Hand slapped out of the Amex cookie jar

[MrDisco99]

Some of you are familiar with my run of good fortune with Amex. It’s been a string of approvals with no HPs and Amex and I seem to have a mutually positive relationship.

Well after my recent bout of denials from three different banks I figured I’d see if I could get one more goodie from old reliable “sure thing” Amex. I had a plan to cancel one of my existing accounts so I could app for a new BCP and grab the bonus since I’ve never held one. Then I’d double up by upgrading my BCE right after.

I picked the least useful card in my lineup which was the ED and transferred all but $1K to another card and cancelled it. Yes it’s the one I just got a few months ago. I know Amex has terms that say they don’t like when you cancel in the first year. However I did the same with my NAF Hilton card back in November with no resulting AA and managed to get approved for two more high limit cards after that. I get the impression from talk on reddit that the policy is more aimed at people who churn a Plat and try to get an AF refund rather than people like me who churn a NAF card for 25K points. But I acknowledge that was a risk that may or may not have been worth taking.

So the next day I looked and no ED on my accounts list. So now down to 4 revolvers I pulled the trigger on a new BCP app ($250/$1K offer).

For the first time ever I saw a screen saying they can’t give me a decision at this time but I should hear something in the next 14 days.

Uggghhhhh...

To add insult to injury, the upgrade link is no longer available on my BCE.

So yeah. I’m thinking the only thing to do from here is sit and wait for the bad news in the mail and pour cold water on my app urge for the next year or so.

I didn’t really have any questions. Just though this might be a lesson to some of you about hubris.

UPDATE: Approved!

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Amex-gave-me-my-groove-back/td-p/5263882

[Anonymous]

Sorry MD99. Is Amex "friendly" about calling in, rather than waiting? Speaking with a CSR, explaining why you transferred $, closed ED, and then new app'd. 

[MrDisco99]

From what I’ve heard Amex doesn’t really do recons. Would love to be corrected, though.

[FinStar]

Based on anecdotal information, AMEX isn't really well-known as far as recons go. It really depends on the denial reasons, but YEMV.

[coldfusion]

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@MrDisco99 wrote:
From what I’ve heard Amex doesn’t really do recons. Would love to be corrected, though.

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If that's the rule then I am the exception for my first AMEX revolver.   It took the underwriter less than 30 seconds to approve with welcome email sent.

As I understand it,  the best way to handle a revolver app when you already have 5 is to go ahead and apply for the one you want, then on recon tell them the card you're willing to close,  even if if you've held it less than a year there won't be any clawback.

[Anonymous]

Hi OP, I had a similar situation as you.

I had the AMEX Platinum and 5 revolver.  I applied for the AMEX Charles Schwab because i wanted to build history as i opened the investment and checking with them.  I got the denial letter on the mail, reason: already have the allowable amount of cards.

Ok, so i called the Charles Schwab number and told them that i was going to close a card so they can reconsider.

I call AMEX and closed my AMEX ED which i've had for about 8 months or so.  Call Charles again and told them that i had closed the card and wanted reconsideration for the investor card.  The next day, i check the app status link and saw that it was approved.

I did get the ED with a bonus, but dont see harm on closing it at 8 months or so.  BEFORE I applied for the Charles Schwab card, i applied for the EDP and was approved (6th card) then i went for the 7th which was denied for reasons stated above.  The AF on my EDP hits on 6/6 (1st statement), bonus met and received. I will pay the AF and keep the card for a year and see how much i use it for.  If i dont, i will downgrade.

Hope that helps! and good luck!!

[MrDisco99]

Prudence is a virtue, but so is patience.  It's an approval after all!

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Amex-gave-me-my-groove-back/td-p/5263882

[Anonymous]

Thread now locked.  Direct comments to the approval thread