topic Re: AMEX 61 DAY in Credit Card Applications

AMEX 61 DAY

Anonymous — Thu, 16 Aug 2018 15:35:30 GMT

I tried for 3x cli yesterday and got the dreaded 7-10 day response. I forgot about it till just now and just checked if I got any response but still nothing. After reading some posts on here the 7 to 10 day seems like it's just z nice way of being a denial. I was approved for $2000 dollars back in June, so I requested the 3x cli of $6000 . What I dont understand is...Why make us wait, 7 to 10 days??? They should just tell you its denied right away. Anyways, I thought I would just share with you guys, that it didn't work for me.

Re: AMEX 61 DAY

Anonymous — Thu, 16 Aug 2018 16:02:38 GMT

Because federal law requires lenders to communicate adverse action decisions by mail. Even if you had called in to make the request, the CSR would not have told you the decision; only to wait for a letter in the mail.

Denial of credit is an adverse action as defined by the Equal Credit Opportunity Act and the Fair Credit Reporting Act.

You should be able to see the denial letter here: https://www262.americanexpress.com/eaol/welcome_loc.do

The PCN is your reference number

Re: AMEX 61 DAY

Anonymous — Thu, 16 Aug 2018 18:11:55 GMT

Thanks for putting that there...I couldn't find it on the website. My amex website seems to run very very very slow. Makes it a little difficult getting around on it. So they can tell you that your approved but they cant legally discuss a denial with you?

Re: AMEX 61 DAY

Anonymous — Thu, 16 Aug 2018 18:24:05 GMT

If it makes you feel any better, I was denied the 61 day cli also a week or so ago.

Re: AMEX 61 DAY

Anonymous — Thu, 16 Aug 2018 18:24:20 GMT

I was just reading the post from the other day where the OP was on credit steps and requested at 61 days and got approved. I saw something on your credit steps letter that you (MaizeandBlue) posted that stood out to me. AMEX says in the letter to use your card and leave a balance as step 1. I used my card but I paid it off before it could report like I do on most of my cards. I guess Amex likes to see a balance report. I didn't know that till reading that letter.

Re: AMEX 61 DAY

Anonymous — Thu, 16 Aug 2018 18:27:03 GMT

S_E_E, did you get your letter as to why?

Re: AMEX 61 DAY

Anonymous — Thu, 16 Aug 2018 18:30:31 GMT

Yes. It cited number of new accounts and length of time as an Amex customer.

Re: AMEX 61 DAY

Anonymous — Thu, 16 Aug 2018 18:51:33 GMT

@Anonymous wrote:
Thanks for putting that there...I couldn't find it on the website. My amex website seems to run very very very slow. Makes it a little difficult getting around on it. So they can tell you that your approved but they cant legally discuss a denial with you?

Amex can "legally discuss" a denial (that's what reconsideration is all about) but they first have to notify you by mail.

The information regarding adverse action is not on Amex's website but you can read the relevant law here https://www.law.cornell.edu/cfr/text/12/1002.9

"A notification given to an applicant when adverse action is taken shall be in writing"

Re: AMEX 61 DAY

Anonymous — Thu, 16 Aug 2018 19:02:08 GMT

@Anonymous wrote:
I was just reading the post from the other day where the OP was on credit steps and requested at 61 days and got approved. I saw something on your credit steps letter that you (MaizeandBlue) posted that stood out to me. AMEX says in the letter to use your card and leave a balance as step 1. I used my card but I paid it off before it could report like I do on most of my cards. I guess Amex likes to see a balance report. I didn't know that till reading that letter.

I'm guessing you're referring to this thread. Sometimes Amex decides to grant 2X CLI before the "credit steps" period is completed but that's very rare. I can only think of 2 or 3 times I've seen it happen.

But since the denial is most likely because your request for a CLI was too early, you can always try again 30 days after the date of denial.

You do not have to show a balance despite what the email says. I never showed a balance for 5 of the 6 months an account was in "credit steps" and I still got the 2x auto-CLI after 180 days.

Re: AMEX 61 DAY

Anonymous — Fri, 17 Aug 2018 04:51:23 GMT

YES, that thread ( and increase ) was interesting. It's great when things like that work out. So, I can try for another increase in 30 days? I thought I had to wait another 180 days to attempt it again.

Re: AMEX 61 DAY

Anonymous — Fri, 17 Aug 2018 05:00:34 GMT

@Anonymous wrote:
YES, that thread ( and increase ) was interesting. It's great when things like that work out. So, I can try for another increase in 30 days? I thought I had to wait another 180 days to attempt it again.

If you're denied because you requested a CLI too early - and since you're in "credit steps" most likely that will be the reason given in the letter - you can submit another request in 30 days. Any request before 30 days expires will be automatically denied. For most people in "credit steps" the CLI comes after 180 days but asking early does not reset the clock.

If you're denied for a credit reason, then you have to wait 90 days before resubmitting.

Re: AMEX 61 DAY

Anonymous — Fri, 17 Aug 2018 06:46:53 GMT

I was on credit steps and got approved 3x in day 64