Denied Amex BCE - Reason inside

[python0704]

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@Schoolbuskid wrote:

My score at time of app was: 628 EX, 5 inquiries

Reason's for denial:

The length of time since a delinquency has been reported on your credit. (experian) 9 months since last late

The number of accounts with high balances in relation to credit limits or original loan amounts.(experian) 3 account probably reporting 90% util or more

Number and type of accounts opened recently. (experian) i've opened 5 new synchrony accounts this month alone

Amount of annual income listed on the application is insufficient for missing. they didnt like my measley income of 28000.

So there are some data points hopefully for anyone interested. I will try them again later this year.

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About the last point, I have less income than you but I was approved last year for this card. Part of reason is they want me to stay becasue of the Costco thing. And I never have late payment or carry balance, util <30%. Average one new opened card per year. I think income is less important.

[Anonymous]

I'm starting to believe that income is the least impactful piece of criteria when it comes to lending decisions.  I started a thread yesterday on income "supporting" credit limits in the credit card forum.  There are people out there with total credit limits in excess of 3X their income, so IMO it's the credit report data that's far more meaningful than income, within reason of course.

[KSK1912]

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@Anonymous wrote:

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@Schoolbuskid wrote:

My score at time of app was: 628 EX, 5 inquiries

Reason's for denial:

The length of time since a delinquency has been reported on your credit. (experian) 9 months since last late

The number of accounts with high balances in relation to credit limits or original loan amounts.(experian) 3 account probably reporting 90% util or more

Number and type of accounts opened recently. (experian) i've opened 5 new synchrony accounts this month alone

Amount of annual income listed on the application is insufficient for missing. they didnt like my measley income of 28000.

So there are some data points hopefully for anyone interested. I will try them again later this year.

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I got the BCE with lower annual income but had none of the other issues so lower your utilization rate and garden. 

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New2Finance

you said it! Income is never really a denial reason especially with amex. I have seen people here getting approved for the 3rd of their annual income. OP, if you take care of the other issues, your income will not be a problem to get an amex. Good Luck!