there was a possibility that another credit pull would be required for reconsideration so I didn't go further with my request.

Basically, I just wanted to know if this is true.  Will it cost me another hard pull for reconsideration?  They just pulled my credit report less a week ago so I don't know why they would need to pull my credit again. 

The only reason I want an Amex of my own is because it would be backdated to the late 80's.

Thanks for your help. 

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First off I was in a similar situation. If you are transfered to India, hang up. 

I also find it kind of funny/cruel at the same time that a CC would state the terms of denial as too many inquiries, and what do they want to do to recon the app? Oh ya, they want to pull again, surely that would help 

All you have to do is get in touch with the right American agent, and sound like you know your stuff. If you can explain your stuff clearly you have a great shot. By the way I appologize. I had 6 inquires, 3 new accounts (credit) as well. They were opened 4 1/2 months ago. I can only wonder what is going on with Amex there. I also got fairly well terms with a low interest rate, and a matching credit limit to my preexisting highest limit. However, I am in a battle with them over the sign-up bonus. All and all I think you should have an excellent shot at reconing this with Amex. Just make sure to get the Americans.

Mod cut- deleted disparaging comments

[Anonymous]

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@Anonymous wrote:

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@victornewman wrote:

So I applied for an Amex Green charge and was immediately denied.  I am an AU on a 10 yr old Amex with perfect payment history and have perfect payment history on my accounts.  The denial letter came today with these reasons:

Number of credit card accounts opened recently (3 new cards showing on report in last 4 months)

Number and type of accounts opened recently

Inquiries (6 in past year)

I called the EO and they transferred me to what sounded like India and I was told that there was a possibility that another credit pull would be required for reconsideration so I didn't go further with my request.

Basically, I just wanted to know if this is true.  Will it cost me another hard pull for reconsideration?  They just pulled my credit report less a week ago so I don't know why they would need to pull my credit again. 

The only reason I want an Amex of my own is because it would be backdated to the late 80's.

Thanks for your help. 

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First off I was in a similar situation. If you are transfered to India, hang up

I also find it kind of funny/cruel at the same time that a CC would state the terms of denial as too many inquiries, and what do they want to do to recon the app? Oh ya, they want to pull again, surely that would help 

All you have to do is get in touch with the right American agent, and sound like you know your stuff. If you can explain your stuff clearly you have a great shot. By the way I appologize. I had 6 inquires, 3 new accounts (credit) as well. They were opened 4 1/2 months ago. I can only wonder what is going on with Amex there. I also got fairly well terms with a low interest rate, and a matching credit limit to my preexisting highest limit. However, I am in a battle with them over the sign-up bonus. All and all I think you should have an excellent shot at reconing this with Amex. Just make sure to get the Americans. 

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While I prefer speaking to American reps vs foreign reps, I don't believe intelligence/recklessness has anything to do with it. The foreign reps are typically unempowered to make decisions and take ownership over those decisions.

Edit: The mod cut (made after the original post) just destroyed the context of my post. -- In case anyone is confused why intelligence/recklessness is referenced.

[Anonymous]

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@09Lexie wrote:

Recons with Amex are most successful when there was a fundamental change in your CRs since the app, ie a charge off or CA being removed.  They are not looking for an explanation for the condition of your file but an error that will increase your chance of approval - the only way they can do that is if they pull an updated CR.

If, you want to write a letter of explanation and explain the reasons for the inqs (perhaps you were auto shopping) and fax over a copy of your current CR to their Media Dept- you may avoid the HP. 

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Thats true in general with AMEX. However, I am willing to bet this was a very borderline decision made by the automated system. AMEX relies heavily on their internal risk score assesement, but I got approved with an almost identical history with decent terms. As long as its not bankruptcy, multiple late payments, high debt to low income ratio kind of a situation I think anyone has a solid chance of recon approval. I also think those odds skyrocket dramatically if the OP can talk to an American rep over an Indian/Pakistainan. The latter speaks in scripts that at least half the time are not even relevant to the conversation. Heck, I bet while on a recon call to those areas they want to tell you the cards many benefits... meanwhile you dont even have the card.

I mean think about it a credit card company makes money off giving you the card. The gravitational pull for any smart credit company rep is to approve with high risk terms to further maximaze profit oppurtunites while reducing risk (High interest, low limit). Plus, they have the added advantage of the recon process. Most likely the people calling them are just trying to seek an approval on almost any terms, thus they will likely not complain, but just be happy they got their card even with bad terms attached to it.