AMEX BCE Decline

[Anonymous]

App'd.

Declined. Worth a try at recon? Pulled experian at 652. See below.

Reason(s) for Our Decision

 

Your FICO® score (see below)

 

Information About Your FICO® Score

We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On April 28, 2019, your FICO score was 652. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:

 

There is serious delinquency and derogatory public record or collection agency record on your report.

The time since your latest reported derogatory public record or collection is too recent.

The time since your latest reported delinquency is too recent or unknown.

The length of time your accounts have been established.

Other DPs:

Recent paid final collection which is liekly why they mention the items above. No unpaid/open negatives.

UTI 12%

AAoA is 6 years so not sure why I got the last one.

[Anonymous]

Anything is worth a recon. They pulled your credit, you might as well try. 

Were you pre-approved? How far back was your paid collection? How many other cards do you have?

Chase denied me for a Freedom. They hated my paid charge off from a year ago. And didn't like my new credit card history (4 months at time of application), even though I had a year old car loan and a couple years of student loans. So I feel the frustrastion. 

I would check the Discover route. I had good luck with them recently in a similar boat. Check their prequals. They will help you get aboard the AMEX train when they stop at the station for you. Chase train still hasn't stopped for me so I will wait with you.  

[Anonymous]

Were you prequalified for this card?

[Anonymous]

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@Anonymous wrote:

Were you prequalified for this card?

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Negative

[Anonymous]

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@Anonymous wrote:

App'd.

Declined. Worth a try at recon? Pulled experian at 652. See below.

Reason(s) for Our Decision

 

Your FICO® score (see below)

 

Information About Your FICO® Score

We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On April 28, 2019, your FICO score was 652. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:

 

There is serious delinquency and derogatory public record or collection agency record on your report.

The time since your latest reported derogatory public record or collection is too recent.

The time since your latest reported delinquency is too recent or unknown.

The length of time your accounts have been established.

Other DPs:

Recent paid final collection which is liekly why they mention the items above. No unpaid/open negatives.

UTI 12%

AAoA is 6 years so not sure why I got the last one.

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While Amex will allow you to make a case for reconsideration, and will send your application for manual review; it is very rare that they will overturn the initial decision.  If you search these forums you'd be hard pressed to find anyone who was successful with a recon with Amex.  So basically you'd just be wasting your time.

Amex will occasionally approve applications with scores below 670; but they are not a sub-prime lender so to get a reasonable credit limit your Experian FICO 8 score should be above 670.  Why 670?  That's the point where your credit rating transitions from Fair aka "sub-prime" to Good.

The Adverse Action letter mentions both delinquencies and derogatories.  Do you have any late payments on your credit report?  If I were in your position I'd attempt to get my scores raises to at least 670 then reapply.

[Anonymous]

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@Anonymous wrote:

---

@Anonymous wrote:

App'd.

Declined. Worth a try at recon? Pulled experian at 652. See below.

Reason(s) for Our Decision

 

Your FICO® score (see below)

 

Information About Your FICO® Score

We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On April 28, 2019, your FICO score was 652. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:

 

There is serious delinquency and derogatory public record or collection agency record on your report.

The time since your latest reported derogatory public record or collection is too recent.

The time since your latest reported delinquency is too recent or unknown.

The length of time your accounts have been established.

Other DPs:

Recent paid final collection which is liekly why they mention the items above. No unpaid/open negatives.

UTI 12%

AAoA is 6 years so not sure why I got the last one.

---

While Amex will allow you to make a case for reconsideration, and will send your application for manual review; it is very rare that they will overturn the initial decision.  If you search these forums you'd be hard pressed to find anyone who was successful with a recon with Amex.  So basically you'd just be wasting your time.

Amex will occasionally approve applications with scores below 670; but they are not a sub-prime lender so to get a reasonable credit limit your Experian FICO 8 score should be above 670.  Why 670?  That's the point where your credit rating transitions from Fair aka "sub-prime" to Good.

The Adverse Action letter mentions both delinquencies and derogatories.  Do you have any late payments on your credit report?  If I were in your position I'd attempt to get my scores raises to at least 670 then reapply.

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Yeah, it's slowly getting there. I was at about 590 in January. The lates are from 2014 and are all student loan related. Not much I can do about them since Nelnet already said they won't change it and won't give me a retroactive forbearance this far along.

[Anonymous]

If it makes you feel any better, the BCE really isn't a very good card.  It was part of my 2016 spree and is really my only "regret" card that rarely ever gets used.

[Anonymous]

Yeah, I got antsy waiting for my 91/3 with NFCU and probably shouldn't have tbh. My inqs with ex were low so I said why not.