topic Re: Amex Recon Question in Credit Cards

Updated- APPROVED!!! Amex Recon Question

Anonymous — Mon, 20 Aug 2012 21:22:39 GMT

UPDATE 8/20/12@ 5pm- Just wanted to let everyone know that I was just approved for the BCP thru recon! Initially CL is $2K. Made my day!

I tried calling Amex's exec office to recon my denied BCP but they told me they don't handle that & that I have to call the new accounts dept (based in India) at 877-399-3083. So I called the new accts dept & for some reason their system didn't let them pull up the letter which lists the reasons fior the denial so the CSR asked me to read them to her & tell her why I disagree with these reasons. She said she could have my application sent for reconsideration by a human being & would add a note listing all my reasons to the request. She also Asked me to fax over a copy of credit report to her att & told me to call back 48 hrs after to find out the decision. She also said they might re-run my credit.

I'm a little nervous to fax over my credit report because it's going to show a 4th inquiry- the 1 from Amex last week when I initially applied. Too many recent credit checks was the first reason listed on my denial letter. Aside from the new Amex inquiry my report is identical to the one they ran last week as my credit cards don't update till the end of the month.

For all of you who've reconed Amex did you go through the executive office or new accounts? How long did it take? Did you have to fax over your credit report?

Also, 1 of the reasons I was denied was because of "number of trades" and the Amex CSR had no idea what that meant? Any of you do?

regarding my denial I was approved for the Zync w/ npsl right beforehand & my initial spending limit is $8K so I'm a little surprised that I was denied for the BCP. Would've thought they would approve me with at least $1000 on a revolver if they r willing to let me spend $8K on the charge card.

Re: Amex Recon Question

trumpet-205 — Tue, 14 Aug 2012 16:56:39 GMT

AMEX only does recon if your credit report is inaccurate. By inaccurate I mean something like "a CO that's not mine", not something like "utilization has since dropped".

Be advised AMEX will HP you again even if you fax over your CR. It does NOT matter if you fax over your CR because AMEX will HP it one more time. They don't look over your faxed report. Now since you already have Zync you shouldn't have that initial HP.

P.S. "Number of trade" and "available of credit" typically means too many.

Re: Amex Recon Question

migliogiorni — Tue, 14 Aug 2012 18:03:43 GMT

thats good to know, thanks.

Re: Amex Recon Question

Anonymous — Wed, 15 Aug 2012 05:34:57 GMT

@trumpet-205 wrote:
AMEX only does recon if your credit report is inaccurate. By inaccurate I mean something like "a CO that's not mine", not something like "utilization has since dropped".

Be advised AMEX will HP you again even if you fax over your CR. It does NOT matter if you fax over your CR because AMEX will HP it one more time. They don't look over your faxed report. Now since you already have Zync you shouldn't have that initial HP.

P.S. "Number of trade" and "available of credit" typically means too many.

there is nothing inaccurate in my CR aside from is the util being lower but that won't be reflected in my reports for a few more weeks, after my credit cards report. I explained this to the CSR & she said she would include this info in my recon request.

My main reason for requesting a recon was that I disagree with Amex's reasons or the denial- "too many recent credit checks", report they pulled shows 3, & I explained to the CSR that the most recent w1 was a housing/ rental screening inquiry & not an attempt to take out more credit.

I haven't faxed anything over yet & I didn't really didn't understand why they would accept a customer's faxed over report (anyone can doctor it) but the status of application has been changed from "denied" to "in progress."

I'm guessing that if they decide to rerun my credit they will prob pull the other 2 (eq & tu) whih are actually stronger than experian so I don't mind. Especially if you are right that if denied it Will only be a SP since I have the Zync.

I apologize if I sound like a whiny brat it's just that I really want an Amex revolver ( 10 yrs backdating) & I feel that I may have been approved if I applied for a diff. one. I've worked really hard to clean up my reports & up my scores & have been pretty strategic with my recent apps. I thank all the posters on this site who educated me about the Zync card being the easiest Amex to get & how you can apply for 2 amex's in 1 day & it only shows up as 1 inquiry. Had I just applied for the BCP I would've been denied & wasted an inquiry. Instead 1 now have a new account that's been backdated 10 yrs which helps my AAoA Instead of hurting it & only 1 additional inquiry instead of 2. I am eternally greatful for this.

Re: Amex Recon Question

CK_Charles_Lover — Wed, 15 Aug 2012 05:45:59 GMT

Good Luck. Keep us updated.

Re: Amex Recon Question

j_casteel — Wed, 15 Aug 2012 05:53:27 GMT

@Anonymous wrote:
@trumpet-205 wrote:
AMEX only does recon if your credit report is inaccurate. By inaccurate I mean something like "a CO that's not mine", not something like "utilization has since dropped".

Be advised AMEX will HP you again even if you fax over your CR. It does NOT matter if you fax over your CR because AMEX will HP it one more time. They don't look over your faxed report. Now since you already have Zync you shouldn't have that initial HP.

P.S. "Number of trade" and "available of credit" typically means too many.
there is nothing inaccurate in my CR aside from is the util being lower but that won't be reflected in my reports for a few more weeks, after my credit cards report. I explained this to the CSR & she said she would include this info in my recon request.

My main reason for requesting a recon was that I disagree with Amex's reasons or the denial- "too many recent credit checks", report they pulled shows 3, & I explained to the CSR that the most recent w1 was a housing/ rental screening inquiry & not an attempt to take out more credit.

I haven't faxed anything over yet & I didn't really didn't understand why they would accept a customer's faxed over report (anyone can doctor it) but the status of application has been changed from "denied" to "in progress."

I'm guessing that if they decide to rerun my credit they will prob pull the other 2 (eq & tu) whih are actually stronger than experian so I don't mind. Especially if you are right that if denied it Will only be a SP since I have the Zync.

I apologize if I sound like a whiny brat it's just that I really want an Amex revolver ( 10 yrs backdating) & I feel that I may have been approved if I applied for a diff. one. I've worked really hard to clean up my reports & up my scores & have been pretty strategic with my recent apps. I thank all the posters on this site who educated me about the Zync card being the easiest Amex to get & how you can apply for 2 amex's in 1 day & it only shows up as 1 inquiry. Had I just applied for the BCP I would've been denied & wasted an inquiry. Instead 1 now have a new account that's been backdated 10 yrs which helps my AAoA Instead of hurting it & only 1 additional inquiry instead of 2. I am eternally greatful for this.

That was the only reason they gave you for denial? Too many recent credit checks?

I dind't think AMEX was that inquiry sensitive, and if you only have 3 that just seems odd. Not sure it would be worth another HP to recon though....may just wait 30 days or so and apply for the revolver again. It's only a SP to see if you're approved for it now that you have your Zync.

Either way good luck

Re: Amex Recon Question

Anonymous — Wed, 15 Aug 2012 06:44:23 GMT

@j_casteel wrote:

That was the only reason they gave you for denial? Too many recent credit checks?

I dind't think AMEX was that inquiry sensitive, and if you only have 3 that just seems odd. Not sure it would be worth another HP to recon though....may just wait 30 days or so and apply for the revolver again. It's only a SP to see if you're approved for it now that you have your Zync.

Either way good luck

sorry, I should've been clearer, they gave 4 reasons, "too many recent credit checks" was just the 1st reason listed. I only mentioned that one since I only had 3 inquiries so it seemed liked a bogus reason to deny someone. Plus they usually list the reaons in order of importance & seemed odd that 3 inquiries was their msin concern.

I spoke about the initial denial last week in this post

http://ficoforums.myfico.com/t5/Credit-Cards/Should-I-Recon-Amex-BCP-Denied-Zync-Approved-Bittersweet/td-p/1533432

Anyhow other 3 reasons for denial were:

Amount of credit avail on accts

Number of trades

High util

Re: Amex Recon Question

j_casteel — Wed, 15 Aug 2012 06:49:47 GMT

@Anonymous wrote:
@j_casteel wrote:

That was the only reason they gave you for denial? Too many recent credit checks?

I dind't think AMEX was that inquiry sensitive, and if you only have 3 that just seems odd. Not sure it would be worth another HP to recon though....may just wait 30 days or so and apply for the revolver again. It's only a SP to see if you're approved for it now that you have your Zync.

Either way good luck
sorry, I should've been clearer, they gave 4 reasons, "too many recent credit checks" was just the 1st reason listed. I only mentioned that one since I only had 3 inquiries so it seemed liked a bogus reason to deny someone. Plus they usually list the reaons in order of importance & seemed odd that 3 inquiries was their msin concern.
I spoke about the initial denial last week in this post
http://ficoforums.myfico.com/t5/Credit-Cards/Should-I-Recon-Amex-BCP-Denied-Zync-Approved-Bittersweet/td-p/1533432
Anyhow other 3 reasons for denial were:
Amount of credit avail on accts
Number of trades
High util

i've heard that they list them in order of importance, but have yet to find anything to actually back that up. I've asked before and nearly each of them respond with "they are listed in no particular order and are of equal importance when making a decision on your credit."

Taking the other reasons in consideration they are basically giving you the info you need to take care of in order to possibly get accepted down the road. Seems like you need to work on utilization especially.

Re: Amex Recon Question

Anonymous — Sat, 18 Aug 2012 00:58:59 GMT

Quick update- it's now been over 80 hrs. since I requested manual review & status still shows up as "in progress." I verfied with Amex new accounts dept. that the request for recon was in fact submitted to an underwriter. They said it usually takes 48 hrs but in some cases can take up to 7-10 days & that underwriting team would either contact me by mail if they needed additional info or just mail me the card with 7-10 days if they decide to approve me thru recon. I'm not holding my breath. Just wondering if this is a good sign or might mean nothing, possibly underwriting team is backed up & haven't even looked at my app yet.

Felt like I needed a 3rd credit card to help w/ util./ overall credit limit so I just applied fir the Citi Forward & was approved for $7K, 0% apr on purchases & B.T. For 12 months, then 22.9%. Equifax-725. High apr after promo period bc my current accts show high balances.

Re: Amex Recon Question

Open123 — Sat, 18 Aug 2012 01:20:23 GMT

I've read of a few recon successes with Amex, but they're few and far between.

I couldn't agree more that it makes little sense to allow you to charge $8K on your Zync, but unwilling to extend a $1,000 static limit. Just one of those things with credit that seemingly defies common sense.

The only reason I can think of is that in many ways, Amex is most comfortable with net 30 accounts where it's customary to request an immediate payment at any time. This isn't the case with credit lines.

Either way, best of luck!

Re: Amex Recon Question

n777ua — Sat, 18 Aug 2012 01:26:32 GMT

IIRC when I reconned on my BCE denial it took almost 2 weeks to complete. I had to fax in a different CR than Amex had pulled (I sent TU, I *think* they pulled EQ), then they pulled my EQ again.

Their denial letters can get crazy, I seem to remember mine having something like 10 reasons; was almost comical.

Worked out in the end, good luck

Re: Amex Recon Question

Anonymous — Sat, 18 Aug 2012 01:47:56 GMT

@n777ua wrote:
IIRC when I reconned on my BCE denial it took almost 2 weeks to complete. I had to fax in a different CR than Amex had pulled (I sent TU, I *think* they pulled EQ), then they pulled my EQ again.

Their denial letters can get crazy, I seem to remember mine having something like 10 reasons; was almost comical.

Worked out in the end, good luck

Thanks for the info. Your story gives me hope! They pulled EX for me & CSR asked me to fax over a copy of my report but I never did since I didn't think they would trust it but maybe I'll fax them a copy of a diff. report.

Re: Amex Recon Question

Anonymous — Sat, 18 Aug 2012 01:49:48 GMT

@Open123 wrote:
I've read of a few recon successes with Amex, but they're few and far between.

I couldn't agree more that it makes little sense to allow you to charge $8K on your Zync, but unwilling to extend a $1,000 static limit. Just one of those things with credit that seemingly defies common sense.

The only reason I can think of is that in many ways, Amex is most comfortable with net 30 accounts where it's customary to request an immediate payment at any time. This isn't the case with credit lines.

Either way, best of luck!

Thanks for the encouragement!

Regarding my spending ability on the Zync it's actually somewhere b/w $12,500-$15,000.

Re: Amex Recon Question

n777ua — Sat, 18 Aug 2012 01:50:32 GMT

I was always able to speak to someone in the US, sorry I don't recall how I got to them. I went overseas first but they were clueless (see my other recent thread about Amex overseas). You generally have to work a little harder to get an Amex approved, and they are certainly more rigid than other lenders.

Re: Amex Recon Question

Anonymous — Sat, 18 Aug 2012 01:53:46 GMT

@n777ua wrote:
I was always able to speak to someone in the US, sorry I don't recall how I got to them. I went overseas first but they were clueless (see my other recent thread about Amex overseas). You generally have to work a little harder to get an Amex approved, and they are certainly more rigid than other lenders.

Guess I'll try calling the exec office on Monday if there's no change on the online application status page.

Re: Amex Recon Question

CK_Charles_Lover — Sat, 18 Aug 2012 02:50:12 GMT

still hoping it works out!

Re: Amex Recon Question

CribDuchess — Sat, 18 Aug 2012 03:54:35 GMT

Good luck on the recon! And yeah, I have to wonder why they denied you and perhaps it was a mistake. I just recently found out that they made a mistake when processing my 2nd application for the BCE on April 23rd. My first app was on March 23rd - denied. 2nd on April 23rd - denied. Third app on May 25th was approved. That was almost 3 months ago and I never looked back - was just thrilled to finally have the BCE in my wallet.

Then last week I received an odd letter from Amex, dated August 6, 2012. Here's what it said:

“Dear CribDuchess,

We are writing to let you know we recently discovered there was an error at the time we processed your April 23, 2012 application for the Blue Cash from American Express. We apologize for any inconvenience this may have caused.

We invite you to apply again. We may be able to process your original application depending on the amount of time that has passed. If you choose to apply for a new Card, we will review and decide your application based on information from your credit report and score, as well as your history on other American Express accounts. Additionally, due to Federal regulations, we are required to evaluate your ability to make the minimum payment on Card based on the financial information you provide us, relative to your overall debt obligations reflected in our records and in your credit report.

Please visit americanexpress.com/apply to reapply or you can call us at 1-877-621-2639 and we will be happy to take your application over the phone.

Thank you for your interest in American Express.”

It's just plain bizarre that they would even bother to send this letter to me, especially since they did finally approve my 3rd application a month later. I wonder if I should call and try to get some MR points out of them for all the "inconvenience" they caused me? LOL

Re: Amex Recon Question

Anonymous — Mon, 20 Aug 2012 05:46:56 GMT

Recon is still "in progress", I'm guessing underwriters don't work on weekends.

Carzy thing is I just checked my soending ability on my Zync & they approved $15K! Nutso.

Re: Amex Recon Question

Anonymous — Mon, 20 Aug 2012 21:10:00 GMT

Checked the online application page in the morning & it still said "in progress." Just checked it again before trying to call the executive office and it said "APPROVED." Can't believe it- does anyone know the number to call to find out my CL?

Re: Amex Recon Question

iMacDrew — Mon, 20 Aug 2012 21:15:58 GMT

Congrats, its an awesome card to have, and one of the hardest to get that they offer. im not sure what the number is but its one of the sticky numbers at the top of the forum for recon.