AMEX Business Credit Card Approval Odds

[Anonymous]

Hello! New member/first time posting here!

I'm looking to apply for my first business credit card, but I'm not sure if I have a chance at being approved. My current credit score can be found below:
Score: - Transunion: 765 | Equifax: 765
Payment history - 100%

AAoA: 2 yrs, 9mo

Total accounts: 8
Hard inquiries: 4
Credit Utilization: 6% (Usually anywhere from 3-20%)

I'm primarily interested in applying for an American Express charge card of some sort. I applied a few times in the past, and it results in a 'We've finished reviewing your aplication' ---> instant denial. Here is what the reason for denial said on my last application:
"The length of time you have been a customer with American Express is too short." - (I've been with American Express for 11 months now.)

"A recent payment you made to American Express was returned unpaid by your financial institution" - (Bank kicked back payment; payment was made on time and was paid in full.)

"Your current balance in relation to the credt limit is too high" - (Not sure why this is an issue as I always keep below a 20% utilization rate.)
"The number of creditors who have reviewed your credit report." 
"On December 05, 2020, your FICO score was 731."

[Ficoproblems247]

Welcome to the forums! If I were to venture a guess, even with the other reasons listed, I would assume that the returned payment is likely the main underlying issue. Even though the payment was made on time and in full, these banks tend to view any returned payment, regardless of reason, in a more harsh light than almost anything else. Your EQ and TU you are listing, are those from CK? If so, they are meaningless in this situation as they are vantage scores. The score that AMEX gave you in the denial is your EX FICO 8, which is what they use for approvals. I'm not sure how long AMEX stayes sore about returned payments, but I want to say it's generally a couple of years. I'm sure it can be a YMMV situation. Have you tried calling in for recon? They can sometimes be pretty candid in letting you know their true reasons for denial. That's what I would recommend if you apply and are denied again. Hopefully others with more experience with business AMEX will chime in, but that's just my 2 pennies. I wish you the best of luck getting in!

[Anonymous]

Thank you so much for your reply. I checked EXFICO 8 score and my score is 751 (it went up 26 points since 1/2/21.) Haven't tried the recon number. 

[bourgogne]

short history, lots of new accounts and a payment that got kicked back.  I think your changes are marginal but the beauty of amex is that you don't need to guess or listen to someone like me, it cost zero to roll the dice and find out first hand.  I think a charge card might give you better odds than a revolver.  make sure you have a reason for the new account rather than just wanting a card for the sake of a new account.  good luck / report back!

[DoogieBall]

Don't know if this will help but DPs with Amex seem a little random at times.

BK7 discharge 3/2011

2 years post-BK approved for Cap1 secured. 

7 years post - Approved for auto loan

7.5 years post finally checked Amex preapproval for ED card.  Approved with 680 EX

No other inquiries

One week later applied/approved for Amex Simply Cash (now discontinued.) 

3 months later applied/approved for Amex Amazon Business Prime. 

Not really sure why the approval on my end especially with my highest score at the time being 701.

[Anonymous]

@DoogieBall 

when applying for the amazon business prime, was it a soft pull since you're already with amex?

i was gonna apply but it sent me out of amex site and on to amazon to appply for the card.

wasn't sure if that would be a hard pull.

thanks

[Anonymous]

Before go ahead and submit an application, which AMEX chargecard is the easiest to get approved for? Or does it not matter? 

[DoogieBall]

---

@Anonymous wrote:

@DoogieBall 

when applying for the amazon business prime, was it a soft pull since you're already with amex?

i was gonna apply but it sent me out of amex site and on to amazon to appply for the card.

wasn't sure if that would be a hard pull.

thanks

---

I assume it was a soft pull.  I was never notified about getting any business card on my personal report.  But I don't really know if there is a "hard pull" on my business credit report.  I have a D&B number and nothing has every shown up through their site or Experian business website.

[Anonymous]

seems like it was a soft pull if you didn't see any inquiries on your report after applying for the card.

thanks for the update

[Thermionic_E]

We have nearly the same exact data points and I have been denied for "the number of creditors who have reviewed..." for the last year concerning Amex business gold no matter how much Experian and other sites tell me I have excellent approval odds... I never see anything in the prequalify on the app and always get 30 second and expanding your relationship is easy language. I've come to deeply despise Amex as holding me back in belief that my loyalty and high spend would be regarded with recognition but no...