topic Re: AmEx Costco Business Card in Business Credit

AmEx Costco Business Card - 2 WEEK RECON SUCESS - APPROVED

Anonymous — Tue, 11 Nov 2014 19:55:24 GMT

Hello all, I've been using Fico for a while but this is my first time posting.

I recently applied for an AmEx Costco Business Card but they denied me despite having a 695 Experian credit score. This is the that score they pulled.

I currently have the American Express Gold Business card and Discover IT. Also an authorized user on some others from Citi and Chase.

All account balances paid in full and accounts are open. Everything on my credit reports is accurate but all 3 of them still show the balance on my Discover card that I paid off a month ago. According to the simulator, once my discover is paid off my score jumps to 750 for Experian.

I got my first credit card fresh out of high school so that would make it 3 years worth of credit history.

I just finished a 2 year lease term on my car and opened up another one a month ago.

I have a late payment from more than a year ago.

My business has been running for 3 years with a 300k gross annually.

Re: AmEx Costco Business Card

Anonymous — Tue, 21 Oct 2014 18:53:13 GMT

Thank you all for the comments and help. I just want to know what is the negating factor. I love Costco and I do a lot of my business and personal shopping there.

Re: AmEx Costco Business Card

Anonymous — Sat, 08 Nov 2014 09:32:17 GMT

Waiting on Recon. Sent it last week.
Told them that my credit score is sufficient enough.
Told them that none of my accounts are delinquent (for some reason my Discover had showed a balance as well as my Citi on my credit report). But doesn't delinquent mean past due?! None of my accounts are past due.
Told them my credit history is sufficient enough.

Been a week so far, still waiting. Still shows application "In Progress". Every time I call them up they tell to call back within a few days.

Also, just got approved for Chase Slate with a 4.8k CL and a year of no interest.
Capital One just approved me for 4k as well.

Wonder if this will help me in anyway? Both of those cards were manually approved, meaning that they called me up to verify my information. I pray that's the case with AmEx.

Re: AmEx Costco Business Card

Anonymous — Tue, 04 Nov 2014 06:34:36 GMT

No hard pulls from AmEx yet since the initial application. They warned me they would pull my credit again for the recon.

Re: AmEx Costco Business Card

sccredit — Wed, 05 Nov 2014 22:56:41 GMT

I have to wonder if all of the new cards and apps is the reason for the denial.

Good luck!

Re: AmEx Costco Business Card

MyDataMyChoice — Thu, 06 Nov 2014 15:40:09 GMT

You already have a relationship with AMEX... denials tend to be SP... approvals are HP

Revolvers tend to require 700+ Score (especially for business)

Try the DELTA Gold for business or the SIMPLY Cash for Business (they have a tier system) Costco doesn't it is only one med/low tier of 15.24% APR

Re: AmEx Costco Business Card -RECON IN PROGRESS

Anonymous — Sat, 08 Nov 2014 09:28:54 GMT

Thanks for the replies folks, heres an update:

It's been 11 days since I started the recon and still nothing. I call them everyday and they keep telling me to call back within 24 hours. Different rep, same reply.

AmericanExpress online check also shows the app in progress.

Re: AmEx Costco Business Card

Anonymous — Sat, 08 Nov 2014 09:33:55 GMT

I wonder if that's the case?

I want to point out that I started the recon process well before I applied for Chase and Capital One and was manually approved.

Re: AmEx Costco Business Card

Anonymous — Sat, 08 Nov 2014 09:38:53 GMT

Is it better than American Express Gold Cash Card?

Like the DELTA Gold for business is better than the True Earnings card? I appreciaite all the advice.

I think AMEX should know that I'm more than capable and qualified for their cards. On the AMEX gold business card, I pay big balances off no problem each month.

I know that's not what they want, so I plan on telling them I want the Costco guard because of its lower interest rates and so I don't have to pay off my balances at once .

Re: AmEx Costco Business Card

Anonymous — Sat, 08 Nov 2014 10:01:59 GMT

Also, I just got an offer from AMEX to upgrade to the Platinum Cash Card.

Re: AmEx Costco Business Card

Anonymous — Mon, 10 Nov 2014 21:19:22 GMT

Today marks the 15th day I've been waiting on a recon decision.

I called the American Express Executive office and asked them what's going on.

They apologized for the delay and told me that it would be finished within 2 days. They told me it was last checked on the 8th and the verification process has been finished. Now they're talking to some bank to complete my application?

Why would they talk to a bank?

Re: AmEx Costco Business Card -RECON IN PROGRESS

Anonymous — Tue, 11 Nov 2014 19:54:44 GMT

APPROVED!!!!!!!!!!!!!!!!!!

Just called the American Express Executive office. Talked to a nice lady named Tony. She asked for my first and last name and my social security number. She then talked to American Express New Accounts for me and told me that they were working on it right that instance! She then told me to hold on a few more minutes for a decision. She then told me to call her back within an hour and was in the process of giving me her phone number when she interupted me and told me to "hold on" and put me on hold. She then came back with a laughing-giggly-happy voice and said "CONGRATULATIONS! YOU'RE APPROVED!" She told me that in the 20 years of her working at AmEx she never seen anything like this before.

I'm so happy!!!!!!!!!!!

AmEx Costco Business Card - 2 WEEK RECON SUCESS - APPROVED

Anonymous — Wed, 12 Nov 2014 02:30:37 GMT

This is from my thread at the business section:

10-21-2014 11:52 AM

Hello all, I've been using Fico for a while but this is my first time posting.

I recently applied for an AmEx Costco Business Card but they denied me despite having a 695 Experian credit score. This is the that score they pulled.

I currently have the American Express Gold Business card and Discover IT. Also an authorized user on some others from Citi and Chase.

All account balances paid in full and accounts are open. Everything on my credit reports is accurate but all 3 of them still show the balance on my Discover card that I paid off a month ago. According to the simulator, once my discover is paid off my score jumps to 750 for Experian.

I got my first credit card fresh out of high school so that would make it 3 years worth of credit history.

I just finished a 2 year lease term on my car and opened up another one a month ago.

I have a late payment from more than a year ago.

My business has been running for 3 years with a 300k gross annually.

‎11-03-2014 10:12 PM

Waiting on Recon. Sent it last week.
Told them that my credit score is sufficient enough.
Told them that none of my accounts are delinquent (for some reason my Discover had showed a balance as well as my Citi on my credit report). But doesn't delinquent mean past due?! None of my accounts are past due.
Told them my credit history is sufficient enough.

Been a week so far, still waiting. Still shows application "In Progress". Every time I call them up they tell to call back within a few days.


Also, just got approved for Chase Slate with a 4.8k CL and a year of no interest.
Capital One just approved me for 4k as well.

Wonder if this will help me in anyway? Both of those cards were manually approved, meaning that they called me up to verify my information. I pray that's the case with AmEx.

‎11-08-2014 01:28 AM

Thanks for the replies folks, heres an update:

 

It's been 11 days since I started the recon and still nothing. I call them everyday and they keep telling me to call back within 24 hours. Different rep, same reply.

 

AmericanExpress online check also shows the app in progress.

‎11-10-2014 01:19 PM

Today marks the 15th day I've been waiting on a recon decision.

 

I called the American Express Executive office and asked them what's going on.

 

They apologized for the delay and told me that it would be finished within 2 days. They told me it was last checked on the 8th and the verification process has been finished. Now they're talking to some bank to complete my application?

 

Why would they talk to a bank?

‎11-11-2014 11:54 AM

APPROVED!!!!!!!!!!!!!!!!!!

 

Just called the American Express Executive office. Talked to a nice lady named Tony. She asked for my first and last name and my social security number. She then talked to American Express New Accounts for me and told me that they were working on it right that instance! She then told me to hold on a few more minutes for a decision. She then told me to call her back within an hour and was in the process of giving me her phone number when she interupted me and told me to "hold on" and put me on hold. She then came back with a laughing-giggly-happy voice and said "CONGRATULATIONS! YOU'RE APPROVED!" She told me that in the 20 years of her working at AmEx she never seen anything like this before.

 

 

 

 

 

 

I'm so happy!!!!!!!!!!!

OP-

Congrats on your approval. However, please refrain from cross-posting threads. As this is a business approval, this thread was moved to our Business Credit Forum. ~ Lexie

Re: AmEx Costco Business Card - 2 WEEK RECON SUCESS - APPROVED

dodgerslv — Tue, 11 Nov 2014 20:10:50 GMT

@Anonymous wrote:

This is from my thread at the business section:

10-21-2014 11:52 AM

Hello all, I've been using Fico for a while but this is my first time posting.

I recently applied for an AmEx Costco Business Card but they denied me despite having a 695 Experian credit score. This is the that score they pulled.

I currently have the American Express Gold Business card and Discover IT. Also an authorized user on some others from Citi and Chase.

All account balances paid in full and accounts are open. Everything on my credit reports is accurate but all 3 of them still show the balance on my Discover card that I paid off a month ago. According to the simulator, once my discover is paid off my score jumps to 750 for Experian.

I got my first credit card fresh out of high school so that would make it 3 years worth of credit history.

I just finished a 2 year lease term on my car and opened up another one a month ago.

I have a late payment from more than a year ago.

My business has been running for 3 years with a 300k gross annually.

‎11-03-2014 10:12 PM

Waiting on Recon. Sent it last week.
Told them that my credit score is sufficient enough.
Told them that none of my accounts are delinquent (for some reason my Discover had showed a balance as well as my Citi on my credit report). But doesn't delinquent mean past due?! None of my accounts are past due.
Told them my credit history is sufficient enough.

Been a week so far, still waiting. Still shows application "In Progress". Every time I call them up they tell to call back within a few days.


Also, just got approved for Chase Slate with a 4.8k CL and a year of no interest.
Capital One just approved me for 4k as well.

Wonder if this will help me in anyway? Both of those cards were manually approved, meaning that they called me up to verify my information. I pray that's the case with AmEx.

‎11-08-2014 01:28 AM

Thanks for the replies folks, heres an update:

 

It's been 11 days since I started the recon and still nothing. I call them everyday and they keep telling me to call back within 24 hours. Different rep, same reply.

 

AmericanExpress online check also shows the app in progress.

‎11-10-2014 01:19 PM

Today marks the 15th day I've been waiting on a recon decision.

 

I called the American Express Executive office and asked them what's going on.

 

They apologized for the delay and told me that it would be finished within 2 days. They told me it was last checked on the 8th and the verification process has been finished. Now they're talking to some bank to complete my application?

 

Why would they talk to a bank?

‎11-11-2014 11:54 AM

APPROVED!!!!!!!!!!!!!!!!!!

 

Just called the American Express Executive office. Talked to a nice lady named Tony. She asked for my first and last name and my social security number. She then talked to American Express New Accounts for me and told me that they were working on it right that instance! She then told me to hold on a few more minutes for a decision. She then told me to call her back within an hour and was in the process of giving me her phone number when she interupted me and told me to "hold on" and put me on hold. She then came back with a laughing-giggly-happy voice and said "CONGRATULATIONS! YOU'RE APPROVED!" She told me that in the 20 years of her working at AmEx she never seen anything like this before.

 

 

 

 

 

 

I'm so happy!!!!!!!!!!!

woohoo! big congrats! I love hearing recon success stories on banks that hardly overturn original decision (Amex, Citi etc). Hoping for my 1st AMEX business card approval come Janaury.

Re: AmEx Costco Business Card - 2 WEEK RECON SUCESS - APPROVED

uswala — Tue, 11 Nov 2014 20:48:10 GMT

Congrats!

Re: AmEx Costco Business Card - 2 WEEK RECON SUCESS - APPROVED

alvon123 — Wed, 12 Nov 2014 00:01:35 GMT

congrats!!!

Re: AmEx Costco Business Card - 2 WEEK RECON SUCESS - APPROVED

Anonymous — Wed, 26 Nov 2014 07:33:24 GMT

you graduated from high school 3 years ago and you're making 300K, what!

Re: AmEx Costco Business Card - 2 WEEK RECON SUCESS - APPROVED

unc0mm0n1 — Wed, 26 Nov 2014 10:36:51 GMT

@Anonymous wrote:
you graduated from high school 3 years ago and you're making 300K, what!

Umm he never said he made 300k. He said his business grossed 300k."