Amex SimplyCash Plus **Update** Denied?

[Anonymous]

Hey guys, I'm thinking of applying for the Amex SimplyCash Plus as a Sole Propreitor.   I'm not too sure how business apps compare to personal applications, although I understand they will be looking at my personal report  (pulling Experian probably, right?). 

Right now I've got the PRG and the EveryDay, both of which have perfect payment history, and I've been paying my statement balances in full lately on my EveryDay.

My Experian FICO 08 as of today is 739, and I have 3 inquiries.  One from 2014, one from 2015, and one from last month (Chase).  I have two new accounts that have not yet reported to any of the bureaus.  My Chase Ritz $13K, and my NFCU cashRewards $2.3K.

I was going to report rather low business revenues as I mainly just do some freelance technical work on the side (web design, etc.)  I'm drawn to the 3% back on computer hardware purchases and 5% on wireless services.

Should I apply now, before my other two accounts report (not sure if that would really matter), or wait a bit longer?  In truth I don't really need the card, but it seems to have some nice perks and I don't have any business lines of credit.  As there's no AF I don't see it hurting too much to apply.

[Creditaddict]

Amex seems to be very giving with this car currently.

Id apply now if you want it.

[Anonymous]

Nice - I will. Is it an SP unless approved?

[Anonymous]

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@Anonymous wrote:
Nice - I will. Is it an SP unless approved?

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Usually it is a soft pull if not approved - but not always. As far as business revenue goes, Amex uses a drop down with ranges so you won't be providing an exact amount. Plenty of people have gotten nice approvals using the lowest range, which starts at $0.

[Anonymous]

Nice. You think it's best to pay off my PRG statement balance before applying? Was planning on doing that Tuesday.

[Anonymous]

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@Anonymous wrote:
Nice. You think it's best to pay off my PRG statement balance before applying? Was planning on doing that Tuesday.

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Not necessary 

[Anonymous]

Hey guys - I applied and it said it was pending further review.  I had to unfreeze my credit report, and I'm thinking maybe it wasn't lifted yet as I only requested it be lifted today right before applying. 

Checking the status of the app online says declined, but when I click to see the full decision details it says, "Sorry, your application cannot be accessed.  Please try again later."  Haven't received any emails regarding the application either.

Called the automated status check line, and the strange thing is that it says there are two applications on file...  One for "An American Express Card"  and the other "Simplycash Card."  Attempting to check the status of either results in the automated system telling me that they are closed for the holiday.  Could this be causing delays?

Also noticed just now that my Experian score has jumped to 744 today.  Doesn't seem there was a HP.

Any thoughts?  Any chance for recon?

[kdm31091]

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@Anonymous wrote:

Hey guys - I applied and it said it was pending further review.  I had to unfreeze my credit report, and I'm thinking maybe it wasn't lifted yet as I only requested it be lifted today right before applying. 

Checking the status of the app online says declined, but when I click to see the full decision details it says, "Sorry, your application cannot be accessed.  Please try again later."  Haven't received any emails regarding the application either.

Called the automated status check line, and the strange thing is that it says there are two applications on file...  One for "An American Express Card"  and the other "Simplycash Card."  Attempting to check the status of either results in the automated system telling me that they are closed for the holiday.  Could this be causing delays?

Also noticed just now that my Experian score has jumped to 744 today.  Doesn't seem there was a HP.

Any thoughts?  Any chance for recon?

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It sounds like it hasn't been decisioned yet.

If it is in fact declined, Amex really doesn't recon unless there's an error on your report. But I'd check and see what the decision is first.

[driftless]

I think that the Amex computers were screwy recently as well. I have been traveling and made a few hotel changes and charges and Amex put a fraud hold on my account. The app and online site did not let me review charges and the app did not let me log in. I called the fraud number several times and there was a recording telling me to call back in a couple of hours. And, then yesterday morning, everything worked and I was able to confirm the charges via the app. Maybe the OP's app has similar issues.

[Anonymous]

Just spoke to a CSR from new accounts to see what was going on.  I was in fact declined, basically for every reason in the book.  I suspect the main culprit was that my Amex Everyday Balance is too high right now.  I didn't think it was a problem since I usually pay of the statement balance in full, but I have noticed Amex gets a little more strict with my spending ability when I have a large-ish outstanding balance.  It was a SP though, so really no harm done. 

I'll probably re-apply next month, and I'll have my balances paid down by then.

The Experian FICO that the CSR cited was 720 something - If you think a recon involving them doing a HP would cause them to re-evaluate, I would consider giving that a shot, but I really think the important factor here is my Amex Everyday Balance.