topic Re: Amex Everyday Denied in Credit Cards

Amex Everyday Denied

greenfield — Mon, 07 Apr 2014 22:16:05 GMT

Hey guys I've been lurking this forum for a while and was wondering if I can get some help regarding my denied for the amex everyday.

The letter said that the key factor which contributed to my denial was the number of creditors who reviewed my credit report.

My fico was a 703 when they reviewed it.

I honestly think thats a pretty poor reason for a denial. In the past two years the only hard pulls l have are 4 from discover, 2 of which were for student loans, 1 of which for the discover it card I applied for a year ago. Another one to get a credit line increase. I have only one other inquiry besides that which is from chase about 2 weeks ago when I app'd for the sapphire, but got denied from that as well.

What should I say to get recond for this card?

Thanks

Re: Amex Everyday Denied

CreditRookie22 — Mon, 07 Apr 2014 22:21:18 GMT

What other factors did they give u?

Re: Amex Everyday Denied

greenfield — Mon, 07 Apr 2014 22:23:56 GMT

I suppose I looked over it but they said the main reason was my fico score, and that the number of inquiries is a major factor to that

Re: Amex Everyday Denied

yudeology101 — Mon, 07 Apr 2014 22:24:42 GMT

Welcome to the forum and sorry to hear about your denial.

What's your total util/ do you have any baddies?

Re: Amex Everyday Denied

CreditRookie22 — Mon, 07 Apr 2014 22:25:17 GMT

I know that but what's the other factors?

Re: Amex Everyday Denied

CreditRookie22 — Mon, 07 Apr 2014 22:26:07 GMT

What was your score, if u dont mind me asking?

Re: Amex Everyday Denied

greenfield — Mon, 07 Apr 2014 22:31:03 GMT

my utilization around ~5%

And I'm not sure if these factors are unique to me but "the following are key factors that contributed to your fico score:"

Length of time accounts have been established

Proportion of loan balance to loan amount is too high

Length of revolving account history

Too many inquiries in the last 12 months

oh and no baddies either

Re: Amex Everyday Denied

virgo — Mon, 07 Apr 2014 22:33:17 GMT

Same thing happened to me. Score 703, no bads at all , AAoA 1.2, but i do have a boatload of inquiries (starting business).

My report: NFCU, chase Marriott/slate/freedom Cap one , store cards, only carry balance on NFCU/40% util.

What gives?

When you call they say they can re eval but with another hard pull. Not gonna happen. They already tell me I have too many inquiries.

Re: Amex Everyday Denied

yudeology101 — Mon, 07 Apr 2014 22:35:26 GMT

It must be something to do w/ your internal score w/ AMEX....I'm sure it was a SP denial, correct? Best thing is to wait it out and try again later.....

Re: Amex Everyday Denied

greenfield — Mon, 07 Apr 2014 22:36:20 GMT

I don't understand the reasoning of pulling the credit report again for reconsideration, considering they just pulled it a week ago and the main factor was too many hard pulls in the first place.

And no it was not a soft pull denial, it was a hard pull even though I have the green card.

Re: Amex Everyday Denied

CreditRookie22 — Mon, 07 Apr 2014 22:37:22 GMT

When did u open your first and last credit card greenfield

Re: Amex Everyday Denied

ACsteel — Mon, 07 Apr 2014 22:42:54 GMT

@greenfield wrote:
my utilization around ~5%

And I'm not sure if these factors are unique to me but "the following are key factors that contributed to your fico score:"

Length of time accounts have been established
Proportion of loan balance to loan amount is too high
Length of revolving account history
Too many inquiries in the last 12 months

oh and no baddies either

Your credit card accounts are too young.
You must have a loan open with a high balance.
Same as number 1 but primarily specifying credit cards.
Too many inquiries.

Resolution I'd say is just wait it out, garden for a while, pull your FICO scores in another year when your accounts are more mature, your loan balance is lower, and check to see if your inquiries are dropping off.

Re: Amex Everyday Denied

amdm2013 — Mon, 07 Apr 2014 23:55:03 GMT

I've been getting the same reasons for the past yea when I get instant denials. It's all computer generated and if you try to call them and explain you end up no where, IME!

Re: Amex Everyday Denied

Anonymous — Mon, 07 Apr 2014 23:58:12 GMT

It may be your student loans, even if deferred they will use that TL as the 'proportion to loan bal is too high'. Keep in mind, the revolver has a higher UW criteria and all things considered the score, income and perhaps other factors did not push over to be approved.

why did Chase deny you?

Re: Amex Everyday Denied

creditguy-378 — Tue, 08 Apr 2014 00:22:18 GMT

I would bet the denial was because your A.A.O.A. is only 1 and a half years amex wants to see at least 3 years I would garden until then

Re: Amex Everyday Denied

rlx01 — Tue, 08 Apr 2014 07:06:06 GMT

AMEX approves cards with 6 months of history as long as you have high income.

Re: Amex Everyday Denied

madmann26 — Tue, 08 Apr 2014 11:34:53 GMT

My experience with Amex is a little different.

I applied 2 previous times in the last year. Both denied. They pulled all 3 bureau's each time.

I found myself in a position where I needed a Corporate card, filled out my company's paperwork, Amex pulled me and I got my Corporate card.

About a month later, I decided to app again for the BCE, and to my surprise, they approved me and ONLY pulled Experian this time.

It's a damn conspiracy.

Re: Amex Everyday Denied

takeshi74 — Tue, 08 Apr 2014 12:46:50 GMT

@greenfield wrote:
The letter said that the key factor which contributed to my denial was the number of creditors who reviewed my credit report.
My fico was a 703 when they reviewed it.

I honestly think thats a pretty poor reason for a denial.

Creditors seem to indicate that as a key factor for credit profiles that are too thin for their liking. What's your AAoA?

@greenfield wrote:
What should I say to get recond for this card?

IIRC you won't have much luck with AmEx unless something on your report was incorrect.

@greenfield wrote:
Length of time accounts have been established
Length of revolving account history

Didn't see this bit when I originally hit reply but it confirms "too thin". They want to see more reponsible revolving credit history. Build and re-apply later down the road.

Re: Amex Everyday Denied

Anonymous — Fri, 11 Apr 2014 23:57:39 GMT

My experience was different. I apped for this card 3 days ago and was approved. My Experian score was 717 at the time of approval. Had 4 trade lines in good standing less than a year old. I'm 25, income is 50k. Amex approved me for 8K.

good luck with your recon.

Re: Amex Everyday Denied

Anonymous — Sat, 12 Apr 2014 00:09:35 GMT

I would call and recon. i don't see why they denied. I was approved for BCE this week with AAoA only 11 months but I do have a closed secured cap one reporting and a 24000 car loan with 2k of on time payments. call and speak to a csr