09-10-2009 08:49 PM
john, when I hit 760 it will still not be good enough for them!
Amex does not approve on score alone. They look at other aspects of your credit file. FICO score is only a piece of the approval process. One person with 760 may get approved, and another won't. The days of credit granters relying solely on FICO are long, long gone.
Thank you for contributing gravitas to my otherwise tounge-in-cheek post.
Glad to help. But with all the phobia and hysteria around here centering on AMEX you never know when posters are serious or not.
09-11-2009 04:40 PM
09-11-2009 05:19 PM
09-11-2009 05:25 PM
I've seen indications that AmEx doesn't even use FICO scores, but instead use the data on EX reports to crank through their own home-grown scoring system.
If this is true, it would certainly explain why some with FICO scores in the 740's and 760's got declined --the FICO scores were never even looked at.
+1 AMEX CSR told methey do not use FICO scores. AMEX get its data from EX, and uses it own inhouse scoring model. AMEX is good with recon. Its scoring model is apparently too strict.
09-11-2009 07:50 PM
Their scoring model is a bear!
After my app when I called in to spoke to CSR and supervisor and new accts recon dept (somehow after staying on the phone for an hour and a few transfers) - they did confirm they dont use FICO and they use EX to run through their risk scoring system so yeah it is very strict - the csr even agreed - lol... anyways I sent them a letter challenging their incorrect inconsistencies with their reasons of denial with a 22 page exprian report and a letter with a fax sheet - lets see - like I said they have pissed me off soo much that it will most probably be given an immediate time out with its blue cash sibling in the sock drawer.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.