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Valued Contributor
j_casteel
Posts: 1,906
Registered: ‎06-21-2012
0

Got my AMEX denial letter today...

Ive had my Zync $500 hard limit for around 2.5 months. I hadn't applied for anything since June 17th. So I figured I would try for a GE card and a better AMEX charge card. I got approved for the Walmart card, but was denied the PRG. 

 

The letter states reasons are:

 

FICO score

Your debt with other creditors reletive to the available credit as indicated by Experian. 

Your consumer credit report indicates that you have a serious delinquency on one or more of your accounts.

Your credit report indicates that you have one or more seriously delinquent or collections account and/or derogatory public records on file. 

 

It states my FICO is 648 as of July 28, 2012. 

 

Then goes on to say...

 

Serious delinquency and public record or collection files.

Proportion of loan balances to loan amount is too high.

Number of accounts delinquent.

Length of time accounts have been established.

 

I know AMEX is tough with recons but should I atleast give it a try? The only collection on my report is from 2007 which was a mistake by the local cable company charging me at 2 addresses so I was paying my bill at the house I lived at but had no clue that I was being charged at a different address, and I've tried disputing it but having trouble getting it removed. There is no balance on that collection because the cable company removed the fees but the CA hasn't removed it from my report. All my accounts are currently positive. I don't have any negative public records. 

 

Also, is that my real EX FICO? If so, then while I'm upset with the denial I'm still ecstatic that my EX score has came up nearly 100 points since I got my Zync card back in June!

 

Thanks,

 

John

 

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $4k | CSP $5k | Marriott $5k | AMEX TE $9k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
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Contributor
patternofstars7
Posts: 84
Registered: ‎02-14-2011
0

Re: Got my AMEX denial letter today...

I would just work on letting that Zync age a little bit up to 6 months to a year then reapply. From what I've heard about Amex, is they usually tend to pull a report when doing recon and usually they don't reverse decision. I would also try to pay down some balances. I believe that its your FICO score because I also got my score when I applied for a BCE. Congrats on the big score boost and I'm sure in time they'll approve you. Good luck!

Valued Contributor
jamesdwi
Posts: 1,892
Registered: ‎09-16-2011
0

Re: Got my AMEX denial letter today...

two and a half months was too soon to AP with a hard limit on your card. I wouldn't bother with a recon and not APP again untill you are over 700 FICO or at least have your hard limit removed. 

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Valued Contributor
j_casteel
Posts: 1,906
Registered: ‎06-21-2012
0

Re: Got my AMEX denial letter today...

Thanks for the replies...

 

I forgot to add that my current utilization is 0% but I do have about $90k in student loan debt. Maybe that's the loans they're referring about. 

 

I know I need to let my cards age more but I figured it would be worth a SP and a chance to either get a card or see my score.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $4k | CSP $5k | Marriott $5k | AMEX TE $9k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
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Moderator
pizzadude
Posts: 9,674
Registered: ‎01-28-2010
0

Re: Got my AMEX denial letter today...

The score they gave you is definitely an EX FICO® ~ although we don't know which score model it is. And your denial was only a soft pull as well. I would just wait 30 days or so and reapply after your balances have updated. If you recon now they'll very likely do a hard pull and you may or may not be approved.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Valued Contributor
Repo-ed
Posts: 2,954
Registered: ‎02-09-2012
0

Re: Got my AMEX denial letter today...

Thankfully it was just a SP and not an HP.

 

That being said, you should clearly understand that given your files and derogs, you would not be in a position to be approved for a card such as the PRG with is NPSL, when you were only approved for a hard limit of $500 on quite possibly the easiest card to obtain.

 

I think you got overzealous, and hopefully have been humbled, as most of us have.

 

The GREAT thing to come of this is that you now have a road map on just how exactly to get approved for that PRG and just about any other Amex card, going forward.

Moderator
Revelate
Posts: 9,457
Registered: ‎12-30-2011
0

Re: Got my AMEX denial letter today...

[ Edited ]

jamesdwi wrote:

two and a half months was too soon to AP with a hard limit on your card. I wouldn't bother with a recon and not APP again untill you are over 700 FICO or at least have your hard limit removed. 

 

 


Amex doesn't ever seem to remove the limit on the Zync.  No biggie, better cards both from Amex and others can be obtained eventually and since limits aren't reported on charge cards anyway, it doesn't matter other than the inconvenience factor.

 

 

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Regular Contributor
CK_Charles_Lover
Posts: 248
Registered: ‎09-02-2011
0

Re: Got my AMEX denial letter today...

Have to agree, 2 1/2 months with a zync with a hard limit, probably not going to work out. The good news only a SP and you can use that experian letter to get your report for free. Go to experian and click the "denied" credit and fill it out. 90 days (great if you don't get already). 

 

ps. if you have come 100 points ahead in a year imagine where you could be another year. Patience will be your best friend.

Trans Union Fico (Walmart) ,690 Experian Fico (Amex) 686(Opened 3 new accounts this month. In the Garden)


AMEX BCE ($19,500) AMEX PRG -(NPSL), BARCLAYS US AIR PREMIER WORLD ($10,000), BOA CASH REWARD -($6,000), CITI HILTON RESERVE SIGGY-(5,000), WALMART DISCOVER ( $5,800), CITI DIAMOND ($4,700), CITI DIVIDED WORLD ($4,500), AMAZON STORE($5,000), NORDSTROM VISA SIG($5,000), PAYPAL STORE ($4,000) Amex Delta Gold ($2000)
Valued Contributor
j_casteel
Posts: 1,906
Registered: ‎06-21-2012
0

Re: Got my AMEX denial letter today...

Thanks for the replies and advice everyone. I figured it was a long shot, but I was hoping that maybe all the money I've been running through my Zync even with a $500 hard limit would've helped. I want a card to earn points/cash for groceries, gas, etc. So that's why i app'd for the PRG i figured if I had any chance at all then that would be a better option to app for over the BCE or any other revolver. I think it was definitely worth the SP to get my EX FICO. Which I'm amazed that it has jumped nearly 100pts since the middle of June this year. I don't have my other current FICO's but I should get my Walmart card in the mail soon and I will start getting my monthly TU FICO, and I do have SW but it seems that either my EQ doesn't update often or its just not growing like my EX obviously is. Either way, I know what needs to be done and I feel that I'm finally moving in that direction to start getting over the hump.

 

Thanks,

 

John

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $4k | CSP $5k | Marriott $5k | AMEX TE $9k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
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New Contributor
LilNYC
Posts: 184
Registered: ‎07-08-2012
0

Re: Got my AMEX denial letter today...

In my exp collections from cable companies are usually easy to dispute & have removed from your CR. do you remember if you gave them your social sec # when u established your acct? If you didn't simply dispute the coll w all 3 CBs Stating that it's not your acct & that there was never any acct assoc with ur soc sec number with xyz company. It worked for me.

Citi Thank You $13,200 - Chase Freedom $3,100 - AMEX Zync NPSL (init. ability $17.5K) - Citi Forward $7,000 - AMEX BCP $6,000 - USAA Rate Adv $15,000 - USAA World MC $12,000 - Discover More $4,000 - Amex Hilton Honors $4,500 - Amex SPG $2,000 - Barclay's Priceline Rewards $6,400 - Chase Sapphire Pref. $7,500

EQ: 794. TU: 704. EX: 755

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