topic Re: AMEX Recon in Credit Cards

AMEX Recon

Anonymous — Mon, 24 Sep 2012 16:17:31 GMT

I recently app'd for the AMEX ZYNC last Thrusday night was offered the 500 autopay or 200 limit. I went to bed with accepting either offer to recon the next day. WHen I called I found out I was denied and no counter offer. I called and found a rep that was nice enough to take my reconsideration and send comments to the Credit Analyst explaining my report (I called 3 times to find someone kind....the 1st person refused to do a recon for me saying the primary reason of not approving me was because of "Too low of a FICO score 669...hmmm I though ZYNC was easy...and I dont have too many baddies on my report 1 CO and CA that is not mine and 2 paid CO, make 115K without adding in rental property).

Question should I call and find out whats going on or wait it out?

Re: AMEX Recon

XxRaVeNxX — Mon, 24 Sep 2012 16:29:33 GMT

People who are given those offers, are borderline approval for the Zync...You have 4 collections on your account...that might be why...

Re: AMEX Recon

espnjunkie — Mon, 24 Sep 2012 16:32:41 GMT

"hmmm I thought Zync was easy..." There are no "Easy" Amex cards to get approved for. Amex is a prime creditor and all of their card products require you to have above average or better credit in order to be approved (roughly meaning 680+ FICO scores). 4 baddies and lower than ideal current scores are major reasons for a denail right now. In six months of gardening you should be in better shape and should reapply then.

Re: AMEX Recon

XxRaVeNxX — Mon, 24 Sep 2012 16:37:27 GMT

Checking various sites, that people compare their scores when they get approved...You scores are higher than others...it's the four collections...

Re: AMEX Recon

espnjunkie — Mon, 24 Sep 2012 16:39:06 GMT

669 EX is on the low end for approval I'd say, and the 4 collections are killer, you're right. Garden mode for six months

Re: AMEX Recon

Lzzybeth — Mon, 24 Sep 2012 16:39:49 GMT

I'd say the baddies are hurting your approval chances as well.

Can't hurt to try GW'ing the CAs to see if they'll delete them from your CR. As others have said, all you need is one person to say yes to your request! Good luck!!

Re: AMEX Recon

Anonymous — Mon, 24 Sep 2012 17:24:15 GMT

But 2 is paid for 2008 and the other 2 are not mine

Re: AMEX Recon

Anonymous — Mon, 24 Sep 2012 17:27:31 GMT

See I am thinking that as well but its paid and it was while I was deployed and I sent them the info that corroborates that. Question is I recon'd just want to know if I should call back or just wait to find out if the recon was successful?

Re: AMEX Recon

Anonymous — Mon, 24 Sep 2012 17:30:16 GMT

Tried to but 1 collection refuses but their subsidarary approved a removel. The 2 not mine I am disputing via CRB and BBB

Re: AMEX Recon

XxRaVeNxX — Mon, 24 Sep 2012 17:32:38 GMT

It being paid...how does this matter...it's still a collection on your account

Re: AMEX Recon

CS800 — Mon, 24 Sep 2012 17:33:47 GMT

I would say let these collections age more. Give it 6-12 months.

Re: AMEX Recon

Walt_K — Mon, 24 Sep 2012 17:37:15 GMT

@XxRaVeNxX wrote:
It being paid...how does this matter...it's still a collection on your account

Recon is a manual review. An old paid collection will certainly look better than an unpaid collection.

To the OP, re 2 collections not being yours, creditors aren't going to take your word for it. If it's on your report, it's yours. You'll have to work on getting those collections removed through dispute process.

Re: AMEX Recon

CS800 — Mon, 24 Sep 2012 17:39:02 GMT

@Walt_K wrote:
@XxRaVeNxX wrote:
It being paid...how does this matter...it's still a collection on your account
Recon is a manual review. An old paid collection will certainly look better than an unpaid collection.

To the OP, re 2 collections not being yours, creditors aren't going to take your word for it. If it's on your report, it's yours. You'll have to work on getting those collections removed through dispute process.

Re: AMEX Recon

Anonymous — Mon, 24 Sep 2012 17:51:22 GMT

Thanks Walt_k....frrom what I gathered and my journey on here I learned a paid collection better than a unpaid because it reflects you do pay back whatever the OC granted. Sp thanks for explaining that for me. I know and its being disputed and I have evidence that I was not in the US and was deployed. Which I was not her ein the US to anything at that time.

Re: AMEX Recon

Anonymous — Mon, 24 Sep 2012 17:52:20 GMT

CS800 I will def take your advice if the final recon comes back as a NOGO. I just checked the site and it is still being review for the recon...Ill pm you when I find out the results

Re: AMEX Recon

Walt_K — Mon, 24 Sep 2012 17:55:54 GMT

@Anonymous wrote:
Thanks Walt_k....frrom what I gathered and my journey on here I learned a paid collection better than a unpaid because it reflects you do pay back whatever the OC granted. Sp thanks for explaining that for me. I know and its being disputed and I have evidence that I was not in the US and was deployed. Which I was not her ein the US to anything at that time.

Just for clarification, a paid collection is better than unpaid, especially when explaining it on manual review. But for FICO score, there is no difference. FICO scores a collection the same whether it is paid or unpaid, on the view that what is important to the lender is the fact that an account had to go to collection at all.

Good luck in getting the other collections removed from your reports.

Re: AMEX Recon

CS800 — Mon, 24 Sep 2012 17:59:06 GMT

@Anonymous wrote:
CS800 I will def take your advice if the final recon comes back as a NOGO. I just checked the site and it is still being review for the recon...Ill pm you when I find out the results

Definitely let me know

Good luck ..fingers crossed

Re: AMEX Recon

Anonymous — Mon, 24 Sep 2012 18:58:32 GMT

This is a success story http://ficoforums.myfico.com/t5/Credit-Cards/Zynced/m-p/1597778

Re: AMEX Recon

Revelate — Mon, 24 Sep 2012 19:09:18 GMT

@Anonymous wrote:
This is a success story http://ficoforums.myfico.com/t5/Credit-Cards/Zynced/m-p/1597778

Well there's a few things I think from your initial post.

It's not a well known thing, but we've had a few reports that if you get a counter-offer to your Zync application, you HAVE to take it right then and there if you want it. If you delay, or your session times out, or whatever, the Amex CS group will have no record of the counter unfortunately. This exact scenario came up a month or two ago and it appears you got bitten by it as well.

Secondly if the collections aren't yours, get them taken care of before you apply for anything.

The Zync is admittedly "not that hard" (six months revolving history, 640ish FICO, that's not a serious hurdle compared to their revolvers), but Amex can be kind of particular about unpaid debts at times. If it were me, I'd get the spurious open CO and CA taken care of, and then apply pretty much as soon as the EX report updates that (assuming it's been 31 days from your last Zync app).

I also don't know the current status of your other tradelines and how old they are, if they're pretty recent, that could be hurting your Amex chances as well. In either case I'd wait to see what the full denial list was on the letter.

Re: AMEX Recon

AZHeather — Mon, 24 Sep 2012 19:23:15 GMT

If you have applied for other things in the past year and have a lot of inquiries, that is also something that Amex does not like to see.

It sounds as if you just pulled to trigger too soon. Deal withe the to collections that are not yours, allow your paid collections to age, then (if you don't have a lot of inquiries under a year old) try again.

Good luck.