Amex Green Card Denied

[Boribori]

Apped for the green card and got denied. Going to call the recon like tomorrow. Any tips on what I can say? Success stories? Might get lucky depending on who I get? Ex 554 yes I know it's low. Have some baddies as well. 

[tbque]

AmEx doesn't really do recons. Also, with your score it will be very difficult to get approved for that card. I think you would at least need to be in the mid to high 600's. Just my opinion.

[FinStar]

OP, is the Experian score you provided a FICO score?

Also, before you decide on making the call, have you learned the actual reasons why the application was denied, especially if the following data you've recently shared still applies?

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Charge-off-Help/m-p/6306216

[Anonymous]

Have to agree that with that score and so many recent chargeoffs, Amex is very unlikely to overturn the decision. It'll likely require you paying off all of the chargeoffs and the passage of time for score-healing before any approval is likely. Cobranded cards are the low-hanging fruit of the Amex tree and they typically require at least 630s with no recent baddies before an approval is possible. Green is generally considered to be the tier above the cobrands.

[rostrow416]

Not much you can do with that score if it's a FICO.  Recon won't help.  

You're gonna need some time for those charge offs to age off or work toward settling/deleting them before you should try again.

[OmarGB9]

Agree with everyone - score is much too low for Amex's liking, and unpaid COs don't help. I'd focus on addressing your baddies first.

[Anonymous]

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@Boribori wrote:

Apped for the green card and got denied. Going to call the recon like tomorrow. Any tips on what I can say? Success stories? Might get lucky depending on who I get? Ex 554 yes I know it's low. Have some baddies as well. 

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I've never ever seen someone get approved for Amex with a score that low.   Might want to save yourself a phone call and not try it

[BetterMoves]

Based on some of your other posts, you will probably want to hold off on American Express for while. Wait until the negs are off of your credit report, then until your score is at least 680 or so*. Then try their pre-qualification tool before applying. No need to rush...they aren't going anywhere.

* [ETA] 680 isn't based on much; that's mostly my conjecture...maybe a lower score will be acceptable. Credit approvals always depend on a individuals profile.

[RobertK]

when you say "no recent baddies" 

what is the start of the clock on that? in the case of a charged-off account, would that be the date a credit card company cancelled the account? or the date the account was marked PIF or settled?

thanks

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@Anonymous wrote:

Have to agree that with that score and so many recent chargeoffs, Amex is very unlikely to overturn the decision. It'll likely require you paying off all of the chargeoffs and the passage of time for score-healing before any approval is likely. Cobranded cards are the low-hanging fruit of the Amex tree and they typically require at least 630s with no recent baddies before an approval is possible. Green is generally considered to be the tier above the cobrands.

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[Anonymous]

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@RobertK wrote:

when you say "no recent baddies" 

what is the start of the clock on that? in the case of a charged-off account, would that be the date a credit card company cancelled the account? or the date the account was marked PIF or settled?

thanks

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@Anonymous wrote:

Have to agree that with that score and so many recent chargeoffs, Amex is very unlikely to overturn the decision. It'll likely require you paying off all of the chargeoffs and the passage of time for score-healing before any approval is likely. Cobranded cards are the low-hanging fruit of the Amex tree and they typically require at least 630s with no recent baddies before an approval is possible. Green is generally considered to be the tier above the cobrands.

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My SO did not get pre-approvals for Amex until he hit 640 EX F8 and only for the cobranded cards, the pre-approvals went away when he dipped under 640, and now is approved for all the cards once SO hit 680+ EX F8.

SO does have an unpaid installment CO, but it is exactly 6 years old. Next oldest baddies were from 2017, but are now gone off reports. I would say some distance would be 3-4 years old from date of first delinquency and a score 630-640+ for EX F8.

Charge cards like green, gold, plat were preapproved around 650-680.

Also, try tge pre-approvals to gauge where you stand, as it is a decent indicator instead of straight cold-apping and burning HPs.