topic Re: AMEX finding in Credit Cards

AMEX finding

Fico_Dish — Wed, 27 Jan 2016 23:44:11 GMT

History: I had a charge off on an AMEX card in 1999. I never applied for any AMEX card thinking that I may be part of their Black List.

With a good score now, I applied the AMEX Everyday Card just to check my luck and got the instant denial and got the message that written letter will be sent with the exact reason of denial. I got my denial letter yesterday stating that i currently have high debt/limit ratio and high inquiries.

Question: does this mean I am not in their Black List and I have been denied based on my current credit report. I have also seen a Hard Pull on my report for this as well.

Thanks

Re: AMEX finding

myjourney — Wed, 27 Jan 2016 23:48:17 GMT

With a HP and no mention of previous baddie

I'd say you're now in the running

Re: AMEX finding

Anonymous — Wed, 27 Jan 2016 23:51:26 GMT

How much was the charge off? If that is the reason for denial then you might be free and clear. Also, if you don't have an Amex, a fresh application is a hardpull if approved or denied, subsequent denials are softpulls...

Re: AMEX finding

Anonymous — Thu, 28 Jan 2016 00:05:25 GMT

@Anonymous wrote:
How much was the charge off? If that is the reason for denial then you might be free and clear. Also, if you don't have an Amex, a fresh application is a hardpull if approved or denied, subsequent denials are softpulls...

Yes it's me are you saying that OP's next application will be a softpull wether he has an AMEX or not?

OP's letter said, (S)he was denied for high utilization not a previous derog history with amex( which is what they told me 3 years ago when the Amex rebuilder had different terms). OP is it true you have high utilization? If so, and if Yes-Its-Me is saying what I think he's saying, I'd say you're in the running once you get that utilization under control.

Re: AMEX finding

myjourney — Thu, 28 Jan 2016 00:19:29 GMT

@Anonymous wrote:
@Anonymous wrote:
How much was the charge off? If that is the reason for denial then you might be free and clear. Also, if you don't have an Amex, a fresh application is a hardpull if approved or denied, subsequent denials are softpulls...
Yes it's me are you saying that OP's next application will be a softpull wether he has an AMEX or not?

OP's letter said, (S)he was denied for high utilization not a previous derog history with amex( which is what they told me 3 years ago when the Amex rebuilder had different terms). OP is it true you have high utilization? If so, and if Yes-Its-Me is saying what I think he's saying, I'd say you're in the running once you get that utilization under control.

She

Re: AMEX finding

Anonymous — Thu, 28 Jan 2016 02:59:37 GMT

@Anonymous wrote:
@Anonymous wrote:
How much was the charge off? If that is the reason for denial then you might be free and clear. Also, if you don't have an Amex, a fresh application is a hardpull if approved or denied, subsequent denials are softpulls...
Yes it's me are you saying that OP's next application will be a softpull wether he has an AMEX or not?

OP's letter said, (S)he was denied for high utilization not a previous derog history with amex( which is what they told me 3 years ago when the Amex rebuilder had different terms). OP is it true you have high utilization? If so, and if Yes-Its-Me is saying what I think he's saying, I'd say you're in the running once you get that utilization under control.

No, that is not what I am saying - see blue. What I said would only be applicable if OP already had an active existing Amex and then it softpull if declined. Although, now it is YMMV..

But as it stands, OP has no relationship so it will be a hardpull irrespective of whether it is an approval or a decline.

Re: AMEX finding

takeshi74 — Thu, 28 Jan 2016 14:09:07 GMT

@Anonymous wrote:
OP is it true you have high utilization? If so, and if Yes-Its-Me is saying what I think he's saying, I'd say you're in the running once you get that utilization under control.

"Inquiries" tends to indicate other concerns with one's credit profile. Inquiries are a relatively small factor but can have a bigger impact for those with thin and/or poor profiles. Getting debt levels down will help with the other reason but OP may need to assess reports, idenitify deficiences and work on addressing them.