topic Re: AMEX Clear CLI DENIED! in Credit Cards

AMEX Clear CLI DENIED!

Anonymous — Mon, 15 Aug 2011 17:46:50 GMT

Requested a CLI from $2000 to $4000 and got denied.

[quote]

Thank you for your recent request for a line of credit increase on your American ExpressÃ’ Card Account.

We were unable to approve the amount you requested.

Reason(s) for Our Decision

Your overall debt with other creditors listed in your credit bureau report and the credit limits on your American Express Cards in relation to your reported income.

Our scoring of your credit and other relevant information (See below)

We evaluated your application using a credit scoring system that considers various pieces of information including your credit report. The following key factors contributed to our evaluation:

Your FICOÂ® score (See below)

The average of your payments in relation to the balance on your American Express account(s).

The number of creditors who have reviewed your credit report.

The length of time you have been a customer with American Express is too short.

Information About Your FICOÂ® Score

We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On July 09, 2011, your FICO score was 725. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:

Length of time accounts have been established.

Proportion of revolving balances to revolving credit limits is too high.

Proportion of loan balances to loan amount is too high.

Number of accounts delinquent.

Too many inquiries in the last 12 months

[/quote]

I guess I should've waited another few weeks until I lowered my UTL, it's at 27% right now. I don't have any delinquent accounts though so I'm not sure what that's about...

Re: AMEX Clear CLI DENIED!

MarineVietVet — Mon, 15 Aug 2011 17:52:34 GMT

There is one small bright spot here. You now know your true EX FICO score. Lots of folks would like to have that information.

725 is not a bad score at all.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: AMEX Clear CLI DENIED!

Anonymous — Mon, 15 Aug 2011 17:53:03 GMT

@ptrutkowski wrote:
Requested a CLI from $2000 to $4000 and got denied.
[quote]
Thank you for your recent request for a line of credit increase on your American ExpressÃ’ Card Account.

We were unable to approve the amount you requested.

Reason(s) for Our Decision

Your overall debt with other creditors listed in your credit bureau report and the credit limits on your American Express Cards in relation to your reported income.

Our scoring of your credit and other relevant information  (See below)

We evaluated your application using a credit scoring system that considers various pieces of information including your credit report.  The following key factors contributed to our evaluation:

Your FICOÂ® score (See below)
The average of your payments in relation to the balance on your American Express account(s).
The number of creditors who have reviewed your credit report.
The length of time you have been a customer with American Express is too short.

Information About Your FICOÂ® Score
We obtained your FICO score from Experian and used it in making our credit decision.  Your FICO score is a number that reflects the information in your credit report.  Your FICO score can change, depending on how the information in your credit report changes.  On July 09, 2011, your FICO score was 725.  The FICO score ranges from 300 to 850.  The following are the key factors that contributed to your FICO score:

Length of time accounts have been established.
Proportion of revolving balances to revolving credit limits is too high.
Proportion of loan balances to loan amount is too high.
Number of accounts delinquent.
Too many inquiries in the last 12 months
[/quote]

I guess I should've waited another few weeks until I lowered my UTL, it's at 27% right now. I don't have any delinquent accounts though so I'm not sure what that's about...

Actually, could you all clear this up for me? The above says

"We evaluated your application using a credit scoring system that considers various pieces of information including your credit report. The following key factors contributed to our evaluation:" Obviously these reasons are particular to me.

And then it says

"The following are the key factors that contributed to your FICO score"

Is this a general reference to how FICO is calculated? Or is this also particular to me? Again, as far as I know I have no delinquent accounts and my UTL is about 27%. Not great, but not terribly high either...

Re: AMEX Clear CLI DENIED!

Ron1 — Mon, 15 Aug 2011 17:54:23 GMT

@ptrutkowski wrote:
Requested a CLI from $2000 to $4000 and got denied.
[quote]
Thank you for your recent request for a line of credit increase on your American ExpressÃ’ Card Account.

We were unable to approve the amount you requested.

Reason(s) for Our Decision

Your overall debt with other creditors listed in your credit bureau report and the credit limits on your American Express Cards in relation to your reported income.

Our scoring of your credit and other relevant information  (See below)

We evaluated your application using a credit scoring system that considers various pieces of information including your credit report.  The following key factors contributed to our evaluation:

Your FICOÂ® score (See below)
The average of your payments in relation to the balance on your American Express account(s).
The number of creditors who have reviewed your credit report.
The length of time you have been a customer with American Express is too short.

Information About Your FICOÂ® Score
We obtained your FICO score from Experian and used it in making our credit decision.  Your FICO score is a number that reflects the information in your credit report.  Your FICO score can change, depending on how the information in your credit report changes.  On July 09, 2011, your FICO score was 725.  The FICO score ranges from 300 to 850.  The following are the key factors that contributed to your FICO score:

Length of time accounts have been established.
Proportion of revolving balances to revolving credit limits is too high.
Proportion of loan balances to loan amount is too high.
Number of accounts delinquent.
Too many inquiries in the last 12 months
[/quote]

I guess I should've waited another few weeks until I lowered my UTL, it's at 27% right now. I don't have any delinquent accounts though so I'm not sure what that's about...

Sorry about that. Now they're tougher to grant CLI. They used to be easier like last year.

Ron.

Re: AMEX Clear CLI DENIED!

Anonymous — Mon, 15 Aug 2011 17:54:28 GMT

@MarineVietVet wrote:
There is one small bright spot here. You now know your true EX FICO score. Lots of folks would like to have that information.

725 is not a bad score at all.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Yea, I was happy to see the score too - and that it's a decent one! Also, just to be sure, denials on CLI don't affect you in anyway correct?

Re: AMEX Clear CLI DENIED!

MarineVietVet — Mon, 15 Aug 2011 18:25:33 GMT

@ptrutkowski wrote:

Actually, could you all clear this up for me? The above says

"We evaluated your application using a credit scoring system that considers various pieces of information including your credit report. The following key factors contributed to our evaluation:" Obviously these reasons are particular to me.

And then it says

"The following are the key factors that contributed to your FICO score"
Is this a general reference to how FICO is calculated? Or is this also particular to me? Again, as far as I know I have no delinquent accounts and my UTL is about 27%. Not great, but not terribly high either...

You can go here to see the factors involved for all scoring: What's In Your Score.

Re: AMEX Clear CLI DENIED!

MarineVietVet — Mon, 15 Aug 2011 18:27:11 GMT

@ptrutkowski wrote:

Yea, I was happy to see the score too - and that it's a decent one! Also, just to be sure, denials on CLI don't affect you in anyway correct?

Correct. The denial itself will not have any effect on your score.

Re: AMEX Clear CLI DENIED!

Anonymous — Mon, 15 Aug 2011 21:47:34 GMT

@MarineVietVet wrote:
@ptrutkowski wrote:

Actually, could you all clear this up for me? The above says

"We evaluated your application using a credit scoring system that considers various pieces of information including your credit report. The following key factors contributed to our evaluation:" Obviously these reasons are particular to me.

And then it says

"The following are the key factors that contributed to your FICO score"
Is this a general reference to how FICO is calculated? Or is this also particular to me? Again, as far as I know I have no delinquent accounts and my UTL is about 27%. Not great, but not terribly high either...

You can go here to see the factors involved for all scoring: What's In Your Score.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Thanks! I was curious if that second list - "The following are key factors that contributed to your FICO score" - was referring to my particular FICO or FICO in general. If it's particular to me, then AMEX says that I have deliquent account(s), which I don't.

Re: AMEX Clear CLI DENIED!

Cotton_Britches — Mon, 15 Aug 2011 22:33:14 GMT

Good EX score.