topic AmEx Platinum: Denied UPDATE: Denied to EO "In Progress" in Credit Card Applications

AmEx Platinum: Denied UPDATE: Denied to EO "In Progress"

Anonymous — Thu, 19 Mar 2015 18:08:35 GMT

I'm an existing cardmember with American Express since November. I have an Everyday card with the notoriously low CL of $1,000 that they refuse to raise. At the time of application, there were 2 collections and 1 public record ($514 -- medical). Since then, everything has fallen off my Experian report that they use to check my credit. In January 2015, I applied for and was granted the PRG card and upon enrollment, I was given the option to make payments on it (I forget the name of the option, but I know it's not offered to everyone). My balance on AmEx Everyday is 0. My reports are clean. I PIF on both my PRG (even though I don't have to with the option they've given me) and my Everyday.

Today, upon logging into my account to pay my PRG, I looked for any new benefit offers (extra points, specials, etc.) and there was an offer for 40,000 MR points if I applied for and was approved for the Platinum. The AF is not appealing, but the points were, and given the extensive traveling I will be doing in the next year or two I thought the benefits would far outweigh the $495 AF, and I could always change back if the benefits no longer served me.

So I applied and got the dreaded 7-10 message. I called New Accounts and was put on hold after verifying some information and was then told I was denied. I do have too many inquiries which was part of the decline reason (12 inquiries) -- but the rep tells me my Experian score is "too low" (verbatim) and that score that she read me over the phone is 736 (the report date according to her is January 20th)!!!! She then said the balances in prorpotion to the revolving lines of credit were "too high" (um, at the most, it's 10%). I wasn't about to argue with her, because what's the point, and this isn't the end of the world, but I almost laughed out loud while she was telling me these things.

Because I haven't looked at my dashboard, I went to go check to see if something horrendous had happend with my Experian score and perhaps she was looking at the wrong date, but had some newer information that I was unaware of. Nope: My Exerian Fico score as of today is 743! I pulled my credit report and calculated my utilization: 9.25%. Nothing negative reporting.

I'm going to let my new accounts age (15 in total, and yes, that is a lot, and I know it!) But the primary reason for my decline she said was my Experian score is "too low." So, I'll work on dropping that util to even lower single digits (?!?!) and garden my accounts a bit and see if that puts me in good graces with AmEx.

What a weird and confusing system AmEx seems to be! And, the new account reps are NOT friendly at all! I have no clue why they'd outsource those types of services to another country? If their goal is to recruit new cardmembers, I hardly think these scary reps are the ones they'd want on the front line of the new accounts department answering the phones!

Re: American Express Application for Platinum: DENIED

Skye12329 — Thu, 19 Mar 2015 02:11:08 GMT

The denial reason is just computer generated. Although i dont know what kind of scores are needed for the Plat. because isnt that supposed to be their "best" charge card? Its possible a higher score may be needed.

Re: American Express Application for Platinum: DENIED

grinlikechelsea — Thu, 19 Mar 2015 02:44:12 GMT

@Skye12329 wrote:
The denial reason is just computer generated. Although i dont know what kind of scores are needed for the Plat. because isnt that supposed to be their "best" charge card? Its possible a higher score may be needed.

From what I understand, the UW criteria are similar if not identical across all of their charge cards. It just comes down to the customer's willingness to pay the AF.

Re: American Express Application for Platinum: DENIED

creditFiend — Thu, 19 Mar 2015 17:00:42 GMT

Maybe the rep meant your 'internal' score with them is low being you're under 6mos with them. Plus the several inquiries, as you stated.
Gardening is best at the moment

Re: American Express Application for Platinum: DENIED

Anonymous — Thu, 19 Mar 2015 17:20:29 GMT

@creditFiend wrote:
Maybe the rep meant your 'internal' score with them is low being you're under 6mos with them. Plus the several inquiries, as you stated.
Gardening is best at the moment

Absolutely -- gardening is definitely THE way to go at this point. The signs are all there! I appreciate that prompt more than you know. Also, I did call American Express Executive Offices and spoke with a really nice lady and explained to her the confusing signals and information I've gotten from this experience as well as the confusion regarding the 3xCLI and various other things that have gone wrong in my tenure with AmEx. I told her I am not looking for a recon necessarily as much as I am some clarity on the reasons for their decisions. She said she'd be in touch within 24-48 hours after she looks into this.

Okay. Off to the garden as soon as we pick up our new Nissan Juke!!! I shouldn't have, I know, but I've been dying to have this car and my 2001 Jetta is on its way out

Re: American Express Application for Platinum: DENIED

CreditCuriosity — Thu, 19 Mar 2015 17:32:30 GMT

Least it should of been only a sp

Re: American Express Application for Platinum: DENIED

Anonymous — Thu, 19 Mar 2015 18:25:25 GMT

@CreditCuriousity wrote:
Least it should of been only a sp

Yes, I can confirm they didn't do an HP. Thank goodness! I don't want another inquiry! Also -- after talking with the EO, I noticed that the app went from decline to "in progress" again. I'm not expecting an approval at all, that wasn't my intention at that point, but I did want some clarity, and hopefully, even when I am declined yet again, the EO can explain things a little bit more to me other than being told my Experian FICO score is too low at 734.

UPDATE: An hour after speaking with the EO, I noticed the status went from "Declined" to "In Progress" again for my Platinum application. Then about a half hour later I received an alert that my Experian report had a new inquiry on it from American Express. I'm not sure if that means. I know the EO seemed interested in pulling a new(er) report to see what was happening.

Re: American Express Application for Platinum: DENIED

Anonymous — Thu, 19 Mar 2015 23:15:40 GMT

@Anonymous wrote:
@CreditCuriousity wrote:
Least it should of been only a sp
Yes, I can confirm they didn't do an HP. Thank goodness! I don't want another inquiry! Also -- after talking with the EO, I noticed that the app went from decline to "in progress" again. I'm not expecting an approval at all, that wasn't my intention at that point, but I did want some clarity, and hopefully, even when I am declined yet again, the EO can explain things a little bit more to me other than being told my Experian FICO score is too low at 734.

UPDATE: An hour after speaking with the EO, I noticed the status went from "Declined" to "In Progress" again for my Platinum application. Then about a half hour later I received an alert that my Experian report had a new inquiry on it from American Express. I'm not sure if that means. I know the EO seemed interested in pulling a new(er) report to see what was happening.

Sounds like an approval.

Re: American Express Application for Platinum: DENIED

CreditCuriosity — Fri, 20 Mar 2015 00:07:22 GMT

Sounds like an approval. They want their 450$

Re: American Express Application for Platinum: DENIED

Anonymous — Fri, 20 Mar 2015 00:09:21 GMT

@CreditCuriousity wrote:
Sounds like an approval. They want their 450$

LOL!!!!! How true!!!!

Re: American Express Application for Platinum: DENIED

joedtx — Fri, 20 Mar 2015 05:14:32 GMT

@Anonymous wrote:
@CreditCuriousity wrote:
Sounds like an approval. They want their 450$

LOL!!!!! How true!!!!

We are pulling for ya......Let us know how it goes!

Re: American Express Application for Platinum: DENIED

Anonymous — Fri, 20 Mar 2015 21:37:17 GMT

I applied yesterday. Your scores are higher than mine and I got approved!! What is your anual income(ball park)?

Re: American Express Application for Platinum: DENIED

Anonymous — Fri, 20 Mar 2015 22:30:01 GMT

@Anonymous wrote:
I applied yesterday. Your scores are higher than mine and I got approved!! What is your anual income(ball park)?

Hi! Congrats on your approval and owning a great new card! Enjoy! My annual income last year that I reported on the app was $85k, although after having done taxes and getting ready to submit, it looks like I've finally hit the 6 figure. So if it doesn't pan out now, I'll wait 3-6 months, try again, and I'll have a better income to report. Enjoy your weekend! Thanks for the message!

Re: American Express Application for Platinum: DENIED

Anonymous — Fri, 20 Mar 2015 22:56:57 GMT

Thanks, im going to use it to book my Disney World Vacation. BTW if you got a HP from them chances are you should get it!!!