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How soon can we apply for Amex after decilne

Red1Blue
Super Contributor

How soon can we apply for Amex after decilne

How soon can we apply for Amex again after decline. It said I can apply again in the future. Do we have to wait 30 days or 90 days before we submit new application? Couple of days ago I applied for Amex Amazon Biz Card. The app declined with message FICO Score 611 from August 12. I have no idea where they got the August 12 report and scores instead of the current scores. This is the last in my Credit Card hunt. My scores are on the raise and hoping by 8/2022 they should be decent as some of the Paid COs are dropping off. I am thinking of trying again 12/2021 and 8/2022. Any thoughts how soon we can apply once Amex declines the app.

4 REPLIES 4
HowDoesThisAllWork
Frequent Contributor

Re: How soon can we apply for Amex after decilne

@Red1Blue 

 

I notice in the FICO scores used by the different credit card companies that I have that their "Free Credit Scores" are usually one or two months behind....so what you are seeing (AMEX using your score that was generated roughly one month ago) tends to vibe with what I see.

 

Additionally, I am unaware of any requirement - written or unwritten - regarding how long one should wait before applying again.

FICO8 Scores as of 2021 JULY 21:


FICO Auto 2/4/5 Scores as of 2021 JULY 21:


FICO Bankcard 2/4/5 Scores as of 2021 JULY 21:


FICO Mortgage 2/4/5 Scores as of 2021 JULY 21:


Starting Score: Exp 699
Current Score: Exp 699
Goal Score: Exp 750


Take the myFICO Fitness Challenge
Message 2 of 5
Bank007
Frequent Contributor

Re: How soon can we apply for Amex after decilne

I have had a company tell me to wait 30 days before applying again.  I imagine you can apply as often as you want, but then, you will get hit with hard inquiries.  Also, there are multiple versions for FICO and there is a FICO 8, FICO 9 for banking, mortgage etc.. It is possible that they pullled the latest version FICO 9 and used that banking  or credit card score, even though we get FICO 8 here on myFICO.  A mess.

 

Lastly, you might want to search for score ranges for AMEX approvals before you app again.


Best of luck!

Starting Score: 550
Current Score: 652
Goal Score: 670


Take the myFICO Fitness Challenge
Message 3 of 5
HowDoesThisAllWork
Frequent Contributor

Re: How soon can we apply for Amex after decilne


@Bank007 wrote:

I have had a company tell me to wait 30 days before applying again.  I imagine you can apply as often as you want, but then, you will get hit with hard inquiries.  Also, there are multiple versions for FICO and there is a FICO 8, FICO 9 for banking, mortgage etc.. It is possible that they pullled the latest version FICO 9 and used that banking  or credit card score, even though we get FICO 8 here on myFICO.  A mess.

 

Lastly, you might want to search for score ranges for AMEX approvals before you app again.


Best of luck!


If I might add on, it is not only the FICO Score that potentially applies here.  It may also be the number of Hard Pulls and/or the number of opened Revolvers in the last XX number of months.  Or, it may be a major derogatory (such as a Charge Off or a Bankruptcy) on your credit report (maybe one five years old is okay but one two years ago is not...or similar).  There appear to be different criteria for different lendors.

 

But, yes - FICO Score range is a really really good start.

FICO8 Scores as of 2021 JULY 21:


FICO Auto 2/4/5 Scores as of 2021 JULY 21:


FICO Bankcard 2/4/5 Scores as of 2021 JULY 21:


FICO Mortgage 2/4/5 Scores as of 2021 JULY 21:


Starting Score: Exp 699
Current Score: Exp 699
Goal Score: Exp 750


Take the myFICO Fitness Challenge
Message 4 of 5
FinStar
Moderator

Re: How soon can we apply for Amex after decilne


@Red1Blue wrote:

How soon can we apply for Amex again after decline. It said I can apply again in the future. Do we have to wait 30 days or 90 days before we submit new application? Couple of days ago I applied for Amex Amazon Biz Card. The app declined with message FICO Score 611 from August 12. I have no idea where they got the August 12 report and scores instead of the current scores. This is the last in my Credit Card hunt. My scores are on the raise and hoping by 8/2022 they should be decent as some of the Paid COs are dropping off. I am thinking of trying again 12/2021 and 8/2022. Any thoughts how soon we can apply once Amex declines the app.


@Red1Blue 

 

Typically, you can re-apply after 30 days.  Keep in mind that scores alone were likely not the culprit.  Algorithms determined there were other factors as well.  Take a look at the factors on the letter that show what you need to work on.  In your case, given any number of recently added tradelines, inquiries, derogs (if any), etc., I would wait longer than 90 days to re-apply.  Also, some of the scores used by AENB tend to lag so be sure there has been a considerable improvement before trying again.

Message 5 of 5
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