Amex BCP Decline

[kcos194]

My scores have shot up over 100 points across all 3 bureaus after I paid down my utlization and paid off a CO. Tried Amex's pre-approval and was pre-approved for the Platinum. Doesn't really meet my needs though, so I applied for the BCP based on their attractive SUB and 0% for 12 months. Instant decline. EX was 710 per the letter I received, reasons were too many inquiries w/EX (7/24, 4/12, 0/6) so it is what it is. 

Just for giggles I went back and app'd for the Platinum, and was instantly approved. Any advice on whether recon would work here? I know the charge card underwriting is more lax than credit cards, but curious how different it would be. 

[SDMarik]

Recon is always worth a shot, but overall Amex charge cards are usually an easier approval than their revolvers so it's not entirely surpising that you got denied the BCP and approved the Plat. 

[FireMedic1]

Charge cards are easier than revolvers for approvals with AMEX. That CO may have been the deciding factor.

[kcos194]

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@FireMedic1 wrote:

Charge cards are easier than revolvers for approvals with AMEX. That CO may have been the deciding factor.

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Yea I've thought about it and don't think I'm gonna push it. EX has the most inquiries because of my car loan back in 2021, and you're right the CO was recently paid off so might've been a factor. Gonna let that age off a bit and go from there. It was more of a nice to have application, not something I was anxiously seeking out. 

[kcos194]

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@SDMarik wrote:

Recon is always worth a shot, but overall Amex charge cards are usually an easier approval than their revolvers so it's not entirely surpising that you got denied the BCP and approved the Plat. 

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Decided not to go with recon for the BCP. If anything I may app for the gold and take the HP for that one to get in the door. Gold is much more in my wheelhouse with the groceries and dining perks. We'll see, not in a huge rush but the SUB's are nice right now. 

[TMDSCT]

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@kcos194 wrote:

My scores have shot up over 100 points across all 3 bureaus after I paid down my utlization and paid off a CO. Tried Amex's pre-approval and was pre-approved for the Platinum. Doesn't really meet my needs though, so I applied for the BCP based on their attractive SUB and 0% for 12 months. Instant decline. EX was 710 per the letter I received, reasons were too many inquiries w/EX (7/24, 4/12, 0/6) so it is what it is. 

Just for giggles I went back and app'd for the Platinum, and was instantly approved. Any advice on whether recon would work here? I know the charge card underwriting is more lax than credit cards, but curious how different it would be. 

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Congratulations on the approval!  I would try the recon for the BCP, especially if that card works better for you.

[TRC_WA]

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@FireMedic1 wrote:

Charge cards are easier than revolvers for approvals with AMEX. 

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@FireMedic1 

Well being that they gave me a $10k AmEx Delta revolver mere months after my Ch 13 discharge (10x the limit of my previous Delta card) it makes me wonder which AmEx card I should go for next once my reports are clean.

[FireMedic1]

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@TRC_WA wrote:

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@FireMedic1 wrote:

Charge cards are easier than revolvers for approvals with AMEX. 

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@FireMedic1 

Well being that they gave me a $10k AmEx Delta revolver mere months after my Ch 13 discharge (10x the limit of my previous Delta card) it makes me wonder which AmEx card I should go for next once my reports are clean.

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I'm not a AMEX expert. You remember I went against the 2 back to back days with CLI's we thought was set in stone after BK. But @K-in-Boston knows AMEX inside and out.

[K-in-Boston]

Amex seems to see a big difference at around 720 FICO 08 when it comes to underwriting.  As stated, charge cards usually have less stringent underwriting requirements than revolving cards.  Delta Gold seems to be an outlier for that, with many sub-700 approvals seen on these forums over the years.

I would say it's likely a combination the paid CO, EX score and aggressive credit seeking in their eyes with regard to the Experian inquiries.   Gold is definitely a great card, and if preapproved for Platinum an approval for Gold would be very likely.  Just keep in mind that the rewards structure is very different from the card you applied for, and generally you won't want to mix and match cash back and Membership Rewards with Amex unless you have significant annual spending, otherwise it'll take a while to gather up enough MRs for a meaningful reward once the Welcome Offer is used up and with thresholds for cash back redemption it can take a while before you can cash out on those if you are not racking up much.

[kcos194]

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@K-in-Boston wrote:

Amex seems to see a big difference at around 720 FICO 08 when it comes to underwriting.  As stated, charge cards usually have less stringent underwriting requirements than revolving cards.  Delta Gold seems to be an outlier for that, with many sub-700 approvals seen on these forums over the years.

I would say it's likely a combination the paid CO, EX score and aggressive credit seeking in their eyes with regard to the Experian inquiries.   Gold is definitely a great card, and if preapproved for Platinum an approval for Gold would be very likely.  Just keep in mind that the rewards structure is very different from the card you applied for, and generally you won't want to mix and match cash back and Membership Rewards with Amex unless you have significant annual spending, otherwise it'll take a while to gather up enough MRs for a meaningful reward once the Welcome Offer is used up and with thresholds for cash back redemption it can take a while before you can cash out on those if you are not racking up much.

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That's great info, thanks. My biggest spend is my kids daycare payment, which of course isn't a CB category (that I've seen yet, anyway). It's $2,700 a month, so SUB hitting isn't a problem. In an ideal setup I'd have the gold on the daycare bill for MR points and cash back cards for the other categories.

Rough math would have me at 120k+ MR's with the gold offer and my natural spend in the first year just on daycare alone. Then 30k+ a year until roughly 2026, probably 15k+ after that until 2028. That's when the wife and I go to Europe on Amex's dime lol. 

That's the goal that I'm working toward as of now, we'll see what happens!