topic Re: Denied and Confused by Amex in Credit Card Applications

Denied and Confused by Amex

Anonymous — Tue, 19 Jun 2018 15:54:20 GMT

I was approved for a BCE three months ago when my score was around 660 and my utilization was about 75%. I applied for the Cash Magnet card last week (listed in prequal cards) and was immediately declined. I called reconsideration and the rep confirmed my most recent score was 742 but that due to other factors, I was declined. My utilization from their last soft pull was less than 1%.

The other factors the rep mentioned are the same factors that were present in March such as two late payments six years ago and few accounts.

I did receive a CLI on the BCE last month.

The Cash Magent card was more of an experiment with Amex so while I'm not disappointed, I am very confused. I plan to apply for a Hilton card in the fall and would appreciate any insight on what I did wrong or what I can do to improve my odds.

Re: Denied and Confused by Amex

Anonymous — Tue, 19 Jun 2018 16:43:47 GMT

I think more than anything, it was your limited history with Amex that led to the denial. Give them about 6 mos. and apply for the card that you want, whether it be the Hilton or the Magnet card. Establishing a good history with them would open those SP approvals in future.

Re: Denied and Confused by Amex

Peteyglad — Tue, 19 Jun 2018 18:58:25 GMT

What is your limit on your BCE? You may be at max exposure with AMEX.

Re: Denied and Confused by Amex

Anonymous — Tue, 19 Jun 2018 19:12:22 GMT

And the confusion continues...

I found a few other discussions about Amex and the Cash Magnet card which got me poking around the Amex site. One MFer comented on the importance of seeing "Name, You are Pre-Approved" after clicking Apply Now and how most likely you are in fact approved. I checked and I saw this for the Hilton Ascend card. Went ahead and applied thanks to Amex soft pulls and was instantly approved for $6K which is triple the $2K limit on my BCE.

Lesson... Amex has different data points and algorithms for each card. And, the power of community and sharing knowledge sure does help!

Ultimately, I got the card I wanted a few months sooner than I planned with a SL that makes me happy.

Re: Denied and Confused by Amex

Peteyglad — Tue, 19 Jun 2018 19:15:52 GMT

Interesting. Must be different criteria for approval. Congrats though!

Re: Denied and Confused by Amex

bigpoppa09 — Tue, 19 Jun 2018 19:49:09 GMT

History doesn't mean anything with Amex I have been with them almost 3 years. Its if the computer likes your profile or not. I started with Delta Gold and mean Green I have never been late never carry a balance always PIF. The Green has been closed of we didn't fly Delta I would close gold also. I only have one baddie on EX but it was there almost 3 years ago when I first became a member. They will not approve another card for me all I have is a list of denials. If a lender dont want your business move on right AJC lol.

Re: Denied and Confused by Amex

Anonymous — Tue, 19 Jun 2018 20:06:30 GMT

Congratulations! Good for you! Onward and upward!

Re: Denied and Confused by Amex

AverageJoesCredit — Wed, 20 Jun 2018 01:29:13 GMT

I love that movie, Dazed and Confused

Congrats on getting the card you wanted. Since I never get preapproved for anything I put no stock in one haha. Call me cold appin Joe, when I score it feels great but when I miss, ouch FRIO

Re: Denied and Confused by Amex

Anonymous — Thu, 21 Jun 2018 06:05:37 GMT

If you have two late payments exactly six years ago, wait for a little while and let them removed from your records. You will get a better chance to be approved. Make sure your balance on BCE doesn't go above 30% utilization just to be on the safe side. However, we have people here with 40% utilization and still getting approved not just one card but two cards! However, everybody has a different credit profile so we cannot really compare on that ground. Just wait for maybe six months from now and try again or try the pre-qualified page. If there is an offer on cash magnet you will have a greater chance to be approved.

Re: Denied and Confused by Amex

Anonymous — Thu, 21 Jun 2018 06:07:53 GMT

By the way, congrats for your new card!

Re: Denied and Confused by Amex

Anonymous — Sat, 23 Jun 2018 05:53:39 GMT

indeed very strange. Thanks for sharing the info. Congrats on your New card.

Re: Denied and Confused by Amex

Anonymous — Wed, 20 Mar 2019 02:12:32 GMT

Very odd got denied as got letter to apply and i have good credit in 700s and one card is amex. I do have some higher revolving credit, but that's since no interest for yr. So bit annoyed as now that drop score again as hard inquiry. Was close 800 until last yr when had get loan for car and apparently they checked multiple lenders so went way down. I'm never late on pymts, always early. Other amex card even upped credit another $1k and just got that one last yr. Just seemed appealing for the credit to statement after 3 months spending their minimum. I never used get denied so wonder if cuz utilization over 30%

Re: Denied and Confused by Amex

Anonymous — Wed, 20 Mar 2019 03:54:31 GMT

Ok so i called them. Are they outsourced diff country and know nothing. He read same letter as my email. All wanted to know why denied and still couldn't tell me exact reason. Then also says missing or insufficient income when i listed it. What's point pre-approval if they think I'll get approved or is it sent to everyone? They should be able to tell me exact reason for denial. Still odd when i even told him have another Amex. So maybe they don't like too many inquiries, but got like 3-4 just last yr due got car loan so only reason i could think of and they only go by experian. Guess I'll never get amex again or trust pre-approval letters. I hate was another hard inquiry. They gave low limit of $3000, but auto increased to 4100 and only got last yr yet this card denied. So bizarre. My other 2 cards with capital one and discover are $10k, but this other chase i got only $3100. Was used getting high limits, but maybe very few inquiries since no loan in few yrs. I think only 1 other card a long time ago denied. I just like getting the free statement credit since always get the min on there within a few months. I used to also think cc companies like when have revolving credit as when i have no interest free time i pay off, but 2 cards since newer get a yr so helps when times like now need save more to give me time to pay off.

Re: Denied and Confused by Amex

Remedios — Wed, 20 Mar 2019 03:54:56 GMT

@Anonymous wrote:
Ok so i called them. Are they outsourced diff country and know nothing. He read same letter as my email. All wanted to know why denied and still couldn't tell me exact reason. Then also says missing or insufficient income when i listed it. What's point pre-approval if they think I'll get approved or is it sent to everyone? They should be able to tell me exact reason for denial. Still odd when i even told him have another Amex. So maybe they don't like too many inquiries, but got like 3-4 just last yr due got car loan so only reason i could think of and they only go by experian. Guess I'll never get amex again or trust pre-approval letters. I hate was another hard inquiry. They gave low limit of $3000, but auto increased to 4100 and only got last yr yet this card denied. So bizarre. My other 2 cards with capital one and discover are $10k, but this other chase i got only $3100. Was used getting high limits, but maybe very few inquiries since no loan in few yrs. I think only 1 other card a long time ago denied. I just like getting the free statement credit since always get the min on there within a few months. I used to also think cc companies like when have revolving credit as when i have no interest free time i pay off, but 2 cards since newer get a yr so helps when times like now need save more to give me time to pay off.

Hi and welcome @Anonymous

Your post is kinda hard to read/understand, but if there is a question in there, please feel free to start your own. This is an old thread.

Re: Denied and Confused by Amex

Anonymous — Wed, 20 Mar 2019 03:05:19 GMT

Oh yeah guess i rambled lol. Don't know why csr ppl can't just tell me why denied. He read exact same email i had. I even told him i have another Amex and he said nothing so just hung up on him, was awful person. Don't understand why send pre approval letters if denied?

Re: Denied and Confused by Amex

Remedios — Wed, 20 Mar 2019 03:09:07 GMT

Most likely because your profile changed from the time your profile met pre selection criteria till the time you applied.

Re: Denied and Confused by Amex

Anonymous — Wed, 20 Mar 2019 03:30:22 GMT

I dunno applied day after got lol. That's why wondering if they send anyone and then my other Amex upped credit automatically last wk, just bizarre. Made no sense in letter when said income missing when was there too so not sure how it's determined in a few seconds.