Denied - American Express Platinum

[wmr0919]

Hi All,

So I posted an app spree last week that you can read here

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Results-of-Applying-for-6-cards-yesterday/td-...

I've spent a ton of time over the past week reading these forums, historical posts on Amex from this site but haven't been able to find really good concrete answers. As you can see in my linked thread, my Experian was in the 720s. This was a recent jump around May 13th and I wanted to capitalize on it. As mentioned in that thread, I got approved for the AMEX Blue (SL of $1k). I did think I'd get more to start but have read about the AMEX 1K limits and was just happy to get in with AMEX. Today I decided to pull the trigger (despite no pre-approval) on an Amex platinum card since it's just a soft pull. I immediately was denied and in their reasoning the score given was 651. The denial even states that the score is for May 18th which isn't correct either. Looking through the Experian site (and many other apps), they clearly used an older score to deny me for the Platinum. I haven't received anything to confirm but I'm going to guess that is also the reason I got a 1k limit with the Everyday Blue.

Now before anyone hates that I applied and didn't have a pre-approva, I knew this was a gamble but it was just a SP. If you look into many of the threads discussing Amex pre-approvals, theres countless people who cold apped and got it so I thought I'd throw the dice.

My questions are

1) Has anyone been able to confirm (or have a good idea) on when Amex would update this?

2) Is there anything I can do to get them to use a current score?

3) If I call them, would approving a hard pull mean an updated score?

3) If I call them and tell the situation (with the blue and denied platinum), do you think they'd do a recon on both?

[rostrow416]

That's weird, I thought I was provided a FICO 8 when apping for Amex.  It would be strange for them to flip between FICO versions like that.

[wmr0919]

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@rostrow416 wrote:

That's weird, I thought I was provided a FICO 8 when apping for Amex.  It would be strange for them to flip between FICO versions like that.

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I'd say it's more likely I'm incorrect in what I wrote. I'm not very knowledgeable on the differences between all of them. I know that my Experian app (which says FICO Score 8) says 697 right now, IdentityIQ (pulled this morning) says 718. I assumed the score Experian gives me through the app would be the Experian score they pull. While I do expect some variance, I didn't expect to see a 651 which is really far off.

[silver_idle]

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@wmr0919 wrote:

Hi All,

So I posted an app spree last week that you can read here

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Results-of-Applying-for-6-cards-yesterday/td-...

I've spent a ton of time over the past week reading these forums, historical posts on Amex from this site but haven't been able to find really good concrete answers. As you can see in my linked thread, my Experian was in the 720s. This was a recent jump around May 13th and I wanted to capitalize on it. As mentioned in that thread, I got approved for the AMEX Blue (SL of $1k). I did think I'd get more to start but have read about the AMEX 1K limits and was just happy to get in with AMEX. Today I decided to pull the trigger (despite no pre-approval) on an Amex platinum card since it's just a soft pull. I immediately was denied and in their reasoning the score given was 651. The denial even states that the score is for May 18th which isn't correct either. Looking through the Experian site (and many other apps), they clearly used an older score to deny me for the Platinum. I haven't received anything to confirm but I'm going to guess that is also the reason I got a 1k limit with the Everyday Blue.

Now before anyone hates that I applied and didn't have a pre-approva, I knew this was a gamble but it was just a SP. If you look into many of the threads discussing Amex pre-approvals, theres countless people who cold apped and got it so I thought I'd throw the dice.

My questions are

1) Has anyone been able to confirm (or have a good idea) on when Amex would update this?

2) Is there anything I can do to get them to use a current score?

3) If I call them, would approving a hard pull mean an updated score?

3) If I call them and tell the situation (with the blue and denied platinum), do you think they'd do a recon on both?

---

First to state this probably should get moved to the Credit Card or Credit Card Application sections as this section is meant for those who been approved.

Next, if you get a starter limit on your first card, its usually best to use that card for about 2 to 3 months before trying to app for another card. They would want to see your spending habits and payment history especially youre still at the borderline.

For your questions:

1) AMEX usually do a SP every month.

2 and 3) You can call them to request a recon but that would usually result in a HP.

4) You could try but the $1k limit is a min starting limit for most and usually a borderline limit. I would suggest using the card and at the 61 day mark to request a CLI, although I probably would suggest waiting about 4 to 6 months before requesting one so you can built a bit of history with them. 

[Anonymous]

AMEX historically uses old reports for some lending decisions. Or to put it another way, their internal systems are always a little behind ans SP approvals/denials do not seem to use real time data. 

[wmr0919]

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@silver_idle wrote:

---

@wmr0919 wrote:

Hi All,

So I posted an app spree last week that you can read here

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Results-of-Applying-for-6-cards-yesterday/td-...

I've spent a ton of time over the past week reading these forums, historical posts on Amex from this site but haven't been able to find really good concrete answers. As you can see in my linked thread, my Experian was in the 720s. This was a recent jump around May 13th and I wanted to capitalize on it. As mentioned in that thread, I got approved for the AMEX Blue (SL of $1k). I did think I'd get more to start but have read about the AMEX 1K limits and was just happy to get in with AMEX. Today I decided to pull the trigger (despite no pre-approval) on an Amex platinum card since it's just a soft pull. I immediately was denied and in their reasoning the score given was 651. The denial even states that the score is for May 18th which isn't correct either. Looking through the Experian site (and many other apps), they clearly used an older score to deny me for the Platinum. I haven't received anything to confirm but I'm going to guess that is also the reason I got a 1k limit with the Everyday Blue.

Now before anyone hates that I applied and didn't have a pre-approva, I knew this was a gamble but it was just a SP. If you look into many of the threads discussing Amex pre-approvals, theres countless people who cold apped and got it so I thought I'd throw the dice.

My questions are

1) Has anyone been able to confirm (or have a good idea) on when Amex would update this?

2) Is there anything I can do to get them to use a current score?

3) If I call them, would approving a hard pull mean an updated score?

3) If I call them and tell the situation (with the blue and denied platinum), do you think they'd do a recon on both?

---

First to state this probably should get moved to the Credit Card or Credit Card Application sections as this section is meant for those who been approved.

Next, if you get a starter limit on your first card, its usually best to use that card for about 2 to 3 months before trying to app for another card. They would want to see your spending habits and payment history especially youre still at the borderline.

For your questions:

1) AMEX usually do a SP every month.

2 and 3) You can call them to request a recon but that would usually result in a HP.

4) You could try but the $1k limit is a min starting limit for most and usually a borderline limit. I would suggest using the card and at the 61 day mark to request a CLI, although I probably would suggest waiting about 4 to 6 months before requesting one so you can built a bit of history with them. 

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If I did a recon and was OK with the HP, would that pull new info? I'm going to be full on Stardew Valley gardening for atleast the next 12 months so I wouldn't mind it if I know it make a difference.

[wmr0919]

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@Anonymous wrote:

AMEX historically uses old reports for some lending decisions. Or to put it another way, their internal systems are always a little behind ans SP approvals/denials do not seem to use real time data. 

---

Sadly searching through these forums over the many years has yielded no real consensus on how far behind. I've called Amex twice now and they seemed like they have no idea of any delay.

[PointsBonus]

@wmr0919 

In my opinion I would give it another 65 Days and during this time use your current Amex and pay them off every month before the closing date. 
65th day look for a pre-approval, hopefully it be there. 
keep us posted!

[Jnbmom]

You stated you were just approved for a 1K limit, that's a borderline approval so it doesn't surprise me about the denial. But I agree Amex doesn't use up to date scores which is irritating to say the least .

[CreditCuriosity]

Just my 2 cents.. Use the blue card for 6 months get some history with Amex as the platinum card isn't going anywhere.  No harm, no foul as it was a SP since you are a current card holder and future applications will also be a SP as well.  Also you as mentioned had an app spree I would highly suggest you wait to not to make Amex or your other new lenders give pause or to revoke your new card/cards.  Lenders will see several accounts reporting shortly and can see your inquiries as well.  Credit is a marathon and not a sprint and app sprees are usually frowned upon especially in these economic conditions.