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How strict is Amex currently?

CWykes
Valued Member

How strict is Amex currently?

I applied for the Amex Cash Magnet card and it says the application needs further review and i'll get my decision within 14 days. I read on a different post that they're denying anyone with a score lower than 750 for this card, but then I would've been denied instantly right? What do you all think my odds are for being approved with a 743 Experian score? No derogatory marks, low credit utilization currently (3%), and always made payments on time, though not always in full. I filled out my information and it said I was prequalified for it so i'm hoping my chances are somewhat higher.




Message 1 of 19
18 REPLIES 18
Dumbee
Established Contributor

Re: How strict is Amex currently?

CC applications are typically holistic and take into account other factors beside score, this is much more relevant with Amex/national bankcard applications

 


Smiley Embarassed
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Message 2 of 19
CWykes
Valued Member

Re: How strict is Amex currently?


@Dumbee wrote:

CC applications are typically holistic and take into account other factors beside score, this is much more relevant with Amex/national bankcard applications

 


Unfortunately it doesn't matter much now. They made that decision pretty fast, was denied.




Message 3 of 19
pinkandgrey
Community Leader
Senior Contributor

Re: How strict is Amex currently?


@CWykes wrote:

@Dumbee wrote:

CC applications are typically holistic and take into account other factors beside score, this is much more relevant with Amex/national bankcard applications

 


Unfortunately it doesn't matter much now. They made that decision pretty fast, was denied.


@CWykes Never hurts to try recon. I'm not saying it will work, but it really does never hurt. 

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Message 4 of 19
Rogue46
Frequent Contributor

Re: How strict is Amex currently?

@CWykes  that's not true about denying anyone under 750.
I was approved for the CM on June 1st with sub 700 scores and a 6 yr old bk showing so I'm not sure what's going on with them?





Message 5 of 19
M_Smart007
Epic Contributor

Re: How strict is Amex currently?


@Rogue46 wrote:

@CWykes  that's not true about denying anyone under 750.
I was approved for the CM on June 1st with sub 700 scores and a 6 yr old bk showing so I'm not sure what's going on with them?


Message 6 of 19
ImTheDevil
Community Leader
Super Contributor

Re: How strict is Amex currently?

It'll be interesting as the holidays approach, to see if Covid lending fears still overcome greed for increased consumer spending.



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Message 7 of 19
M_Smart007
Epic Contributor

Re: How strict is Amex currently?


@ImTheDevil wrote:

It'll be interesting as the holidays approach, to see if Covid lending fears still overcome greed for increased consumer spending.


@ImTheDevil, It could be "interesting"  to watch.

I wonder if the old saying; "lenders are more relaxed around the holidays" will ring true?

 

 

or will it be; "The lenders that stole Christmas"  Grinch-Lenders.jpg

Message 8 of 19
M_Smart007
Epic Contributor

Re: How strict is Amex currently?


@CWykes wrote:

@Dumbee wrote:

CC applications are typically holistic and take into account other factors beside score, this is much more relevant with Amex/national bankcard applications

 


Unfortunately it doesn't matter much now. They made that decision pretty fast, was denied.


@CWykes, Truly Sorry for your denialSmiley Sad

Message 9 of 19
KLEXH25
Valued Contributor

Re: How strict is Amex currently?


@CWykes wrote:

@Dumbee wrote:

CC applications are typically holistic and take into account other factors beside score, this is much more relevant with Amex/national bankcard applications

 


Unfortunately it doesn't matter much now. They made that decision pretty fast, was denied.


Sorry for the denial @CWykes 

 

Can you share some more DPs? I'm thinking of applying for the BCP in August. Do you currently have any Amex cards? How many inquiries / new accounts in the past 6 and 12 months?





Message 10 of 19
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