topic Amex Green Card Denied in Credit Card Applications

Amex Green Card Denied

Boribori — Wed, 28 Apr 2021 03:56:33 GMT

Apped for the green card and got denied. Going to call the recon like tomorrow. Any tips on what I can say? Success stories? Might get lucky depending on who I get? Ex 554 yes I know it's low. Have some baddies as well.

Re: Amex Green Card Denied

tbque — Wed, 28 Apr 2021 04:10:22 GMT

AmEx doesn't really do recons. Also, with your score it will be very difficult to get approved for that card. I think you would at least need to be in the mid to high 600's. Just my opinion.

Re: Amex Green Card Denied

FinStar — Wed, 28 Apr 2021 04:26:48 GMT

OP, is the Experian score you provided a FICO score?

Also, before you decide on making the call, have you learned the actual reasons why the application was denied, especially if the following data you've recently shared still applies?

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Charge-off-Help/m-p/6306216

Re: Amex Green Card Denied

Anonymous — Wed, 28 Apr 2021 13:02:17 GMT

Have to agree that with that score and so many recent chargeoffs, Amex is very unlikely to overturn the decision. It'll likely require you paying off all of the chargeoffs and the passage of time for score-healing before any approval is likely. Cobranded cards are the low-hanging fruit of the Amex tree and they typically require at least 630s with no recent baddies before an approval is possible. Green is generally considered to be the tier above the cobrands.

Re: Amex Green Card Denied

rostrow416 — Wed, 28 Apr 2021 11:51:05 GMT

Not much you can do with that score if it's a FICO. Recon won't help.

You're gonna need some time for those charge offs to age off or work toward settling/deleting them before you should try again.

Re: Amex Green Card Denied

OmarGB9 — Wed, 28 Apr 2021 13:39:30 GMT

Agree with everyone - score is much too low for Amex's liking, and unpaid COs don't help. I'd focus on addressing your baddies first.

Re: Amex Green Card Denied

Anonymous — Wed, 28 Apr 2021 21:25:03 GMT

@Boribori wrote:
Apped for the green card and got denied. Going to call the recon like tomorrow. Any tips on what I can say? Success stories? Might get lucky depending on who I get? Ex 554 yes I know it's low. Have some baddies as well.

I've never ever seen someone get approved for Amex with a score that low. Might want to save yourself a phone call and not try it

Re: Amex Green Card Denied

BetterMoves — Thu, 29 Apr 2021 03:01:41 GMT

Based on some of your other posts, you will probably want to hold off on American Express for while. Wait until the negs are off of your credit report, then until your score is at least 680 or so*. Then try their pre-qualification tool before applying. No need to rush...they aren't going anywhere.

* [ETA] 680 isn't based on much; that's mostly my conjecture...maybe a lower score will be acceptable. Credit approvals always depend on a individuals profile.

Re: Amex Green Card Denied

RobertK — Fri, 28 May 2021 00:00:00 GMT

when you say "no recent baddies"

what is the start of the clock on that? in the case of a charged-off account, would that be the date a credit card company cancelled the account? or the date the account was marked PIF or settled?

thanks

@Anonymous wrote:
Have to agree that with that score and so many recent chargeoffs, Amex is very unlikely to overturn the decision. It'll likely require you paying off all of the chargeoffs and the passage of time for score-healing before any approval is likely. Cobranded cards are the low-hanging fruit of the Amex tree and they typically require at least 630s with no recent baddies before an approval is possible. Green is generally considered to be the tier above the cobrands.

Re: Amex Green Card Denied

Anonymous — Fri, 28 May 2021 01:21:21 GMT

@RobertK wrote:
when you say "no recent baddies"
what is the start of the clock on that? in the case of a charged-off account, would that be the date a credit card company cancelled the account? or the date the account was marked PIF or settled?

thanks

@Anonymous wrote:
Have to agree that with that score and so many recent chargeoffs, Amex is very unlikely to overturn the decision. It'll likely require you paying off all of the chargeoffs and the passage of time for score-healing before any approval is likely. Cobranded cards are the low-hanging fruit of the Amex tree and they typically require at least 630s with no recent baddies before an approval is possible. Green is generally considered to be the tier above the cobrands.

My SO did not get pre-approvals for Amex until he hit 640 EX F8 and only for the cobranded cards, the pre-approvals went away when he dipped under 640, and now is approved for all the cards once SO hit 680+ EX F8.

SO does have an unpaid installment CO, but it is exactly 6 years old. Next oldest baddies were from 2017, but are now gone off reports. I would say some distance would be 3-4 years old from date of first delinquency and a score 630-640+ for EX F8.

Charge cards like green, gold, plat were preapproved around 650-680.

Also, try tge pre-approvals to gauge where you stand, as it is a decent indicator instead of straight cold-apping and burning HPs.

Re: Amex Green Card Denied

Anonymous — Fri, 28 May 2021 01:32:50 GMT

^^^ agreed. Pre-Covid, I would have said two years was probably enough time to wait from a derog until an app (I was about 28 months past the DoFD of my newest derog when my first Amex cards were approved back in 2018). While recent DPs indicate Amex may be loosening up a bit of late, I'd still err on the side of caution. Use the prequal tool as @Anonymous suggested, and I'd probably go with that same time interval, at least three years with scores at least 680 to have the best odds for approval.

Re: Amex Green Card Denied

OmarGB9 — Fri, 28 May 2021 04:28:10 GMT

@Anonymous wrote:
^^^ agreed. Pre-Covid, I would have said two years was probably enough time to wait from a derog until an app (I was about 28 months past the DoFD of my newest derog when my first Amex cards were approved back in 2018). While recent DPs indicate Amex may be loosening up a bit of late, I'd still err on the side of caution. Use the prequal tool as @Anonymous suggested, and I'd probably go with that same time interval, at least three years with scores at least 680 to have the best odds for approval.

@Anonymous @Anonymous

Just wanted to add my experience for DP purposes: I ran the prequal and was preapproved for all Delta cards. Applied and got denied. Denial reasons were score too low (650 EX F8), serious deliquency (true, I have one remaining unpaid CO and 6 paid COs, all at least 3 years old), payments not high enough/balances on cards too high (2 out of 4 cards were zero, one was at ~60%, one at ~30%). Overall util at 23% I believe. Sooo I'm not so sure about them loosening up now.

Just for fun I ran the prequal again yesterday, and STILL showed prequalified for all Deltas, although now Green was showing up too.

Re: Amex Green Card Denied

joltdude — Sat, 29 May 2021 20:20:24 GMT

Not to rain on your parade but that score is too low if its a Fico score.. Might want to try the rebuilding forums because a recon will likely be fruitless and fustrating...

-J

Re: Amex Green Card Denied

SouthJamaica — Sun, 30 May 2021 17:43:37 GMT

@Boribori wrote:
Apped for the green card and got denied. Going to call the recon like tomorrow. Any tips on what I can say? Success stories? Might get lucky depending on who I get? Ex 554 yes I know it's low. Have some baddies as well.

You need to bring your scores up before applying for credit of any kind.