AMEX BCE denied after preapproval recon HP?

dustind · ‎12-23-2019

Hello Everyone,

I apped for Blue Cash Everyday after prequal, was denied.

I have no prior relationship with Amex.

699 FICO Ex (from Amex HP pull)

2 HP (now 3 because of Amex)

AAoA ~7yr

AoOA 17.1 yr

4% util

1 Unpaid CO 4.5 years ago, no other derogs

Income 45k

From the rejection:

Our evaluation of the accounts on your credit report based on the number, type, length of time opened, and credit risk level. (Experian)

The amount of credit available on your bank credit card account with the least credit available is too low (Experian) *Edit: Cap One Plat Mastercard $300*

The average credit limit on all your credit card accounts is too low (Experian) *This would be $450 (Discover $600 & C1P MC $300)*

Length of time accounts have been established. (Experian) *Both CC are 3.5 months old*

If I had known low CL on existing cards was an issue I would have waited.

Can I recon to an Amex Blue which I read has lower requirements without another HP? Any other recon advice that won't waste HPs?

I also read that multiple Amex HPs only count as one if on the same day, but sadly I apped yesterday night so that window many have passed. Can anyone confirm how that works for future reference?

What is the time limit for recon vs a new apply?

Thank you all for your help.

Edited to add info.

M_Smart007 · ‎12-23-2019

Sorry OP for your denial, I would not waste another HP!

Rather I would wait for advice from other members on suggestions.

And Welcome to myFICO forums! .. Happy Holidays

DoctorManhattan · ‎12-23-2019

Sorry for the denial OP. Hopefully someone chimes in on suggestions.

iheartwings · ‎12-23-2019

@dustind wrote:

Can I recon to an Amex Blue which I read has lower requirements without another HP? No. It would be a new application.
Any other recon advice that won't waste HPs? No.
I also read that multiple Amex HPs only count as one if on the same day, but sadly I apped yesterday night so that window many have passed. Can anyone confirm how that works for future reference? Can't answer that.
What is the time limit for recon vs a new apply? In general, reconsideration with AmEx involves updating information from the rejected application and resubmitting to UW. It's not like recon with Chase or other CC where you can provide reasoning for why you should be approved.

Thank you all for your help.

Sorry, OP, that you were declined for a BCE. Prequalification, unfortunately, is not a guaranteed approval. Your limits on your current cards are fairly low. I would recommend looking to see if you can get a CLI on your Discover because those are SP. Not sure which Mastercard you have, but you can see if you can also secure a SP CLI with that. Sounds like AmEx wants you have some higher limits before they are willing to extend credit to you.

As for reapplying, I'd wait 3-6 months (longer) and then consider reapplying again.

Anonymous · ‎12-23-2019

When I first apped for a AMEX BCE at the time my only other cards were a $500 secured master platinum from Cap One and a 3k discover it, I was instant approved for a 10k limit. My age of those accounts were 1 1/2 years for cap one and discover was 1 year. Scores were around 700-730,