topic Re: Denied Amex Platinum Business Card and Amex Gold Personal in Credit Card Applications

Denied Amex Platinum Business Card and Amex Gold Personal

Anonymous — Mon, 05 Apr 2021 21:29:12 GMT

Hi All,

I was recently denied a Amex business Platinum card, but my experience with Amex has been weird. I became a Amex member in August 2019 Delta Gold, the following month I was approved for Hilton Honors, and a business Gold, and business green. For some reason I'm stuck at 1k on both revolvers, anytime I submit a cli it's an auto decline, and I can't even open the reason why, it's almost like there's some kind of permanent block. When I go to the app status page I get an error message. Every personal card I apply for I get declined. Last year I didn't apply for anything bc of covid, but on 3/19 I applied for the business blue and it asked me log into my back account, so I did. I was approved, small starting limit of 2k- applied for the personal gold and declined. I've been awaiting my soft pull update which should be taking place any day, my previous pull was at 710, and as of today my score is 750. I applied last night for business Platinum, and once again I was asked to log into my account, I did and was denied. Stating that average daily balance is too low compared to withdrawals. This was only one account, that averages about 35k in deposits per month but this is what I filter my expenses through. Annual income about 115k.

Here's my question, is there a sick thing as a personal account ban? It's confusing that I can't apply for cli (never called one though) or get approved for any cards. Second, what's the deal with this log into your bank account thing? Had I known it would have been an issue I would have logged into an account that has a savings attached.

Any ideas 🙏

Re: Denied Amex Platinum Business Card and Amex Gold Personal

OmarGB9 — Mon, 05 Apr 2021 21:45:26 GMT

Do you have any derogatory accounts? When someone is approved for an Amex revolver with only a $1k limit, it's usually a sign you barely got in, and growing the card will be difficult until derogs come off your reports.

Re: Denied Amex Platinum Business Card and Amex Gold Personal

Anonymous — Mon, 05 Apr 2021 21:50:47 GMT

Nope, but at the time most of my limits were very low. Since then I've acquired 18k Navy, 15k SWFCU, 3k Apple, 25k first tech federal credit Union(which is new) a few others but all of those are almost two years old. My UTI is 8%, I have a Range Rover lease that's two years old, 4 paid off card loans-- not lates- not collections, nothing of the sort. So idk 🤷🏽‍♀️

Re: Denied Amex Platinum Business Card and Amex Gold Personal

Bradac56 — Mon, 05 Apr 2021 22:33:48 GMT

Just curious what is your total combined CC limit compared to your yearly salary ? Withen 20% ?

Re: Denied Amex Platinum Business Card and Amex Gold Personal

Anonymous — Mon, 05 Apr 2021 22:48:36 GMT

Total credit limit 86k.

Re: Denied Amex Platinum Business Card and Amex Gold Personal

BetterMoves — Tue, 06 Apr 2021 00:34:56 GMT

You can probably call them at 1-866-314-0237 (Mon-Fri 6am-8pm MST) to get the reason for the denial, although they will be sending a letter.

Re: Denied Amex Platinum Business Card and Amex Gold Personal

Anonymous — Tue, 06 Apr 2021 00:43:39 GMT

@Anonymous wrote:
Total credit limit 86k.

@Anonymous the reason you were asked is that if your total limits are near or over your annual income, that can be a factor holding back approvals. Different lenders have different levels of risk aversion and it's possible that this plus your credit profile is giving them pause.

Re: Denied Amex Platinum Business Card and Amex Gold Personal

FinStar — Tue, 06 Apr 2021 05:08:25 GMT

@Anonymous wrote:
Hi All,

I was recently denied a Amex business Platinum card, but my experience with Amex has been weird. I became a Amex member in August 2019 Delta Gold, the following month I was approved for Hilton Honors, and a business Gold, and business green. For some reason I'm stuck at 1k on both revolvers, anytime I submit a cli it's an auto decline, and I can't even open the reason why, it's almost like there's some kind of permanent block. When I go to the app status page I get an error message. Every personal card I apply for I get declined. Last year I didn't apply for anything bc of covid, but on 3/19 I applied for the business blue and it asked me log into my back account, so I did. I was approved, small starting limit of 2k- applied for the personal gold and declined. I've been awaiting my soft pull update which should be taking place any day, my previous pull was at 710, and as of today my score is 750. I applied last night for business Platinum, and once again I was asked to log into my account, I did and was denied. Stating that average daily balance is too low compared to withdrawals. This was only one account, that averages about 35k in deposits per month but this is what I filter my expenses through. Annual income about 115k.

Here's my question, is there a sick thing as a personal account ban? It's confusing that I can't apply for cli (never called one though) or get approved for any cards. Second, what's the deal with this log into your bank account thing? Had I known it would have been an issue I would have logged into an account that has a savings attached.

Any ideas 🙏

@Anonymous, did you at some point opt-in to allow AmEx access to your Financial Information?

From their T&C:

Why should you share your bank account information with us?

Granting ongoing access to your bank account information, including balances, will allow us to better serve your account(s) and support your spending needs. It will also help us evaluate your creditworthiness, up to and including your ability to pay your debts with us.

You can opt out by calling the number on the back of your Card at any time.

Re: Denied Amex Platinum Business Card and Amex Gold Personal

Anonymous — Tue, 06 Apr 2021 05:45:14 GMT

This didn't appear to an ongoing thing, it was something that was to aid in determining me approved for these cards. Before it will give me an approval it says "we need more info.."

Re: Denied Amex Platinum Business Card and Amex Gold Personal

FinStar — Tue, 06 Apr 2021 05:52:08 GMT

@Anonymous wrote:
This didn't appear to an ongoing thing, it was something that was to aid in determining me approved for these cards. Before it will give me an approval it says "we need more info.."

This could be one of the factors that may be weighing in on some of the denials, if you're still opted-in. By all means, if you're comfortable with sharing/linking financial information to be considered, that's up to you. Most individuals don't typically do so, however.

Re: Denied Amex Platinum Business Card and Amex Gold Personal

Anonymous — Wed, 07 Apr 2021 04:07:45 GMT

I'll give them a call, thank you.

My score should have updated with them, however when it does should I reapply?

Re: Denied Amex Platinum Business Card and Amex Gold Personal

FinStar — Wed, 07 Apr 2021 04:15:19 GMT

Given the denial on biz Platinum a couple of days ago + personal Gold card denial less than a month ago (if I'm reading things in chronological order from your op), I'd let things breathe with AmEx for at least 60-90 days.