American Express Cash Magnet denied and very confused.

[Anonymous]

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@TheFIGuy wrote:

@Anonymous Would recommend pulling your EX reports directly from EX and also pulling your annualfreecreditreport(dot)com now that it's weekly until April 21, 2021.

Sounds like something isn't right on your EX file.

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What would be the point of doing that?  A credit report and a credit score are not the same thing.  The credit reports available from annualfreecreditreport.com do not include a credit score.

[TheFIGuy]

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@Anonymous wrote:

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@TheFIGuy wrote:

@Anonymous Would recommend pulling your EX reports directly from EX and also pulling your annualfreecreditreport(dot)com now that it's weekly until April 21, 2021.

Sounds like something isn't right on your EX file.

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What would be the point of doing that?  A credit report and a credit score are not the same thing.  The credit reports available from annualfreecreditreport.com do not include a credit score.

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OP's first point was regarding no revolving accounts. Trusting but verifying EX and AFCR.com reconcile and have the same accounts. Wasn't for scoring purposes and more account reconciling purposes. Making sure there is no Delta.

[Anonymous]

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@TheFIGuy wrote:

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@Anonymous wrote:

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@TheFIGuy wrote:

@Anonymous Would recommend pulling your EX reports directly from EX and also pulling your annualfreecreditreport(dot)com now that it's weekly until April 21, 2021.

Sounds like something isn't right on your EX file.

---

What would be the point of doing that?  A credit report and a credit score are not the same thing.  The credit reports available from annualfreecreditreport.com do not include a credit score.

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OP's first point was regarding no revolving accounts. Trusting but verifying EX and AFCR.com reconcile and have the same accounts. Wasn't for scoring purposes and more account reconciling purposes. Making sure there is no Delta.

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Point taken, but the "No recent record of bank or retail revolving accounts" reason code is not referring to not having revolving accounts.  Instead, the credit reporting agency is saying that they have no recent record of revolving account payments or that there is no record that the OP's revolving accounts were used recently.  And if, as the OP states, his accounts are paid down to zero every month, then there wouldn't be a payment history recorded by the credit bureau.

Another way of saying it is "we have no record that you're using the credit you currently have so why should we extend additional credit to you?"

[TheFIGuy]

@Anonymous That's why I should leave the "Heavy Lifting" to you! Good points thank you!

[Anonymous]

Yeah I cant get approved for anything else its odd

[kilroy8]

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@Anonymous wrote:

Don't waste your time. Exact same scenario on my end with the same reasons. Called and was told by the associate AMEX tightened their belt due to COVID-19 and are denying apps below 750EX. I am at 727EX so had no amo to fight.

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750 EX???

Meet the new AmEx, same as the old AmEx ...

[SweetCreditObsession]

That's an EXCELLENT data point. Thanks for sharing.

[Anonymous]

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@kilroy8 wrote:

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@Anonymous wrote:

Don't waste your time. Exact same scenario on my end with the same reasons. Called and was told by the associate AMEX tightened their belt due to COVID-19 and are denying apps below 750EX. I am at 727EX so had no amo to fight.

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750 EX???

Meet the new AmEx, same as the old AmEx ...

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What's the reasoning behind 750? considering 740 to 799 puts you in the "very good" range.  Does the range not matter?  What does the extra 10 points tell them?

[ZackAttack]

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@Anonymous wrote:

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@kilroy8 wrote:

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@Anonymous wrote:

Don't waste your time. Exact same scenario on my end with the same reasons. Called and was told by the associate AMEX tightened their belt due to COVID-19 and are denying apps below 750EX. I am at 727EX so had no amo to fight.

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750 EX???

Meet the new AmEx, same as the old AmEx ...

---

What's the reasoning behind 750? considering 740 to 799 puts you in the "very good" range.  Does the range not matter?  What does the extra 10 points tell them?

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The range I think only helps with getting loans because the APR is either a var or a fix rate and depending on the range can have the lowest or have a higher interest APR. Otherwise, if Amex said 750 for a score, then that is what they want at the moment.

[Anonymous]

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@ZackAttack wrote:

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@Anonymous wrote:

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@kilroy8 wrote:

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@Anonymous wrote:

Don't waste your time. Exact same scenario on my end with the same reasons. Called and was told by the associate AMEX tightened their belt due to COVID-19 and are denying apps below 750EX. I am at 727EX so had no amo to fight.

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750 EX???

Meet the new AmEx, same as the old AmEx ...

---

What's the reasoning behind 750? considering 740 to 799 puts you in the "very good" range.  Does the range not matter?  What does the extra 10 points tell them?

---

The range I think only helps with getting loans because the APR is either a var or a fix rate and depending on the range can have the lowest or have a higher interest APR. Otherwise, if Amex said 750 for a score, then that is what they want at the moment.

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I've always thought of them as someone who always required that for any of their cards.  It's not until I joined these forms late last year that I realized they were handing out all sorts of stuff around 650 - 680 ranges with 720 being very comfortable for even something like the Platinum.