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Amex Platinum Card - Denied

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Anonymous
Not applicable

Re: Amex Platinum Card - Denied


@PointsBonus wrote:

depending on how long you had ur Gold card (over a year ) just ask for the upgrade if you just want the "Platinum" card. But, if ur wanting the SUB, I freeze all ur 3 bureaus for 6 months and use the Gold card PIF each month as my main source card for the next six months. Than apply . 


I've consolidated my spending on it from the date I opened it since it honestly fits my spending patterns almost perfectly. I don't care much about the SUB but would like to have both the Gold and Platinum Card since I could definitely use them enough to justify the AFs. I looked back at when I was approved for the BCP card and my scores were alot worse then.

 

I remember the rep I spoke to a while back telling me the FICO score had little impact(or atleast was only one factor in the decision) and they used some sort of internal scoring system. I wonder if they use FICO for initial approval and then combine it with interal data/trends overtime for existing accounts(hence no HP for other cards).  They wouldn't divulge/disclose much else to me.

 

I was mystified when I was approved the Gold Card with a 5k PoT limit right of the bat(Green had the same but wither lower interest rate). 

I didn't see the Platinum card at the beginning and honestly began to wonder if they wanted to see good behavior with another charge card before approving me for anything else. I have a savings account with Amex too which seems to help a little.

 

I was told you had to have atleast one year of tenure to upgrade to the Platinum Card though(rep said this).

 

I don't know what the requirements for the Biz Platinum are but I did want to start my own buisiness at some point. 

 

I figured I'd share as much information as possible since this forum has been an indispensable resource for me. Maybe this will help someone else down the line too(my way of giving back).

Message 11 of 47
M_Smart007
Legendary Contributor

Re: Amex Platinum Card - Denied

I might have missed it, how old is your Gold card?

Message 12 of 47
Brian_Earl_Spilner
Credit Mentor

Re: Amex Platinum Card - Denied

I've said it before, but everyone disagrees, their top cards have different underwriting. There's something they're looking for when it comes to the $500 AF cards. When I spoke to UW after being denied, he basically said they would let me slide at around the 2 year mark of current membership, which to me, means I don't meet the criteria, but my history with them is enough. I'll find out in October.

    
Message 13 of 47
Anonymous
Not applicable

Re: Amex Platinum Card - Denied


@M_Smart007 wrote:

I might have missed it, how old is your Gold card?


It's a little over 6 months old(7th statement/billing cycle). The Green Card was opened at the same time(closed right after Gold Card was approved). It was opened 12/2019. I know my scores were much lower then too given my debt load but things have actually improved drastically and my scores have increase by around 30 to 40 points on average.

 

It's odd since they didn't say that the denial is due to closing cards. It did say something about a SUB not being available for another when I went to apply though for that reason(I don't really mind though). I'm honestly confused... It make more sense if my behaviors became worse(e.g. accumulating more debt); However, they've improved.

 

I've tried to be extra cautious since I know Amex has the Rewards Abuse Team looking for people who try to game the system. I just figured the card I wanted would geniunely fit my spending since I do want to start traveling when this pandemic is over or under control.

Message 14 of 47
lhcole77
Valued Contributor

Re: Amex Platinum Card - Denied

@Anonymous  My Amex Plat is one of my favorite cards. I've had it many years and it has been very beneficial for me considering I travel at least 12 times a year (pre Covid).

 

Given that this card is a premium travel card, I would encourage you to rethink the need for it during a pandemic. Not a lot of traveling is going on right now.

 

If I were you, I would allow my reports to age, INQs to fall off, and reapply when you can fully use and appreciate the benefits of the card that come with the $550 AF. 

Message 15 of 47
Anonymous
Not applicable

Re: Amex Platinum Card - Denied


@Brian_Earl_Spilner wrote:

I've said it before, but everyone disagrees, their top cards have different underwriting. There's something they're looking for when it comes to the $500 AF cards. When I spoke to UW after being denied, he basically said they would let me slide at around the 2 year mark of current membership, which to me, means I don't meet the criteria, but my history with them is enough. I'll find out in October.


I've read this on this forum somewhere before. I wondered about this since whomever I spoke to seemed to say something similiar in that paying off the BCP card at the time(0 percent 12mon APR, $250 SUB, close to 4k balance all paid now), alone, wasn't enough to garner an approval. I wonder if it's because total payment/credit history is still under two years/24 months.

 

It does sound like they really want to know you can handle your finances. I honestly think you're 100 percent correct on this. If you look closely at the Platinum Cards terms you'll also see that it has a $8,000 cash advance limit(I don't use these but it's signifcant in terms of risk to the lender). Then there's also the fact it offers various forms of insurance and it would begin to make alot more sense if they were more stringent.

Message 16 of 47
blindambition
Senior Contributor

Re: Amex Platinum Card - Denied

Sorry about the denial OP. You have 2 very BIG red flags with Amex, both related. Quick closure of Green, and pattern of churning. I'd lay off Amex for awhile. I'd also stop opening and closing accounts. You'll soon find yourself on the outside looking in with many lenders. Churning is a HUGE NO NO!!

Message 17 of 47
Anonymous
Not applicable

Re: Amex Platinum Card - Denied


@lhcole77 wrote:

@Anonymous  My Amex Plat is one of my favorite cards. I've had it many years and it has been very beneficial for me considering I travel at least 12 times a year (pre Covid).

 

Given that this card is a premium travel card, I would encourage you to rethink the need for it during a pandemic. Not a lot of traveling is going on right now.

 

If I were you, I would allow my reports to age, INQs to fall off, and reapply when you can fully use and appreciate the benefits of the card that come with the $550 AF. 


I don't entirely disagree however given they're offering the credit for your cellphone bill, it would be nice. I'm sure I could get part of the fee waived if they really wanted to approve me but it's also possible that they're losing revenue due to people not booking flights, etc. which would I assume would make them less likely to offer anything like that.

 

All this said, it's true that I wouldn't get a as much use out of it in the near term but given that it requires you to prepay for flights anyway(for the rewards) and hotels I would assume that it may be better to pay the fee now then book something farther into the future(prepaid).

 

 

I'm also just using this card as a sort of benchmark and it's a goal card. I'm not sure I'll be approved anytime soon lol

Message 18 of 47
M_Smart007
Legendary Contributor

Re: Amex Platinum Card - Denied


@Anonymous wrote:

@M_Smart007 wrote:

I might have missed it, how old is your Gold card?


It's a little over 6 months old(7th statement/billing cycle). The Green Card was opened at the same time(closed right after Gold Card was approved). It was opened 12/2019. I know my scores were much lower then too given my debt load but things have actually improved drastically and my scores have increase by around 30 to 40 points on average.

 

It's odd since they didn't say that the denial is due to closing cards. It did say something about a SUB not being available for another when I went to apply though for that reason(I don't really mind though). I'm honestly confused... It make more sense if my behaviors became worse(e.g. accumulating more debt); However, they've improved.

 

I've tried to be extra cautious since I know Amex has the Rewards Abuse Team looking for people who try to game the system. I just figured the card I wanted would geniunely fit my spending since I do want to start traveling when this pandemic is over or under control.


Most likely the lender will not cite the "exact" reason, as it is like handing out the secret recipe.

 "" has given very good advice!

 Hold off until you can see the rainbow at the end of the storm.

 

Message 19 of 47
Anonymous
Not applicable

Re: Amex Platinum Card - Denied


@blindambition wrote:

Sorry about the denial OP. You have 2 very BIG red flags with Amex, both related. Quick closure of Green, and pattern of churning. I'd lay off Amex for awhile. I'd also stop opening and closing accounts. You'll soon find yourself on the outside looking in with many lenders. Churning is a HUGE NO NO!!


I'm starting to think the same. I honestly started closing cards because I realized I should find ones that are useful and serve a purpose. I shouldn't open them just to open them. The change in behavior is a little late on my part though.

Message 20 of 47
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