Amex Denial

[Anonymous]

Was just denied for Amex everyday cc. Pefect payment history. utilization is 0% for 3 of my cards and 2 other cards are at 27 and 29. Have a car loan that has perfect history. History is only about 1 year, and i do have a few inquiries. I know those 2 things look bad and maybe along with the 2 relatively high utilizations, even though they are below 30. But i have been perfect thus far. Just called CS line, and was told a new report could be pulled or not be pulled with a reconsideration. not taking another pull for nothing. 

Does anybody have or know of a direct reconsideration line?

[Anonymous]

Sorry to hear.  The option presented to you thus, a new report could be pulled is your only option if you really want the card.  If you do decide to go with that option, update the thread with results.

[Jon85]

Sorry about your denial.

I've heard (don't know how true it is) that Amex doesn't really reconsider IF there hasn't been a significant change in your report from the last time they pulled it.

So if they pull another report with the same data as the last pull, it'll be denied. Otherwise if there is a big change, it'll just be processed as a new application... it's not like one of those recons where you can call in and explain to them certain situations and things like that. 

(Again, this is what I've heard, don't know how accurate it is.)

[creditguy]

One thing you left out is your EX score, hows that looking? I would probably just wait to see the reason for denial and work on that, A recon would be futile in all likelihood. You can work on the reason for denial and reapply when your good to go, Amex will always be there waiting for you. 

[exCYter]

Were you showing as prequalified on their site before you app'd?  I'm showing as prequalified for Blue Cash Everyday and Everyday but haven't app'd yet until my util is updated from recent payments.  

[Anonymous]

Yes i actually was. But i think it was for the blue cash rewards or something. And i just did it again for the heck of it, and it says i wasnt qualified. so annoying. 

[Anonymous]

+1

Curious what your EX score is.

[Anonymous]

it was 704 at the time of app

[takeshi74]

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@Anonymous wrote:

Does anybody have or know of a direct reconsideration line?

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Recon won't help.  As indicated above, AmEx doesn't recon unless there are significant changes or errors in your report that were corrected.  You didn't qualify.  Try again when the cited denial reasons are addressed.

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@Anonymous wrote:

History is only about 1 year, and i do have a few inquiries. I know those 2 things look bad

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I would suspect that those are the major concerns.  Payment History is the biggest FICO scoring factor and revolving utilization has a significant impact but having limited history will limit your ability to open new accounts and to get better terms.  Additionally, it's never just about score but the creditor/product's specific criteira.

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@exCYter wrote:

Were you showing as prequalified on their site before you app'd?

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Doesn't really matter.  Do not rely on prequals.  A prequal doesn't guarantee approval.  The lack of one doesn't guarantee a denial.  Treat them as marketing.

[Anonymous]

Sorry about your denial. Pay down your util on those 2 cards & try again in about 6 months.