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Amex Platinum Denial - Any chance of a recon?

BeEasyMark
Valued Member

Amex Platinum Denial - Any chance of a recon?

applied for an Amex Platinum and they pulled my Experian. So it looks like I'm not on their black list anymore, but they denied me for the following reasons:

 

Reason(s) for Our Decision

 

Our scoring of your credit and other relevant information (see below)

 

We evaluated your application using a credit scoring system that considers various pieces of information, including your credit report. The following key factors contributed to our evaluation:

 

Our evaluation of the inquiries on your credit report based on the number, type and recency. (Experian)

There are no bank card accounts on your credit report (Experian)

The length of time since your credit cards were opened as reported in the last two years is too short (Experian)

The remaining balance on an existing auto loan(s) is too high. (Experian)

 

Information About Your FICO Score

We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On January 14, 2021, your FICO score was 745. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:

 

There is no recent information about revolving accounts on your report.

There is no recent information about credit card accounts on your report.

The ratio of loan balances to the loan amounts is too high.

There are too few accounts currently paid as agreed. (This one is weird considering I have no lates on my report.)

 

Any help will be appreciated.

 

 

Message 1 of 8
7 REPLIES 7
CreditSweeper
Established Contributor

Re: Amex Platinum Denial - Any chance of a recon?


@BeEasyMark wrote:

applied for an Amex Platinum and they pulled my Experian. So it looks like I'm not on their black list anymore, but they denied me for the following reasons:

 

Reason(s) for Our Decision

 

Our scoring of your credit and other relevant information (see below)

 

We evaluated your application using a credit scoring system that considers various pieces of information, including your credit report. The following key factors contributed to our evaluation:

 

Our evaluation of the inquiries on your credit report based on the number, type and recency. (Experian)

There are no bank card accounts on your credit report (Experian)

The length of time since your credit cards were opened as reported in the last two years is too short (Experian)

The remaining balance on an existing auto loan(s) is too high. (Experian)

 

Information About Your FICO Score

We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On January 14, 2021, your FICO score was 745. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:

 

There is no recent information about revolving accounts on your report.

There is no recent information about credit card accounts on your report.

The ratio of loan balances to the loan amounts is too high.

There are too few accounts currently paid as agreed. (This one is weird considering I have no lates on my report.)

 

Any help will be appreciated.

 

 


I suppose a recon is always worth a shot. That said, the denial reasons are going to be some hard reasons to recon. 

Personal Credit -
AMEX: Platinum, Gold, Green, Blue Cash Preferred
PNC: Cash Rewards, Points
BOA: Cash Rewards
NFCU: Flagship Rewards, Cash Rewards, CLOC
PSECU: Founders
BB&T: Spectrum Cash Rewards
CapOne: Quicksilver
Discover: IT Chrome, IT
Synchrony: PayPal 2%, PayPal Credit
Barclays: Uber
PenFed: Power Cash Rewards, Platinum Rewards
Alliant: Visa Signature
Goldman Sachs: Apple Card
BBVA: Clear Points
FNBO: Rewards
Store Cards: Target, Macy’s



Business Credit-
AMEX: Delta Gold, Amazon Prime, Simply Cash Plus
PNC: Visa Business
Synchrony: Lowes
Message 2 of 8
BeEasyMark
Valued Member

Re: Amex Platinum Denial - Any chance of a recon?

Do you think going for an Amex Platinum was aiming too high? Should I have started with a revolver or a Green?

Message 3 of 8
coldfusion
Community Leader
Super Contributor

Re: Amex Platinum Denial - Any chance of a recon?


@BeEasyMark wrote:

Do you think going for an Amex Platinum was aiming too high? Should I have started with a revolver or a Green?


Wouldn't have made a meaningful difference with a different charge card.

 

It might have helped with the right revolver where they could have approved you for a $1K limit but that's strictly supposition on my part.

 

Go ahead and recon.  

 

 



(2/2021)
FICO 8 (EX) 812 (TU) 816 (EQ) 804
FICO 9 (EX) 825 (TU) 817 (EQ) 824

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 4 of 8
FinStar
Moderator

Re: Amex Platinum Denial - Any chance of a recon?


@BeEasyMark wrote:

applied for an Amex Platinum and they pulled my Experian. So it looks like I'm not on their black list anymore, but they denied me for the following reasons:

 

Reason(s) for Our Decision

 

Our scoring of your credit and other relevant information (see below)

 

We evaluated your application using a credit scoring system that considers various pieces of information, including your credit report. The following key factors contributed to our evaluation:

 

Our evaluation of the inquiries on your credit report based on the number, type and recency. (Experian)

There are no bank card accounts on your credit report (Experian)

The length of time since your credit cards were opened as reported in the last two years is too short (Experian)

The remaining balance on an existing auto loan(s) is too high. (Experian)

 

Information About Your FICO Score

We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On January 14, 2021, your FICO score was 745. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:

 

There is no recent information about revolving accounts on your report.

There is no recent information about credit card accounts on your report.

The ratio of loan balances to the loan amounts is too high.

There are too few accounts currently paid as agreed. (This one is weird considering I have no lates on my report.)

 

Any help will be appreciated.

 

 


The last reason provided isn't necessarily saying you had the presence of late payments.  It can also translate into having relatively very few open accounts (e.g. CCs, auto loans, mortgage, etc.) in your credit history to determine or calculate lending risk.

 

Not sure if you can overcome all the reasons for reconsideration, but that's up to you.

Message 5 of 8
sbluejean
Established Member

Re: Amex Platinum Denial - Any chance of a recon?

The one about "Too Few Accounts reporting paid as agreed" is a bit of a misnomer. I've worked in auto finance for the last 28 years, so I would submit that last bit has nothing to do with your payment history, but rather a thin file. What they're saying is you don't have a threshold number of accounts that meet their criteria. 

Starting 06/2012 - EQX FICO: 571, EXP Faco: 600, TU Faco: 637.
Now 12/10/2012 - EQX Beacon 5.0 Auto 694 , EXP Faco 709, TU Faco: 783
FICO Goal: 780
Message 6 of 8
drboxing
Established Contributor

Re: Amex Platinum Denial - Any chance of a recon?

Took me about 10 years to get off AMEX blacklist. My 1st card was Delta gold. I then was denied for AMEX Platinum and Gold. It took me about another year after Delta to get Hilton. Another 6 months I was preapproved for the Amex Green. Now I have the Platinum. It took some time. I also got in the habit of paying all my Amex bills to n full. Hope this helps
Message 7 of 8
silver_idle
Established Contributor

Re: Amex Platinum Denial - Any chance of a recon?

Based on the reasons, it sounds like you dont have any other credit cards on your report. If you dont and only have a auto loan, you might want to start small with a revolving credit card then move up. If you do have a revolving credit card (eg a bank card that is uses visa, mastercard, etc., network) that been reporting then you could recon it, otherwise recon might not be all that helpful. Keep in mind they do sometimes do another HP when doing a recon so if you have a sure chance of approval, give it a shot.

Have you check their preapproval page to see what you may qualify for?

Message 8 of 8
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