AmEx Costco Business Card - 2 WEEK RECON SUCESS - APPROVED

[Anonymous]

Hello all, I've been using Fico for a while but this is my first time posting.

I recently applied for an AmEx Costco Business Card but they denied me despite having a 695 Experian credit score. This is the that score they pulled.

I currently have the American Express Gold Business card and Discover IT. Also an authorized user on some others from Citi and Chase.

All account balances paid in full and accounts are open. Everything on my credit reports is accurate but all 3 of them still show the balance on my Discover card that I paid off a month ago. According to the simulator, once my discover is paid off my score jumps to 750 for Experian.

I got my first credit card fresh out of high school so that would make it 3 years worth of credit history.

I just finished a 2 year lease term on my car and opened up another one a month ago.

I have a late payment from more than a year ago.

My business has been running for 3 years with a 300k gross annually.

[Anonymous]

Thank you all for the comments and help. I just want to know what is the negating factor. I love Costco and I do a lot of my business and personal shopping there.

[Anonymous]

Waiting on Recon. Sent it last week.
Told them that my credit score is sufficient enough.
Told them that none of my accounts are delinquent (for some reason my Discover had showed a balance as well as my Citi on my credit report). But doesn't delinquent mean past due?! None of my accounts are past due.
Told them my credit history is sufficient enough.

Been a week so far, still waiting. Still shows application "In Progress". Every time I call them up they tell to call back within a few days.

Also, just got approved for Chase Slate with a 4.8k CL and a year of no interest.
Capital One just approved me for 4k as well.

Wonder if this will help me in anyway? Both of those cards were manually approved, meaning that they called me up to verify my information. I pray that's the case with AmEx.

[Anonymous]

No hard pulls from AmEx yet since the initial application. They warned me they would pull my credit again for the recon.

[sccredit]

I have to wonder if all of the new cards and apps is the reason for the denial.  

Good luck!

[MyDataMyChoice]

You already have a relationship with AMEX... denials tend to be SP... approvals are HP

Revolvers tend to require 700+ Score (especially for business) 

Try the DELTA Gold for business or the SIMPLY Cash for Business (they have a tier system) Costco doesn't it is only one med/low tier of 15.24% APR

[Anonymous]

Thanks for the replies folks, heres an update:

It's been 11 days since I started the recon and still nothing. I call them everyday and they keep telling me to call back within 24 hours. Different rep, same reply.

AmericanExpress online check also shows the app in progress.

[Anonymous]

I wonder if that's the case?

I want to point out that I started the recon process well before I applied for Chase and Capital One and was manually approved.

[Anonymous]

Is it better than American Express Gold Cash Card?

Like the DELTA Gold for business is better than the True Earnings card? I appreciaite all the advice.

I think AMEX should know that I'm more than capable and qualified for their cards. On the AMEX gold business card, I pay big balances off no problem each month.

I know that's not what they want, so I plan on telling them I want the Costco guard because of its lower interest rates and so I don't have to pay off my balances at once .

[Anonymous]

Also, I just got an offer from AMEX to upgrade to the Platinum Cash Card.