topic Re: Amex Recon? Any Chance? in Credit Card Applications

Amex Recon? Any Chance?

dallasareaguy — Mon, 07 Dec 2015 14:23:04 GMT

I probably don't have a chance at recon approval, but anyone thing so? I saw someone with a 640 get approved for Delta Gold Amex... my FICO for experian pulled was 645 with the following:

One $34k baddie from 2012 and 5 public record tax liens totalling $90k

I have paid off all my other debts and have clean revolving credit (22% util) for the last 2 years.

I'm assuming the above stats are still too bad for approval.. I just want in the door with AMEX, even if just a small $500-$1000 starting limit. ANY HOPE AT ALL?

Re: Amex Recon? Any Chance?

takeshi74 — Mon, 07 Dec 2015 14:26:37 GMT

AmEx generally only recons when there is a mistake on a report.

Hit Rebuilding and work on addressing your dergos. That will help with any creditor.

@dallasareaguy wrote:
I just want in the door with AMEX

You don't need to get "in the door". Either your profile and income qualify or they do not. Don't rely on being in the door. One can be "in" and get denied.

Re: Amex Recon? Any Chance?

dallasareaguy — Mon, 07 Dec 2015 14:43:13 GMT

Thanks,

Unfortunately my only open collection is a second mortgage from when we lost our business in 2012. No chance of getting it removed. I already did a verify on it, etc. Only shot I have is they said they might accept $8k settlement... which is a ton of money. Trying to decide next plan.. and the $90k in tax liens is from the family business closure... going to haunt me forever and keep me from being able to buy a home despite great income. ;(

Re: Amex Recon? Any Chance?

stellar — Wed, 09 Dec 2015 10:07:28 GMT

It's not going to hurt to try to recon, even multiple times. People have reconned their way into Amex (do a search on myfico for amex recon). At this point you have nothing to lose by trying.

Re: Amex Recon? Any Chance?

myjourney — Wed, 09 Dec 2015 17:32:43 GMT

Dallas,

Sorry to hear of the denial that sucks

I'll be honest because you should hear it straight up..

DO NOT recon

Amex can and will overturn a denial if you have errors on your CR's and can show the error was cleared up

However this is not the case with your CR's you said its from a failed business venture...

The baddies you have are considered major baddies

1) Mortgage

2) Tax liens

The amounts of default are sizable 34k - 90k =124k

If you recon I can guarantee what will happen

1) new HP could be more

2) waste of 2 or more HP's

3) denied again

4) new HP= new scoring ding

Stay away from Chase, Citi and Amex until you can find a solution for that kind of defaulted debt IMHO

Re: Amex Recon? Any Chance?

DeeBee78 — Wed, 09 Dec 2015 21:48:08 GMT

@dallasareaguy wrote:
Thanks,

Unfortunately my only open collection is a second mortgage from when we lost our business in 2012. No chance of getting it removed. I already did a verify on it, etc. Only shot I have is they said they might accept $8k settlement... which is a ton of money. Trying to decide next plan.. and the $90k in tax liens is from the family business closure... going to haunt me forever and keep me from being able to buy a home despite great income. ;(

Sounds like you need to make some lifestyle changes if you're serious about getting good cards. $90K in tax liens is going to scare more than just Amex.

Re: Amex Recon? Any Chance?

NichelleN — Thu, 10 Dec 2015 02:58:23 GMT

I shared my recon experience here:

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Successful-AMEX-Recon-Delta-Platinum/td-p/4339286

First decline was due to info on report (and # of inquiries)

Once the info was removed I was declined again

Someone took another look at the report and the letter I mailed in and decided to approve

From the results I've read here, I feel pretty lucky.

Re: Amex Recon? Any Chance?

pizza1 — Thu, 10 Dec 2015 03:04:38 GMT

@myjourney wrote:
Dallas,

Sorry to hear of the denial that sucks
I'll be honest because you should hear it straight up..
DO NOT recon
Amex can and will overturn a denial if you have errors on your CR's and can show the error was cleared up
However this is not the case with your CR's you said its from a failed business venture...

The baddies you have are considered major baddies
1) Mortgage
2) Tax liens
The amounts of default are sizable 34k - 90k =124k

If you recon I can guarantee what will happen
1) new HP could be more
2) waste of 2 or more HP's
3) denied again
4) new HP= new scoring ding

Stay away from Chase, Citi and Amex until you can find a solution for that kind of defaulted debt IMHO

THIS....^^^^^^....+1

Sorry OP for the denial

Re: Amex Recon? Any Chance?

Anonymous — Thu, 10 Dec 2015 03:06:36 GMT

I was approved just the other day with a 640 EX. However I only have on collection on my file, and it's $300 and 3 years old. My debt to income ratio is 3% and my utilization is 2%.

No tax liens, bankruptcies and last late payment was over 2 years ago.

Re: Amex Recon? Any Chance?

sjt — Thu, 10 Dec 2015 15:43:48 GMT

@dallasareaguy wrote:
I probably don't have a chance at recon approval, but anyone thing so? I saw someone with a 640 get approved for Delta Gold Amex... my FICO for experian pulled was 645 with the following:

One $34k baddie from 2012 and 5 public record tax liens totalling $90k

I have paid off all my other debts and have clean revolving credit (22% util) for the last 2 years.

I'm assuming the above stats are still too bad for approval.. I just want in the door with AMEX, even if just a small $500-$1000 starting limit. ANY HOPE AT ALL?

There have been fols that have had success with a recon but I dont think it would work in your case with the outstanding issues.

Regarding your tax liens are they Federal or State? Have you tried an OIC to settle the liens?