Credit Cards

[adavis425]

I never thought I would see the day when I would say this, but...I'm SDing my AMEX gold card  . I know, I can't believe it either. Twice in the last 60 days I've apped for the BCP only to be denied twice. Today I received my second letter with the reasons. (1) Too many inqs (same as last time)!! I was auto shopping!!!!!! And there were only 3 inqs. (2) Debt with other creditors relative to available credit. Isn't that util?? I'm at 3% now as I was when I apped!! Is that really all they have?? I really don't get it. I have been with them for 11 years and have never had a late payment, a returned payment, no negatives at all! I have always paid them no matter what else was going on in my financial life. As soon as my CSP arrives I am SDing AMEX indefinitely. Just needed to vent. Thanks for listening.

[-Cain-]

Sorry to hear that. If you will be SDing the card, would it be best to downgrade to Zync? That way you aren't still paying the Gold AF, instead only $25 for Zync.

[bichonmom]

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adavis425 wrote:

I never thought I would see the day when I would say this, but...I'm SDing my AMEX gold card  . I know, I can't believe it either. Twice in the last 60 days I've apped for the BCP only to be denied twice. Today I received my second letter with the reasons. (1) Too many inqs (same as last time)!! I was auto shopping!!!!!! And there were only 3 inqs. (2) Debt with other creditors relative to available credit. Isn't that util?? I'm at 3% now as I was when I apped!! Is that really all they have?? I really don't get it. I have been with them for 11 years and have never had a late payment, a returned payment, no negatives at all! I have always paid them no matter what else was going on in my financial life. As soon as my CSP arrives I am SDing AMEX indefinitely. Just needed to vent. Thanks for listening.

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Sorry to hear that. I wonder with your util, is that all on one CC? I have found that my FICO goes down when mutliple cards have even tiny balances (like $61 on $1500 CL droped me rougly 10 pts). So, even though  my overall util is low, apparently FICO doesn't like balances showing on multiple CCs. Maybe it's not the amount you owe, but that it's spread out on a few diff CCs.

Just a thought. Also, I think under these circumstances, you could recon and explain the inq. and ask about the util reason. I can understand your frustration!

[LS2982]

Have you tried calling the executive offices to recon it?

[adavis425]

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bichonmom wrote:

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adavis425 wrote:

I never thought I would see the day when I would say this, but...I'm SDing my AMEX gold card  . I know, I can't believe it either. Twice in the last 60 days I've apped for the BCP only to be denied twice. Today I received my second letter with the reasons. (1) Too many inqs (same as last time)!! I was auto shopping!!!!!! And there were only 3 inqs. (2) Debt with other creditors relative to available credit. Isn't that util?? I'm at 3% now as I was when I apped!! Is that really all they have?? I really don't get it. I have been with them for 11 years and have never had a late payment, a returned payment, no negatives at all! I have always paid them no matter what else was going on in my financial life. As soon as my CSP arrives I am SDing AMEX indefinitely. Just needed to vent. Thanks for listening.

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Sorry to hear that. I wonder with your util, is that all on one CC? I have found that my FICO goes down when mutliple cards have even tiny balances (like $61 on $1500 CL droped me rougly 10 pts). So, even though  my overall util is low, apparently FICO doesn't like balances showing on multiple CCs. Maybe it's not the amount you owe, but that it's spread out on a few diff CCs.

Just a thought. Also, I think under these circumstances, you could recon and explain the inq. and ask about the util reason. I can understand your frustration!

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Yes, Bichonmom, one card. The second time I apped, I also apped for the CSP and was approved.  At this point, I don't even want the BCP or the recon. Maybe I'll think differently at a later date, but for now they can keep their card and I'll send my business in another direction. 

[pizzadude]

I would definately try for a recon ~ you should easily be able to explain the inquiries and your utilization is low....

[archieb]

Perhaps they are not refering to revolving credit?  Is your auto loan pretty high util?  I know installment util doesn't affect FICO, but maybe in AMEX's internal model; anyways, sorry to hear that

[jjsten]

Totally disagree.  Don't people understand that calling the "executive offices" aren't really the "executive offices".  It's a call center that handles complaints and concerns from customers or potential customers.  It's name that makes it sound "official", but won't get you anywhere.  You if you don't have the credit criteria or qualification, do you really think an "executive" at a multi-billion dollar company needs to take a small risk with you?  NO.

Just a little reality for the forum.

[pizzadude]

At least it was a soft pull......And you get a EX FICO each time they deny you ~ I apply month just for the free denial FICO score....

[LS2982]

@jjisten How are any of your posts supportive in this forum?? Your so negative. Why? Nobody here has done anything to you yet you have to be so negative. Please stop, thank you.